Cramer Rosenthal Mcglynn LLC Has $34.36 Million Stock Position in Sun Communities, Inc. $SUI

Key Points

• Cramer Rosenthal Mcglynn LLC has reduced its stake in Sun Communities, Inc. by 7.6%, now holding approximately 267,090 shares, making it the firm's 5th largest position.
• Several institutional investors have increased their holdings in Sun Communities, with Anson Funds Management increasing its stake by 167.9% in the first quarter.
• The company recently declared a quarterly dividend of $1.04, up from the previous $0.94, reflecting a 3.3% yield for shareholders.

Cramer Rosenthal Mcglynn LLC cut its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,090 shares of the real estate investment trust's stock after selling 21,861 shares during the period. Sun Communities comprises approximately 2.5% of Cramer Rosenthal Mcglynn LLC's investment portfolio, making the stock its 5th biggest holding. Cramer Rosenthal Mcglynn LLC owned approximately 0.21% of Sun Communities worth $34,358,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Versor Investments LP increased its position in shares of Sun Communities by 92.5% during the 1st quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust's stock worth $842,000 after purchasing an additional 3,145 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Sun Communities by 23.8% during the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust's stock worth $135,000 after purchasing an additional 201 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Sun Communities by 11.6% during the 1st quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock worth $149,000 after purchasing an additional 120 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Sun Communities by 9.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the real estate investment trust's stock worth $520,000 after purchasing an additional 365 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Sun Communities during the 1st quarter worth about $2,392,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Sun Communities in a research note on Thursday, May 29th. They set an "overweight" rating and a $141.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Colliers Securities assumed coverage on shares of Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 price objective on the stock. JMP Securities restated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. Finally, Morgan Stanley assumed coverage on shares of Sun Communities in a research note on Tuesday, July 15th. They set an "equal weight" rating and a $135.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sun Communities has a consensus rating of "Hold" and an average price target of $138.21.

Sun Communities Stock Performance

Shares of NYSE:SUI traded down $1.09 on Thursday, reaching $125.45. 772,631 shares of the company's stock were exchanged, compared to its average volume of 1,147,058. The company has a fifty day moving average of $125.65 and a 200-day moving average of $125.77. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The company has a market capitalization of $15.70 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 6.53 and a beta of 0.83. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The firm had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same quarter in the prior year, the business posted $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, June 30th. This is a boost from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio (DPR) is currently 40.70%.

Sun Communities Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.