Sun Communities, Inc. $SUI Shares Acquired by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. has increased its stake in Sun Communities, Inc. by 39.1%, now owning 20,672 shares valued at approximately $2.66 million.
• Sun Communities has set a new dividend of $1.04 per share to be paid on October 15th, which represents an annualized yield of 3.2%.
• Analysts have a consensus rating of "Hold" for Sun Communities, with a revised target price averaging $138.71 following various upgrades and downgrades.

Advisors Asset Management Inc. increased its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 39.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,672 shares of the real estate investment trust's stock after acquiring an additional 5,814 shares during the quarter. Advisors Asset Management Inc.'s holdings in Sun Communities were worth $2,659,000 as of its most recent SEC filing.

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

Sun Communities Stock Down 1.0%

Shares of SUI stock traded down $1.28 during trading on Friday, reaching $130.00. The company's stock had a trading volume of 568,811 shares, compared to its average volume of 809,831. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 6.78 and a beta of 0.86. The stock's 50-day moving average price is $125.77 and its 200 day moving average price is $125.85. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same quarter in the previous year, the firm posted $1.86 earnings per share. 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 anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Sun Communities's dividend payout ratio (DPR) is presently 40.70%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SUI. Royal Bank Of Canada lowered their price target on Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Morgan Stanley set a $142.00 price target on Sun Communities in a research report on Thursday, September 4th. Truist Financial raised their price target on shares of Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Robert W. Baird increased their target price on shares of Sun Communities from $126.00 to $134.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sun Communities presently has an average rating of "Hold" and an average target price of $138.71.

Sun Communities Company 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.