Sun Communities, Inc. $SUI Stake Reduced by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Sun Communities, Inc. by 2.0%, now holding approximately 0.11% of the company, valued at $18.27 million.
• Institutional investors and hedge funds collectively own 99.59% of Sun Communities, indicating strong institutional interest in the company.
• Sun Communities announced a quarterly dividend of $1.04, resulting in an annualized yield of 3.2% and a payout ratio of 40.70%.

Swedbank AB cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,413 shares of the real estate investment trust's stock after selling 2,955 shares during the period. Swedbank AB owned about 0.11% of Sun Communities worth $18,267,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in shares of Sun Communities in the first quarter worth $29,000. Twin Tree Management LP acquired a new position in Sun Communities during the 1st quarter worth $29,000. Ransom Advisory Ltd purchased a new stake in Sun Communities during the 1st quarter worth about $31,000. GKV Capital Management Co. Inc. acquired a new stake in Sun Communities in the 1st quarter valued at about $42,000. Finally, Parallel Advisors LLC raised its position in Sun Communities by 66.4% in the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 190 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on SUI shares. Royal Bank Of Canada lowered their price target on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Robert W. Baird lifted their price target on Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Morgan Stanley set a $142.00 target price on Sun Communities in a research report on Thursday, September 4th. Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Evercore ISI increased their price target on shares of Sun Communities from $136.00 to $138.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sun Communities has an average rating of "Hold" and an average price target of $137.86.

Sun Communities Trading Up 0.4%

Shares of Sun Communities stock traded up $0.53 during trading hours on Tuesday, hitting $129.21. The company's stock had a trading volume of 175,163 shares, compared to its average volume of 876,609. The business has a fifty day moving average of $125.99 and a 200 day moving average of $125.50. The company has a market capitalization of $16.17 billion, a PE ratio of 12.65, a P/E/G ratio of 6.61 and a beta of 0.86. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $140.49.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.09. The company had revenue of $623.50 million during the quarter, compared to analyst estimates 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 period last year, the business earned $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. As a group, equities analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently declared 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 payout ratio is 40.70%.

About Sun Communities

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.