Woodline Partners LP Has $14.92 Million Position in Sun Communities, Inc. $SUI

Key Points

• Woodline Partners LP has reduced its stake in Sun Communities, Inc. by 18.2%, selling 25,825 shares and now owning approximately 0.09% of the company.
• Despite the reduction, several other large investors, including Dodge & Cox, increased their stakes significantly in Sun Communities, boosting their ownership by up to 42.1%.
• Sun Communities announced a quarterly dividend of $1.04 per share, with a dividend yield of 3.2%, reflecting a payout ratio of 40.70%.

Woodline Partners LP reduced its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,013 shares of the real estate investment trust's stock after selling 25,825 shares during the period. Woodline Partners LP owned approximately 0.09% of Sun Communities worth $14,924,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Sun Communities during the first quarter worth about $29,000. Twin Tree Management LP acquired a new position in Sun Communities during the first quarter worth about $29,000. GKV Capital Management Co. Inc. acquired a new position in Sun Communities during the first quarter worth about $42,000. Parallel Advisors LLC grew its holdings in Sun Communities by 66.4% during the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 190 shares during the period. Finally, Avalon Trust Co acquired a new position in Sun Communities during the first quarter worth about $65,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Down 0.1%

Shares of Sun Communities stock traded down $0.16 during trading on Tuesday, hitting $128.50. 262,842 shares of the stock traded hands, compared to its average volume of 871,051. The stock has a market cap of $16.08 billion, a P/E ratio of 12.57, a PEG ratio of 6.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $146.99. The company has a fifty day moving average price of $125.78 and a two-hundred day moving average price of $125.69.

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

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Sun Communities's payout ratio is 40.70%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SUI. Evercore ISI lifted their target price on Sun Communities from $136.00 to $138.00 and gave the stock an "in-line" rating in a report on Monday. Morgan Stanley set a $142.00 price target on Sun Communities in a research note on Thursday, September 4th. Barclays started coverage on Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target on the stock. Royal Bank Of Canada dropped their price target on Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, Wells Fargo & Company dropped their price target on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sun Communities currently has an average rating of "Hold" and an average price target of $137.86.

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.