Sun Communities, Inc. $SUI Shares Sold by Woodline Partners LP

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 lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 18.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 116,013 shares of the real estate investment trust's stock after selling 25,825 shares during the period. Woodline Partners LP owned about 0.09% of Sun Communities worth $14,924,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SUI. Dodge & Cox raised its stake in Sun Communities by 42.1% during the 1st quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust's stock valued at $1,755,656,000 after purchasing an additional 4,041,802 shares during the period. Nuveen LLC bought a new stake in shares of Sun Communities in the first quarter valued at about $112,395,000. Deutsche Bank AG raised its position in Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust's stock worth $207,294,000 after purchasing an additional 820,422 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Sun Communities by 10.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust's stock worth $787,029,000 after purchasing an additional 568,514 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Sun Communities during the first quarter worth approximately $67,256,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Shares of NYSE:SUI opened at $128.48 on Thursday. The company's 50 day moving average price is $125.72 and its two-hundred day moving average price is $125.90. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83. The firm has a market cap of $16.08 billion, a PE ratio of 12.57, a PEG ratio of 6.72 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 (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. Equities research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $1.04 per share. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. Sun Communities's dividend payout ratio (DPR) is currently 40.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a research note on Thursday, September 4th. Truist Financial lifted their price target on shares of Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Royal Bank Of Canada reduced their price target on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Finally, Barclays began coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective on the stock. 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 company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $138.71.

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.

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