Amundi Boosts Stake in Sun Communities, Inc. $SUI

Amundi raised its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,018 shares of the real estate investment trust's stock after acquiring an additional 14,415 shares during the quarter. Amundi owned approximately 0.13% of Sun Communities worth $22,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SUI. Focus Partners Advisor Solutions LLC lifted its holdings in Sun Communities by 22.2% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 13,995 shares of the real estate investment trust's stock valued at $1,800,000 after purchasing an additional 2,540 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of Sun Communities in the 1st quarter valued at $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Sun Communities during the 1st quarter valued at about $42,000. HGI Capital Management LLC bought a new position in Sun Communities in the 1st quarter worth approximately $2,957,000. Finally, Anson Funds Management LP boosted its stake in Sun Communities by 167.9% in the 1st quarter. Anson Funds Management LP now owns 58,910 shares of the real estate investment trust's stock valued at $7,453,000 after buying an additional 36,920 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Shares of SUI traded down $0.76 during trading hours on Friday, reaching $130.52. 284,207 shares of the company traded hands, compared to its average volume of 874,430. The stock has a market capitalization of $16.33 billion, a P/E ratio of 12.78, a P/E/G ratio of 6.63 and a beta of 0.86. The business has a fifty day moving average price of $125.76 and a 200-day moving average price of $125.88. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83. 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 issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates 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 prior 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. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal 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 paid a $1.04 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. Sun Communities's dividend payout ratio is 40.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SUI shares. JMP Securities restated a "market outperform" rating and issued a $140.00 price target on shares of Sun Communities in a report on Tuesday, May 20th. Royal Bank Of Canada dropped their price objective 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. Colliers Securities assumed coverage on shares of Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price for the company. Barclays initiated coverage on shares of Sun Communities in a report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on shares of Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.