Sun Communities, Inc. $SUI Stock Holdings Lifted by Dodge & Cox

Key Points

• Dodge & Cox increased its stake in Sun Communities, Inc. by 42.1%, owning approximately 10.69% of the company, worth around $1.76 billion after acquiring over 4 million shares in the first quarter.
• Sun Communities recently increased its quarterly dividend from $0.94 to $1.04, representing an annualized dividend of $4.16 with a yield of 3.3%.
• Analysts have mixed views on Sun Communities, with six rating it as a "Buy", while its average price target stands at $138.43, reflecting both optimism and caution in the market.

Dodge & Cox lifted its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 42.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,647,820 shares of the real estate investment trust's stock after acquiring an additional 4,041,802 shares during the period. Dodge & Cox owned about 10.69% of Sun Communities worth $1,755,656,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Utah Retirement Systems increased its position in shares of Sun Communities by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after acquiring an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. increased its position in shares of Sun Communities by 1.0% in the first quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock worth $1,347,000 after acquiring an additional 100 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Sun Communities by 0.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust's stock worth $3,487,000 after acquiring an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Sun Communities by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust's stock worth $322,000 after acquiring an additional 102 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of 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 acquiring an additional 120 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Royal Bank Of Canada decreased 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. JMP Securities restated a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a report on Tuesday, May 20th. Barclays assumed coverage on shares of Sun Communities in a report on Thursday, May 29th. They set an "overweight" rating and a $141.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the stock 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. According to data from MarketBeat, Sun Communities presently has an average rating of "Hold" and an average price target of $138.43.

Sun Communities Trading Up 0.0%

NYSE:SUI opened at $126.8570 on Friday. 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 $15.88 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 6.54 and a beta of 0.83. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The company's 50 day moving average is $125.57 and its 200-day moving average is $125.76.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating 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 company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same quarter last 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 year.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a $1.04 dividend. The ex-dividend date was Monday, June 30th. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities's dividend payout ratio is 40.70%.

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.

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.