Truist Financial Corp Sells 16,937 Shares of Sun Communities, Inc. $SUI

Key Points

• Truist Financial Corp cut its stake in Sun Communities by 65.4% in the fourth quarter, selling 16,937 shares and leaving it with 8,980 shares valued at about $1.11 million.
• Wall Street sentiment remains constructive overall, with 10 Buy ratings and 6 Hold ratings; the stock carries a consensus Moderate Buy rating and an average price target of $140.45.
• Sun Communities reported a Q1 earnings miss with EPS of -$0.07 versus expectations of $1.31, though revenue came in above estimates at $500.5 million and the company raised its quarterly dividend to $1.12 per share.

Truist Financial Corp cut its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 65.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,980 shares of the real estate investment trust's stock after selling 16,937 shares during the period. Truist Financial Corp's holdings in Sun Communities were worth $1,113,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sun Communities by 1,226.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 184 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Sun Communities in the third quarter valued at approximately $27,000. Fulcrum Asset Management LLP bought a new stake in Sun Communities in the third quarter valued at approximately $27,000. Global X Japan Co. Ltd. bought a new stake in Sun Communities in the fourth quarter valued at approximately $33,000. Finally, Assetmark Inc. boosted its holdings in Sun Communities by 55.7% in the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 97 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Zelman & Associates assumed coverage on Sun Communities in a report on Monday, March 16th. They issued an "outperform" rating and a $127.75 target price on the stock. Weiss Ratings cut Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Wells Fargo & Company upgraded Sun Communities from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $133.00 to $150.00 in a report on Friday, February 27th. Truist Financial cut their price target on Sun Communities from $147.00 to $141.00 and set a "buy" rating on the stock in a report on Tuesday, May 5th. Finally, Evercore restated an "outperform" rating and set a $144.00 price target on shares of Sun Communities in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Sun Communities has an average rating of "Moderate Buy" and a consensus target price of $140.45.

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 3,800 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $136.01, for a total transaction of $516,838.00. Following the transaction, the director owned 16,817 shares in the company, valued at approximately $2,287,280.17. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.58% of the company's stock.

Sun Communities Price Performance

Sun Communities stock opened at $120.34 on Friday. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 3.18 and a beta of 0.82. Sun Communities, Inc. has a 52-week low of $115.53 and a 52-week high of $137.85. The stock's 50 day moving average price is $129.17 and its two-hundred day moving average price is $127.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.39 and a current ratio of 3.39.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). The business had revenue of $500.50 million for the quarter, compared to the consensus estimate of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.Sun Communities's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. On average, equities analysts predict that Sun Communities, Inc. will post 6.95 earnings per share for the current year.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $1.12 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Sun Communities's previous quarterly dividend of $1.04. Sun Communities's dividend payout ratio (DPR) is 40.69%.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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