UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 39,849 Shares of Sun Communities, Inc. $SUI

Key Points

• UBS Asset Management increased its stake in Sun Communities, Inc. by 2.9%, now holding approximately 1.4 million shares worth $180.6 million.
• Other investors like Versor Investments LP and Bessemer Group Inc. significantly raised their positions in the company during the same quarter.
• Sun Communities announced a quarterly dividend of $1.04 per share, representing an annual yield of 3.2% and indicating a dividend payout ratio of 40.70%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,404,160 shares of the real estate investment trust's stock after buying an additional 39,849 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.10% of Sun Communities worth $180,631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cascade Investment Advisors Inc. boosted 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 buying an additional 100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted 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 buying an additional 100 shares during the period. PNC Financial Services Group Inc. boosted 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 buying an additional 102 shares during the period. Bessemer Group Inc. boosted 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 buying an additional 120 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Sun Communities by 3.7% in the fourth quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock worth $446,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Down 1.0%

NYSE SUI traded down $1.28 during trading on Friday, hitting $130.00. 568,811 shares of the company traded hands, compared to its average volume of 806,335. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The business has a fifty day simple moving average of $125.77 and a 200 day simple moving average of $125.74. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $16.27 billion, a P/E ratio of 12.72, a PEG ratio of 6.71 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share 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 company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same period last year, the company earned $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. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently disclosed 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 is Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. Sun Communities's payout ratio is presently 40.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley set a $142.00 target price on Sun Communities in a research report on Thursday, September 4th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on Sun Communities and gave the stock a "hold" rating in a report on Wednesday, June 25th. Robert W. Baird increased their price objective on Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Finally, Barclays assumed coverage on Sun Communities in a report on Thursday, May 29th. They set an "overweight" rating and a $141.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sun Communities has an average rating of "Hold" and a consensus target price of $138.71.

Sun Communities Company 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.