UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Stake in 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 grew its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,404,160 shares of the real estate investment trust's stock after acquiring 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SUI. Dodge & Cox grew its position in shares of 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 acquiring an additional 4,041,802 shares during the period. Nuveen LLC bought a new position in shares of Sun Communities during the 1st quarter valued at approximately $112,395,000. Deutsche Bank AG grew its position in shares of Sun Communities by 103.7% during the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust's stock valued at $207,294,000 after acquiring an additional 820,422 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Sun Communities by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust's stock valued at $787,029,000 after acquiring an additional 568,514 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Sun Communities during the 1st quarter valued at approximately $67,256,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

NYSE SUI traded up $0.61 on Wednesday, hitting $129.08. The stock had a trading volume of 191,431 shares, compared to its average volume of 872,920. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $146.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 6.64 and a beta of 0.86. The firm has a 50-day moving average of $125.80 and a 200-day moving average of $125.71.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $623.50 million for the quarter, compared to analysts' expectations of $614.79 million. During the same period in the prior year, the company 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 analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 40.70%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SUI shares. Wells Fargo & Company dropped their price target on shares of Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. JMP Securities restated a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a research note on Tuesday, May 20th. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a research note on Thursday, September 4th. Truist Financial upped their price target on shares of Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $137.86.

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.