Uniplan Investment Counsel Inc. Reduces Stock Holdings in Sun Communities, Inc. $SUI

Key Points

• Uniplan Investment Counsel Inc. reduced its holdings in Sun Communities, Inc. by 7.5%, owning 48,083 shares now valued at $6.19 million after selling 3,916 shares in the first quarter.
• During the same period, several institutional investors increased their stakes, with Dodge & Cox boosting their holdings by 42.1% to own 13.6 million shares.
• Sun Communities recently posted earnings of $1.76 per share, surpassing expectations, and announced a quarterly dividend of $1.04 per share, yielding 3.2% annually.

Uniplan Investment Counsel Inc. cut its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,083 shares of the real estate investment trust's stock after selling 3,916 shares during the quarter. Uniplan Investment Counsel Inc.'s holdings in Sun Communities were worth $6,186,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Sun Communities by 2.3% during the first quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust's stock valued at $2,308,739,000 after acquiring an additional 403,923 shares in the last quarter. Dodge & Cox increased its stake in 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 purchasing an additional 4,041,802 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Sun Communities by 10.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust's stock worth $787,029,000 after buying an additional 568,514 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Sun Communities by 103.7% during the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust's stock worth $207,294,000 after buying an additional 820,422 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sun Communities by 3.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,364,311 shares of the real estate investment trust's stock valued at $167,769,000 after buying an additional 40,832 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Price Performance

Shares of NYSE SUI opened at $129.69 on Friday. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 6.70 and a beta of 0.86. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83. The firm's 50 day simple moving average is $125.62 and its 200-day simple moving average is $125.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08.

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, beating the consensus estimate of $1.67 by $0.09. The firm had revenue of $623.50 million during the quarter, compared to analysts' expectations 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 period in the previous year, the business 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. Analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.2%. Sun Communities's dividend payout ratio (DPR) is 40.70%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a research report on Tuesday, May 20th. Truist Financial lifted their target price on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a report on Thursday. Robert W. Baird lifted their price objective on shares of Sun Communities from $126.00 to $134.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company reduced 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 research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.

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.