Sun Communities, Inc. $SUI Shares Sold by Uniplan Investment Counsel Inc.

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 stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,083 shares of the real estate investment trust's stock after selling 3,916 shares during the period. 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 recently added to or reduced their stakes in SUI. Mercer Global Advisors Inc. ADV increased its stake in Sun Communities by 112.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,196 shares of the real estate investment trust's stock valued at $1,008,000 after purchasing an additional 4,342 shares during the last quarter. Baird Financial Group Inc. increased its stake in Sun Communities by 5.7% during the fourth quarter. Baird Financial Group Inc. now owns 4,381 shares of the real estate investment trust's stock valued at $539,000 after purchasing an additional 238 shares during the last quarter. Captrust Financial Advisors increased its stake in Sun Communities by 3.7% during the fourth quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock valued at $446,000 after purchasing an additional 128 shares during the last quarter. Cresset Asset Management LLC increased its stake in Sun Communities by 13.7% during the fourth quarter. Cresset Asset Management LLC now owns 3,830 shares of the real estate investment trust's stock valued at $474,000 after purchasing an additional 461 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Sun Communities by 398.5% during the fourth quarter. Deutsche Bank AG now owns 791,003 shares of the real estate investment trust's stock valued at $97,270,000 after purchasing an additional 632,331 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. Colliers Securities assumed coverage on shares of Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 target price for the company. Wells Fargo & Company lowered 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 research note on Wednesday, August 27th. Royal Bank Of Canada lowered their target price on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Finally, Morgan Stanley set a $142.00 target price on shares of Sun Communities in a research note on Thursday, September 4th. 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's stock. According to MarketBeat, Sun Communities currently has an average rating of "Hold" and an average target price of $138.71.

Sun Communities Stock Performance

Shares of Sun Communities stock traded down $0.89 during trading on Friday, hitting $130.39. 209,570 shares of the stock were exchanged, compared to its average volume of 873,945. The stock's fifty day moving average is $125.76 and its 200 day moving average is $125.88. The stock has a market cap of $16.32 billion, a PE ratio of 12.76, a P/E/G ratio of 6.63 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company 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. As a group, sell-side analysts anticipate 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. Investors of record on Tuesday, September 30th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.2%. Sun Communities's dividend payout ratio is presently 40.70%.

About Sun Communities

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.