Sun Communities, Inc. $SUI Stake Lessened by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its holdings in Sun Communities, Inc. (NYSE:SUI) by 9.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,786 shares of the real estate investment trust’s stock after selling 1,886 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sun Communities were worth $2,376,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SUI. Versor Investments LP grew its stake in Sun Communities by 92.5% during the 1st quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust’s stock valued at $842,000 after acquiring an additional 3,145 shares in the last quarter. Aew Capital Management L P boosted its holdings in shares of Sun Communities by 7.2% during the second quarter. Aew Capital Management L P now owns 205,190 shares of the real estate investment trust’s stock worth $25,954,000 after purchasing an additional 13,730 shares during the period. Deutsche Bank AG grew its position in 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 valued at $207,294,000 after purchasing an additional 820,422 shares in the last quarter. American National Bank & Trust acquired a new position in Sun Communities in the 2nd quarter valued at approximately $759,000. Finally, GAMMA Investing LLC increased its stake in Sun Communities by 8.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 84 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of Sun Communities stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $126.24, for a total transaction of $504,960.00. Following the sale, the director directly owned 26,000 shares of the company’s stock, valued at approximately $3,282,240. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Wells Fargo & Company boosted their target price on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Robert W. Baird upped their target price on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Morgan Stanley cut their price target on Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Wall Street Zen raised Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $137.42.

Sun Communities Stock Up 0.2%

Shares of Sun Communities stock opened at $128.84 on Friday. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $125.98 and a two-hundred day moving average price of $125.60. The stock has a market capitalization of $15.93 billion, a P/E ratio of 16.15, a PEG ratio of 4.05 and a beta of 0.86.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. The company had revenue of $697.20 million for the quarter, compared to analyst estimates of $713.32 million. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.51%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. Equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is 52.13%.

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.