Allstate Corp Takes Position in Sun Communities, Inc. $SUI

Allstate Corp bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the third quarter, Holdings Channel reports. The institutional investor bought 5,106 shares of the real estate investment trust’s stock, valued at approximately $659,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elevation Point Wealth Partners LLC bought a new stake in Sun Communities in the second quarter valued at $30,000. MAI Capital Management grew its stake in shares of Sun Communities by 164.4% in the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 166 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Sun Communities in the 3rd quarter valued at about $37,000. Farther Finance Advisors LLC raised its stake in Sun Communities by 179.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 313 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 201 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Sun Communities during the 2nd quarter worth approximately $47,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $125.45 on Friday. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58. The stock has a market cap of $15.51 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 4.12 and a beta of 0.90. The stock’s fifty day simple moving average is $125.39 and its two-hundred day simple moving average is $125.68. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $137.77.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, beating the consensus estimate of $2.18 by $0.10. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.53%. The company had revenue of $697.20 million during the quarter, compared to the consensus estimate of $713.32 million. During the same quarter in the prior year, the company posted $2.34 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS and its FY 2025 guidance at 6.590-6.670 EPS. As a group, analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities’s dividend payout ratio (DPR) is currently 52.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SUI shares. Jefferies Financial Group set a $142.00 price objective on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Wells Fargo & Company increased their target price on Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Tuesday. Barclays restated an “overweight” rating and set a $144.00 price objective on shares of Sun Communities in a report on Tuesday, January 13th. Finally, Robert W. Baird lifted their price objective on shares of Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Six 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.46.

Insider Buying and Selling

In other news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total value of $19,378,768.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Clunet R. Lewis sold 4,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $126.24, for a total value of $504,960.00. Following the sale, the director directly owned 26,000 shares of the company’s stock, valued at $3,282,240. The trade was a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.77% of the stock is owned by insiders.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.