Allstate Corp Increases Stock Holdings in Sun Communities, Inc. $SUI

Allstate Corp raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 215.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,113 shares of the real estate investment trust’s stock after purchasing an additional 11,007 shares during the period. Allstate Corp’s holdings in Sun Communities were worth $1,997,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Sun Communities by 1.4% during the third quarter. Vanguard Group Inc. now owns 18,289,956 shares of the real estate investment trust’s stock worth $2,359,404,000 after buying an additional 249,501 shares in the last quarter. Dodge & Cox increased its position in Sun Communities by 2.0% during the third quarter. Dodge & Cox now owns 14,480,815 shares of the real estate investment trust’s stock worth $1,868,025,000 after buying an additional 282,055 shares in the last quarter. State Street Corp increased its position in Sun Communities by 4.2% during the third quarter. State Street Corp now owns 5,383,984 shares of the real estate investment trust’s stock worth $699,862,000 after buying an additional 214,634 shares in the last quarter. Wellington Management Group LLP increased its position in Sun Communities by 1,224.1% during the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock worth $578,668,000 after buying an additional 4,147,015 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Sun Communities by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,788,913 shares of the real estate investment trust’s stock worth $230,770,000 after buying an additional 51,404 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings downgraded shares of Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Sun Communities in a report on Thursday, May 14th. Colliers Securities upgraded shares of Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a report on Friday, May 22nd. Barclays lowered their price objective on Sun Communities from $148.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Finally, Robert W. Baird lifted their price objective on Sun Communities from $136.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, March 6th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.84.

Sun Communities Price Performance

SUI stock opened at $125.10 on Friday. The stock has a 50-day moving average price of $127.20 and a two-hundred day moving average price of $127.58. Sun Communities, Inc. has a 12-month low of $115.53 and a 12-month high of $137.85. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.60. The company has a market cap of $15.42 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 4.11 and a beta of 0.82.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The firm had revenue of $500.50 million for the quarter, compared to analysts’ expectations of $472.40 million. During the same period last year, the firm posted $1.26 EPS. Sun Communities’s revenue was up 8.0% on a year-over-year basis. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. As a group, research analysts predict that Sun Communities, Inc. will post 6.92 EPS for the current year.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $1.12 per share. This is an increase from Sun Communities’s previous quarterly dividend of $1.04. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, March 31st. Sun Communities’s payout ratio is presently 40.69%.

Insider Activity at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 3,200 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $136.15, for a total transaction of $435,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total value of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares of the company’s stock, valued at $1,244,051.14. The trade was a 70.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,750 shares of company stock valued at $3,907,731. 1.58% of the stock is owned by insiders.

Sun Communities Company Profile

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.