Cascade Investment Advisors Inc. Sells 120 Shares of Sun Communities, Inc. $SUI

Cascade Investment Advisors Inc. cut its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,353 shares of the real estate investment trust’s stock after selling 120 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Sun Communities were worth $1,310,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SUI. Opal Wealth Advisors LLC bought a new position in shares of Sun Communities during the 1st quarter valued at approximately $29,000. Twin Tree Management LP bought a new position in shares of Sun Communities during the 1st quarter valued at approximately $29,000. Ransom Advisory Ltd bought a new position in shares of Sun Communities during the 1st quarter valued at approximately $31,000. GKV Capital Management Co. Inc. bought a new position in shares of Sun Communities during the 1st quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Sun Communities during the 2nd quarter valued at approximately $47,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Trading Up 0.5%

Sun Communities stock opened at $123.34 on Monday. The stock has a 50-day moving average of $127.28 and a two-hundred day moving average of $125.26. 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 one year low of $109.22 and a one year high of $140.49. The stock has a market cap of $15.44 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 6.36 and a beta of 0.86.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The company had revenue of $623.50 million during the quarter, compared to analysts’ expectations of $614.79 million. During the same period last year, the business 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. On average, research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 40.70%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SUI. Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Evercore ISI boosted their price target on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the stock a “hold” rating in a report on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $137.86.

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.