Penserra Capital Management LLC Sells 580 Shares of Sun Communities, Inc. $SUI

Penserra Capital Management LLC decreased its position in Sun Communities, Inc. (NYSE:SUI) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,720 shares of the real estate investment trust’s stock after selling 580 shares during the quarter. Penserra Capital Management LLC’s holdings in Sun Communities were worth $596,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Sun Communities by 2.3% during the first quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust’s stock worth $2,308,739,000 after acquiring an additional 403,923 shares during the period. Dodge & Cox increased its position in shares of Sun Communities by 42.1% during the 1st quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock valued at $1,755,656,000 after purchasing an additional 4,041,802 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Sun Communities by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after purchasing an additional 568,514 shares during the period. Deutsche Bank AG raised its stake in shares of Sun Communities by 103.7% during the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock worth $207,294,000 after purchasing an additional 820,422 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Sun Communities by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,404,160 shares of the real estate investment trust’s stock worth $180,631,000 after buying an additional 39,849 shares during the last quarter. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SUI. Wells Fargo & Company raised their price objective on shares of Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday. Morgan Stanley set a $142.00 target price on shares of Sun Communities in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. 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. Finally, Truist Financial increased their price objective on Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $137.31.

Sun Communities Stock Performance

NYSE SUI opened at $127.98 on Wednesday. The firm has a market cap of $15.83 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86. 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 company’s 50 day moving average is $126.42 and its 200-day moving average is $125.50. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, topping 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 4.51%. The company had revenue of $697.20 million during the quarter, compared to the consensus estimate of $713.32 million. During the same period last year, the firm earned $2.34 EPS. Sun Communities’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. FY 2025 guidance at 6.590-6.670 EPS. Sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $1.04 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities’s payout ratio 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.