SG Americas Securities LLC Takes Position in Sun Communities, Inc. $SUI

SG Americas Securities LLC bought a new position in Sun Communities, Inc. (NYSE:SUI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,971 shares of the real estate investment trust’s stock, valued at approximately $1,008,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SUI. Vanguard Group Inc. increased its stake in shares of Sun Communities by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust’s stock worth $2,308,739,000 after purchasing an additional 403,923 shares during the last quarter. Dodge & Cox increased its position in Sun Communities by 42.1% during the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock worth $1,755,656,000 after acquiring an additional 4,041,802 shares during the period. Price T Rowe Associates Inc. MD grew its position in Sun Communities by 10.2% during the first 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 buying an additional 568,514 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sun Communities by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,296,740 shares of the real estate investment trust’s stock worth $289,630,000 after buying an additional 52,502 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Sun Communities by 103.7% in 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 buying an additional 820,422 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In other news, Director Clunet R. Lewis sold 4,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $126.24, for a total value of $504,960.00. Following the completion of the sale, the director owned 26,000 shares of the company’s stock, valued at approximately $3,282,240. This represents a 13.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.77% of the company’s stock.

Analyst Ratings Changes

SUI has been the subject of a number of research reports. Morgan Stanley set a $142.00 target price on Sun Communities in a research note on Thursday, September 4th. Wells Fargo & Company increased their price target on shares of Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Jefferies Financial Group set a $142.00 price target on Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Royal Bank Of Canada raised their target price on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Five equities 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.83.

Sun Communities Trading Up 2.5%

Shares of Sun Communities stock opened at $128.28 on Friday. The firm’s 50-day moving average price is $125.94 and its two-hundred day moving average price is $125.47. The company has a market capitalization of $15.86 billion, a price-to-earnings ratio of 16.08, a PEG 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. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data 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 4.51%. The business had revenue of $697.20 million during the quarter, compared to the consensus estimate of $713.32 million. During the same period in the previous year, the business earned $2.34 earnings per share. The company’s revenue 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. On average, analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 30th. 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.