Sun Communities (NYSE:SUI) Director Clunet Lewis Sells 4,000 Shares

Sun Communities, Inc. (NYSE:SUI) Director Clunet Lewis sold 4,000 shares of the company’s 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 completion of the transaction, the director owned 26,000 shares in the company, valued at approximately $3,282,240. The trade was a 13.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sun Communities Price Performance

NYSE:SUI traded down $0.18 during trading hours on Wednesday, hitting $127.70. The stock had a trading volume of 135,263 shares, compared to its average volume of 861,617. The company has a 50 day simple moving average of $126.42 and a two-hundred day simple moving average of $125.50. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 4.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $137.77.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.10. The firm had revenue of $697.20 million for the quarter, compared to analysts’ expectations of $713.32 million. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.51%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. Research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is 52.13%.

Hedge Funds Weigh In On Sun Communities

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sun Communities in the third quarter worth about $27,000. Twin Tree Management LP bought a new position in shares of Sun Communities during the 1st quarter valued at approximately $29,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Sun Communities in the second quarter valued at $30,000. Ransom Advisory Ltd bought a new stake in Sun Communities in the first quarter worth $31,000. Finally, MAI Capital Management raised its stake in Sun Communities by 164.4% during the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 166 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SUI has been the topic of several recent analyst reports. Robert W. Baird raised their target price on Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Truist Financial lifted their price target on shares of Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Evercore ISI lifted their target price on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $137.31.

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.