Vanguard Group Inc. Has $2.28 Billion Holdings in Sun Communities, Inc. $SUI

Vanguard Group Inc. increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,040,455 shares of the real estate investment trust’s stock after purchasing an additional 93,170 shares during the period. Vanguard Group Inc. owned about 14.42% of Sun Communities worth $2,281,937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SUI. GAMMA Investing LLC grew its stake in shares of Sun Communities by 8.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 84 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Sun Communities by 0.4% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust’s stock worth $3,487,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. boosted its stake in Sun Communities by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust’s stock valued at $322,000 after buying an additional 102 shares in the last quarter. HB Wealth Management LLC boosted its stake in Sun Communities by 3.4% in the 1st quarter. HB Wealth Management LLC now owns 5,361 shares of the real estate investment trust’s stock valued at $690,000 after buying an additional 178 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in Sun Communities in the first quarter valued at $29,000. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SUI. Jefferies Financial Group set a $142.00 price objective on Sun Communities and gave the company a “buy” rating in a report on Monday, November 3rd. Robert W. Baird increased their target price on shares of Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial lifted their price target on shares of Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company raised their target price on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Finally, Royal Bank Of Canada lifted their price target on Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $137.83.

Sun Communities Stock Performance

SUI stock opened at $128.28 on Friday. The company has a 50 day moving average price of $125.94 and a 200 day moving average price of $125.46. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $137.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The stock has a market capitalization of $15.86 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results 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. The company had revenue of $697.20 million during 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%. Sun Communities’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. Analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. Sun Communities’s dividend payout ratio is 52.13%.

Insider Buying and Selling at Sun Communities

In other news, Director Clunet R. Lewis sold 4,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $126.24, for a total value of $504,960.00. Following the transaction, the director directly owned 26,000 shares in the company, valued at $3,282,240. This trade represents a 13.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.77% of the stock is currently owned by company insiders.

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.