Sun Communities, Inc. $SUI Stake Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in Sun Communities, Inc. (NYSE:SUI) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,131 shares of the real estate investment trust’s stock after buying an additional 84 shares during the period. GAMMA Investing LLC’s holdings in Sun Communities were worth $143,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of 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 valued at $2,308,739,000 after buying an additional 403,923 shares in the last quarter. Dodge & Cox grew its holdings in shares of 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 valued at $1,755,656,000 after buying an additional 4,041,802 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 568,514 shares during the period. Deutsche Bank AG boosted its holdings in shares of Sun Communities by 103.7% during the first 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% during the first 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 purchasing an additional 39,849 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SUI shares. Robert W. Baird raised their price target on shares of Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the stock a “hold” rating in a report on Wednesday, June 25th. Truist Financial raised their price target on shares of Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a report on Thursday, September 4th. Finally, Colliers Securities assumed coverage on shares of Sun Communities in a research note on Friday, June 13th. They issued a “neutral” rating and a $130.00 target price for the company. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sun Communities has an average rating of “Hold” and an average price target of $137.86.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $129.01 on Tuesday. The firm has a fifty day simple moving average of $126.34 and a 200-day simple moving average of $125.50. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $140.49. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 6.64 and a beta of 0.86.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The business had revenue of $623.50 million during the quarter, compared to analysts’ expectations of $614.79 million. During the same period in the previous year, the company earned $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, sell-side analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Sun Communities’s payout ratio is presently 40.70%.

Sun Communities Company Profile

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.