Envestnet Asset Management Inc. Decreases Stock Holdings in Sun Communities, Inc. $SUI

Envestnet Asset Management Inc. lowered its holdings in Sun Communities, Inc. (NYSE:SUI) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,630 shares of the real estate investment trust’s stock after selling 30,292 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of Sun Communities worth $22,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUI. Dodge & Cox raised its stake in shares of Sun Communities by 42.1% in 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 during the period. Nuveen LLC bought a new stake in shares of Sun Communities during the 1st quarter valued at about $112,395,000. Deutsche Bank AG increased 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 purchasing an additional 568,514 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Sun Communities during the first quarter valued at approximately $67,256,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Up 0.4%

SUI opened at $124.96 on Wednesday. The company has a market capitalization of $15.64 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $137.77. The firm has a 50-day simple moving average of $126.44 and a two-hundred day simple moving average of $125.36. 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 (NYSE:SUI) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $697.20 million during the quarter, compared to analyst estimates of $713.32 million. During the same period last year, the firm posted $2.34 earnings per share. Sun Communities’s revenue for the quarter was up 2.5% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Royal Bank Of Canada lowered their price target on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating for the company in a research report on Friday, August 1st. Morgan Stanley set a $142.00 price target on Sun Communities in a report on Thursday, September 4th. Evercore ISI lifted their price objective on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Finally, Truist Financial increased their target price on Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus price target of $137.29.

Sun Communities 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.