Allstate Corp Makes New Investment in Sun Communities, Inc. $SUI

Allstate Corp bought a new stake in Sun Communities, Inc. (NYSE:SUI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,106 shares of the real estate investment trust’s stock, valued at approximately $659,000.

Several other institutional investors and hedge funds have also modified their holdings of SUI. GAMMA Investing LLC increased its holdings in Sun Communities by 8.0% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sun Communities by 9.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 84 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Sun Communities by 0.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 23,102 shares of the real estate investment trust’s stock valued at $2,922,000 after buying an additional 113 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Sun Communities by 1.3% in the second quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust’s stock valued at $1,181,000 after buying an additional 117 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Sun Communities by 26.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 673 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 141 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Jefferies Financial Group set a $142.00 price target on Sun Communities and gave the company a “buy” rating in a report on Monday, November 3rd. Robert W. Baird lifted their target price on shares of Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price objective on Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sun Communities has a consensus rating of “Hold” and an average target price of $137.46.

Insider Activity at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $126.24, for a total transaction of $504,960.00. Following the sale, the director owned 26,000 shares of the company’s stock, valued at approximately $3,282,240. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The SEC filing for this sale provides additional information. Insiders own 1.77% of the company’s stock.

Sun Communities Stock Up 0.4%

SUI stock opened at $125.45 on Friday. The firm has a market capitalization of $15.51 billion, a PE ratio of 15.72, a PEG ratio of 4.12 and a beta of 0.90. The business’s 50 day simple moving average is $125.39 and its 200 day simple moving average is $125.68. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $137.77. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.10. Sun Communities had a negative return on equity of 4.53% and a net margin of 42.58%.The business had revenue of $697.20 million during the quarter, compared to analysts’ expectations of $713.32 million. During the same period last year, the firm posted $2.34 EPS. The firm’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 and its FY 2025 guidance at 6.590-6.670 EPS. As a group, research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, December 31st. Sun Communities’s payout ratio is currently 52.13%.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.