Bank of New York Mellon Corp Cuts Stake in Sun Communities, Inc. $SUI

Bank of New York Mellon Corp cut its stake in Sun Communities, Inc. (NYSE:SUI) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 682,504 shares of the real estate investment trust’s stock after selling 9,513 shares during the period. Bank of New York Mellon Corp owned approximately 0.55% of Sun Communities worth $85,968,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. raised its holdings in Sun Communities by 8.8% in the fourth quarter. Whittier Trust Co. now owns 264,511 shares of the real estate investment trust’s stock valued at $32,495,000 after buying an additional 21,364 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Sun Communities by 9.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 110,415 shares of the real estate investment trust’s stock worth $13,564,000 after buying an additional 9,268 shares during the period. Legal & General Group Plc grew its stake in Sun Communities by 6.4% during the fourth quarter. Legal & General Group Plc now owns 1,080,585 shares of the real estate investment trust’s stock worth $133,895,000 after buying an additional 65,053 shares during the period. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Sun Communities in the fourth quarter worth $1,549,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Sun Communities by 503.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 78,736 shares of the real estate investment trust’s stock valued at $9,673,000 after acquiring an additional 65,694 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SUI shares. Barclays reduced their target price on shares of Sun Communities from $147.00 to $146.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings cut Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wells Fargo & Company decreased their target price on Sun Communities from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Finally, Royal Bank Of Canada lowered their target price on Sun Communities from $151.00 to $149.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Sun Communities currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.05.

Sun Communities Price Performance

SUI opened at $119.04 on Wednesday. Sun Communities, Inc. has a twelve month low of $115.53 and a twelve month high of $137.85. The firm has a market cap of $14.67 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 3.97 and a beta of 0.79. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $122.13 and a 200 day simple moving average of $126.48.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($1.38). The firm had revenue of $500.50 million during the quarter, compared to analysts’ expectations of $472.40 million. Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. Equities research analysts expect that Sun Communities, Inc. will post 6.9 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s dividend payout ratio (DPR) is 40.69%.

Insider Activity at Sun Communities

In other news, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the completion of the sale, the director owned 857,761 shares of the company’s stock, valued at approximately $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the sale, the executive vice president directly owned 9,998 shares of the company’s stock, valued at $1,244,051.14. The trade was a 70.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.58% of the stock is owned by insiders.

About Sun Communities

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.