Sun Communities, Inc. $SUI Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 35.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,367 shares of the real estate investment trust’s stock after selling 1,316 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Sun Communities were worth $299,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Lincluden Management Ltd. purchased a new position in shares of Sun Communities in the 2nd quarter valued at about $2,843,000. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Sun Communities by 47.3% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,378 shares of the real estate investment trust’s stock valued at $1,060,000 after purchasing an additional 2,689 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in Sun Communities by 6.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 6,141 shares of the real estate investment trust’s stock valued at $777,000 after acquiring an additional 376 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in Sun Communities by 1.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 43,500 shares of the real estate investment trust’s stock valued at $5,541,000 after acquiring an additional 800 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in Sun Communities during the 2nd quarter valued at about $2,307,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Sun Communities to a “strong-buy” rating in a report on Monday. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Truist Financial raised their target price on shares of Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Robert W. Baird raised their target price on shares of Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada dropped their target price on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned 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 has a consensus rating of “Hold” and an average target price of $137.86.

Sun Communities Stock Performance

Shares of NYSE SUI opened at $123.27 on Friday. The company has a market cap of $15.43 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 6.46 and a beta of 0.86. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $140.49. 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 company has a 50-day simple moving average of $126.89 and a 200-day simple moving average of $125.08.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The business had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the previous year, the firm posted $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, equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.4%. Sun Communities’s payout ratio is 40.70%.

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.