Tributary Capital Management LLC Sells 90 Shares of Sun Communities, Inc. $SUI

Tributary Capital Management LLC reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,015 shares of the real estate investment trust’s stock after selling 90 shares during the period. Tributary Capital Management LLC’s holdings in Sun Communities were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Ethic Inc. grew its stake in shares of Sun Communities by 7.8% in the 2nd quarter. Ethic Inc. now owns 8,493 shares of the real estate investment trust’s stock valued at $1,076,000 after purchasing an additional 612 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Sun Communities by 2.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 113,262 shares of the real estate investment trust’s stock valued at $14,326,000 after purchasing an additional 3,195 shares during the period. Whittier Trust Co. grew its stake in shares of Sun Communities by 6.5% in the 2nd quarter. Whittier Trust Co. now owns 261,251 shares of the real estate investment trust’s stock valued at $33,045,000 after purchasing an additional 15,935 shares during the period. VCI Wealth Management LLC grew its stake in shares of Sun Communities by 13.4% in the 2nd quarter. VCI Wealth Management LLC now owns 8,216 shares of the real estate investment trust’s stock valued at $1,039,000 after purchasing an additional 973 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Sun Communities by 0.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 110,373 shares of the real estate investment trust’s stock worth $13,864,000 after acquiring an additional 488 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Down 1.9%

NYSE:SUI opened at $123.27 on Friday. The stock’s fifty day moving average price is $126.89 and its two-hundred day moving average price is $125.08. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $140.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 6.46 and a beta of 0.86.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.09. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The firm had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. During the same quarter in the prior year, the business earned $1.86 EPS. 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, analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

SUI has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. Evercore ISI boosted their target price on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Truist Financial boosted their target price on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wells Fargo & Company reduced their target price on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Finally, Morgan Stanley set a $142.00 target price on Sun Communities in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $137.86.

About Sun Communities

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.