Waratah Capital Advisors Ltd. Buys Shares of 127,955 Sun Communities, Inc. $SUI

Waratah Capital Advisors Ltd. purchased a new stake in Sun Communities, Inc. (NYSE:SUI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 127,955 shares of the real estate investment trust’s stock, valued at approximately $16,185,000. Waratah Capital Advisors Ltd. owned about 0.10% of Sun Communities as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Twin Tree Management LP acquired a new stake in Sun Communities in the first quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in shares of Sun Communities in the first quarter worth about $31,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Sun Communities in the 1st quarter valued at approximately $42,000. V Square Quantitative Management LLC acquired a new stake in shares of Sun Communities in the 2nd quarter valued at approximately $47,000. Finally, Avalon Trust Co bought a new stake in shares of Sun Communities during the 1st quarter valued at approximately $65,000. 99.59% of the stock is currently owned by institutional investors.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 26,000 shares in the company, valued at approximately $3,282,240. This trade represents a 13.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SUI shares. Royal Bank Of Canada increased their price objective on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Truist Financial increased their price target on Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Morgan Stanley set a $142.00 price objective on Sun Communities in a research report on Thursday, September 4th. Evercore ISI upped 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sun Communities has a consensus rating of “Hold” and an average target price of $137.58.

Sun Communities Stock Performance

NYSE SUI opened at $126.85 on Friday. The company has a market capitalization of $15.69 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 4.05 and a beta of 0.86. 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, Inc. has a twelve month low of $109.22 and a twelve month high of $137.77. The stock has a fifty day simple moving average of $126.33 and a 200 day simple moving average of $125.55.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, topping the consensus estimate of $2.18 by $0.10. The firm had revenue of $697.20 million for the quarter, compared to the consensus estimate of $713.32 million. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. Sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

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

Sun Communities Company 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.