Employees Retirement System of Texas Has $5.76 Million Position in Sun Communities, Inc. $SUI

Employees Retirement System of Texas cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 27.0% during the second quarter, HoldingsChannel reports. The firm owned 45,534 shares of the real estate investment trust’s stock after selling 16,882 shares during the period. Employees Retirement System of Texas’ holdings in Sun Communities were worth $5,760,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Twin Tree Management LP bought a new position in Sun Communities in the 1st quarter worth approximately $29,000. Ransom Advisory Ltd bought a new stake in shares of Sun Communities in the first quarter valued at approximately $31,000. MAI Capital Management boosted its position in shares of Sun Communities by 164.4% in the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 166 shares during the period. GKV Capital Management Co. Inc. acquired a new stake in shares of Sun Communities in the first quarter worth $42,000. Finally, V Square Quantitative Management LLC bought a new position in Sun Communities during the second quarter worth $47,000. Institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group set a $142.00 price target on shares of Sun Communities and gave the company a “buy” rating in a report on Monday, November 3rd. Morgan Stanley dropped their price objective on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday. Evercore ISI increased their target price on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Robert W. Baird lifted their target price on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Finally, Wells Fargo & Company boosted their price target on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $137.42.

Insider Activity at Sun Communities

In related news, Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $126.24, for a total value of $504,960.00. Following the sale, the director owned 26,000 shares of the company’s stock, valued at $3,282,240. The trade was a 13.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.77% of the stock is owned by company insiders.

Sun Communities Price Performance

NYSE:SUI opened at $128.68 on Thursday. 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 50-day moving average of $125.95 and a 200-day moving average of $125.55. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $137.77. The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 4.05 and a beta of 0.86.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. The business had revenue of $697.20 million for the quarter, compared to analysts’ expectations of $713.32 million. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.51%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. As a group, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is 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.