Sun Communities, Inc. $SUI Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its position in Sun Communities, Inc. (NYSE:SUI) by 2.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 166,135 shares of the real estate investment trust’s stock after acquiring an additional 4,202 shares during the period. Rhumbline Advisers’ holdings in Sun Communities were worth $21,014,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Twin Tree Management LP bought a new stake in Sun Communities in the first quarter worth about $29,000. Ransom Advisory Ltd bought a new position in shares of Sun Communities during the 1st quarter valued at about $31,000. MAI Capital Management grew its stake in shares of Sun Communities by 164.4% in the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 166 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in shares of Sun Communities in the 1st quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC acquired a new stake in Sun Communities during the second quarter valued at approximately $47,000. Institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SUI. Royal Bank Of Canada lifted their price target on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group set a $142.00 target price on Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Robert W. Baird upped their target price on Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Truist Financial increased their price target on Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Evercore ISI lifted their price target on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $137.42.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $128.68 on Friday. The company’s fifty day moving average is $125.96 and its two-hundred day moving average is $125.58. The company has a market cap of $15.91 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77. 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 (NYSE:SUI) last issued its quarterly 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 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%.Sun Communities’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $1.04 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.2%. Sun Communities’s dividend payout ratio is currently 52.13%.

Insider Activity

In related 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 sale, the director directly owned 26,000 shares in the company, valued at approximately $3,282,240. This trade represents a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.77% of the stock is owned by company insiders.

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.