Sun Communities (NYSE:SUI) Director Clunet Lewis Sells 4,000 Shares of Stock

Sun Communities, Inc. (NYSE:SUI) Director Clunet Lewis sold 4,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $3,282,240. This trade represents a 13.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $126.98 on Thursday. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The stock has a market cap of $15.70 billion, a PE ratio of 15.91, a PEG ratio of 4.05 and a beta of 0.86. The company’s fifty day moving average is $126.45 and its 200 day moving average is $125.51. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $137.77.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.10. The business had revenue of $697.20 million during the quarter, compared to analyst estimates of $713.32 million. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.51%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business 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. Research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared 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 yield of 3.3%. The ex-dividend date was Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 52.13%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial upped their price target 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. Royal Bank Of Canada increased their price target on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sun Communities presently has an average rating of “Hold” and an average target price of $137.31.

Hedge Funds Weigh In On Sun Communities

Several hedge funds have recently made changes to their positions in SUI. Versor Investments LP increased its holdings in Sun Communities by 92.5% in the 1st quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust’s stock worth $842,000 after acquiring an additional 3,145 shares in the last quarter. Aew Capital Management L P lifted its holdings in Sun Communities by 7.2% during the second quarter. Aew Capital Management L P now owns 205,190 shares of the real estate investment trust’s stock valued at $25,954,000 after purchasing an additional 13,730 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock worth $207,294,000 after purchasing an additional 820,422 shares during the period. American National Bank & Trust bought a new position in shares of Sun Communities in the second quarter worth approximately $759,000. Finally, GW&K Investment Management LLC increased its stake in shares of Sun Communities by 0.5% in the first quarter. GW&K Investment Management LLC now owns 427,329 shares of the real estate investment trust’s stock worth $54,972,000 after purchasing an additional 2,293 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

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.