Sun Communities, Inc. $SUI Position Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 9.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,405 shares of the real estate investment trust’s stock after selling 536 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sun Communities were worth $684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SUI. Park Avenue Securities LLC grew its stake in Sun Communities by 15.2% during the 1st quarter. Park Avenue Securities LLC now owns 5,542 shares of the real estate investment trust’s stock valued at $713,000 after acquiring an additional 731 shares in the last quarter. Yousif Capital Management LLC grew its stake in Sun Communities by 4.2% during the 1st quarter. Yousif Capital Management LLC now owns 6,575 shares of the real estate investment trust’s stock valued at $846,000 after acquiring an additional 263 shares in the last quarter. GAMMA Investing LLC grew its stake in Sun Communities by 23.8% during the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 201 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Sun Communities by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,162 shares of the real estate investment trust’s stock valued at $1,693,000 after acquiring an additional 184 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Sun Communities during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SUI. Royal Bank Of Canada lowered their price target on Sun Communities from $147.00 to $143.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday. Robert W. Baird boosted their price target on Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Wells Fargo & Company lowered their price target on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the company a “hold” rating in a research note on Wednesday, June 25th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus target price of $137.86.

Sun Communities Stock Up 0.5%

SUI opened at $123.34 on Friday. The business has a 50 day moving average price of $127.28 and a 200 day moving average price of $125.31. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month 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 firm has a market cap of $15.44 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 6.33 and a beta of 0.86.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share 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 during the quarter, compared to analyst estimates of $614.79 million. During the same period in the previous year, the company 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. Research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.04 per share. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.4%. Sun Communities’s payout ratio is 40.70%.

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.