Sun Communities, Inc. $SUI Shares Sold by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,353 shares of the real estate investment trust’s stock after selling 120 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Sun Communities were worth $1,310,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SUI. Vanguard Group Inc. grew its holdings in Sun Communities by 2.3% during the first quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust’s stock worth $2,308,739,000 after acquiring an additional 403,923 shares during the period. Dodge & Cox grew its stake in shares of Sun Communities by 42.1% during the 1st quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock worth $1,755,656,000 after purchasing an additional 4,041,802 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Sun Communities by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after purchasing an additional 568,514 shares during the period. Deutsche Bank AG grew its stake in shares of Sun Communities by 103.7% during the 1st 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Sun Communities by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,404,160 shares of the real estate investment trust’s stock worth $180,631,000 after purchasing an additional 39,849 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Sun Communities stock opened at $123.34 on Monday. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year 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 company’s fifty day moving average price is $127.28 and its 200 day moving average price is $125.26. The stock has a market capitalization of $15.44 billion, a P/E ratio of 12.07, a P/E/G ratio of 6.36 and a beta of 0.86.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The company had revenue of $623.50 million for the quarter, compared to analysts’ expectations of $614.79 million. During the same quarter in the previous year, the company posted $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. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Sun Communities’s payout ratio is 40.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SUI shares. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Robert W. Baird raised their price objective on shares of Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Wells Fargo & Company dropped their price objective on shares of Sun Communities from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a research note on Thursday, September 4th. Finally, Royal Bank Of Canada dropped their price objective on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research note on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $137.86.

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.