Candriam S.C.A. Grows Stake in Sun Communities, Inc. $SUI

Candriam S.C.A. increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 1,688.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 131,790 shares of the real estate investment trust’s stock after purchasing an additional 124,420 shares during the quarter. Candriam S.C.A. owned 0.11% of Sun Communities worth $16,671,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Versor Investments LP grew its stake 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 valued at $842,000 after acquiring an additional 3,145 shares during the last quarter. Aew Capital Management L P raised its position 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 worth $25,954,000 after acquiring an additional 13,730 shares during the last quarter. Deutsche Bank AG raised its position in Sun Communities by 103.7% during 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 acquiring an additional 820,422 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Sun Communities in the second quarter valued at about $759,000. Finally, GW&K Investment Management LLC grew its position 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 valued at $54,972,000 after purchasing an additional 2,293 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Trading Down 1.0%

Shares of Sun Communities stock opened at $125.59 on Friday. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $137.77. The business’s fifty day moving average is $126.38 and its two-hundred day moving average is $125.51. 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 firm has a market cap of $15.53 billion, a PE ratio of 15.74, a P/E/G ratio of 4.05 and a beta of 0.86.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The business had revenue of $697.20 million during the quarter, compared to the consensus estimate of $713.32 million. During the same quarter in the previous year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 30th. Sun Communities’s dividend payout ratio is presently 52.13%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Truist Financial raised their price target on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Evercore ISI boosted their price target on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Jefferies Financial Group set a $142.00 price objective on Sun Communities and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada increased their price objective on Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $137.58.

Insider Activity

In related news, Director Clunet R. Lewis sold 4,000 shares of the business’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 value 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. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.77% of the company’s stock.

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.