National Pension Service Boosts Stock Position in Sun Communities, Inc. $SUI

National Pension Service boosted its position in Sun Communities, Inc. (NYSE:SUI) by 340.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,974 shares of the real estate investment trust’s stock after purchasing an additional 1,526 shares during the quarter. National Pension Service’s holdings in Sun Communities were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Dodge & Cox raised its position in shares of Sun Communities by 42.1% in the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock valued at $1,755,656,000 after buying an additional 4,041,802 shares during the last quarter. Nuveen LLC purchased a new stake in Sun Communities in the 1st quarter worth approximately $112,395,000. Deutsche Bank AG raised its holdings in Sun Communities by 103.7% in the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock valued at $207,294,000 after acquiring an additional 820,422 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Sun Communities during the first quarter worth $67,256,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group set a $142.00 target price on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Wells Fargo & Company lifted their price target on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a report on Thursday, September 4th. Royal Bank Of Canada boosted their target price on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $137.58.

Insiders Place Their Bets

In related news, Director Clunet R. Lewis sold 4,000 shares of the stock in a transaction on Monday, November 10th. The stock was 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. This represents a 13.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.77% of the company’s stock.

Sun Communities Stock Up 1.1%

Shares of NYSE:SUI opened at $126.85 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $137.77. The stock has a market capitalization of $15.69 billion, a P/E ratio of 15.90, a PEG ratio of 4.05 and a beta of 0.86. The stock has a 50-day simple moving average of $126.33 and a 200-day simple moving average of $125.55.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, beating the consensus estimate of $2.18 by $0.10. The firm had revenue of $697.20 million for 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%. Sun Communities’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm 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 forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $1.04 per share. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities’s payout ratio is presently 52.13%.

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.