Cannon Global Investment Management LLC Takes $1.50 Million Position in Sun Communities, Inc. $SUI

Cannon Global Investment Management LLC acquired a new stake in Sun Communities, Inc. (NYSE:SUI) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 11,900 shares of the real estate investment trust’s stock, valued at approximately $1,499,000. Sun Communities comprises approximately 2.9% of Cannon Global Investment Management LLC’s holdings, making the stock its 3rd largest holding.

A number of other hedge funds also recently added to or reduced their stakes in SUI. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Sun Communities by 1,226.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sun Communities in the 3rd quarter worth approximately $27,000. Fulcrum Asset Management LLP purchased a new stake in shares of Sun Communities in the 3rd quarter worth approximately $27,000. Global X Japan Co. Ltd. bought a new position in shares of Sun Communities during the fourth quarter valued at approximately $33,000. Finally, Assetmark Inc. boosted its stake in shares of Sun Communities by 55.7% during the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 97 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Sun Communities from $147.00 to $141.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Wells Fargo & Company dropped their target price on Sun Communities from $150.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Mizuho began coverage on Sun Communities in a report on Tuesday, March 31st. They issued an “outperform” rating and a $143.00 price target on the stock. Barclays reduced their price target on Sun Communities from $148.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Sun Communities in a research note on Thursday, May 14th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Sun Communities has a consensus rating of “Moderate Buy” and a consensus price target of $141.12.

Sun Communities Trading Down 1.2%

NYSE:SUI opened at $118.46 on Friday. The stock has a market capitalization of $14.60 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 3.94 and a beta of 0.79. Sun Communities, Inc. has a 52 week low of $115.53 and a 52 week high of $137.85. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $124.62 and a 200 day moving average of $126.85.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($1.38). The firm had revenue of $500.50 million during the quarter, compared to analysts’ expectations of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.Sun Communities’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 earnings per share. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.94 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, June 30th. Sun Communities’s payout ratio is 40.69%.

Insider Buying and Selling at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director directly owned 857,761 shares of the company’s stock, valued at $102,897,009.56. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total value of $2,955,212.50. Following the transaction, the executive vice president directly owned 9,998 shares in the company, valued at $1,244,051.14. This represents a 70.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.58% of the stock is owned by insiders.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.