Sun Communities, Inc. $SUI Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Sun Communities, Inc. (NYSE:SUI) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 253,057 shares of the real estate investment trust’s stock after selling 6,089 shares during the quarter. California Public Employees Retirement System’s holdings in Sun Communities were worth $32,009,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Twin Tree Management LP purchased a new position in Sun Communities during the 1st quarter valued at about $29,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Sun Communities during the second quarter worth about $30,000. Ransom Advisory Ltd purchased a new position in shares of Sun Communities in the first quarter valued at approximately $31,000. MAI Capital Management boosted its stake in shares of Sun Communities by 164.4% in the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 166 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Sun Communities in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SUI shares. Jefferies Financial Group set a $142.00 target price on shares of Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Evercore ISI upped their price objective on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Truist Financial increased their price objective on Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Robert W. Baird boosted their target price on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Finally, Royal Bank Of Canada upped their price target on Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.42.

Insiders Place Their Bets

In related news, Director Clunet R. Lewis sold 4,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $3,282,240. The trade was a 13.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.77% of the company’s stock.

Sun Communities Stock Down 0.6%

Shares of NYSE SUI opened at $122.32 on Thursday. The company has a market capitalization of $15.13 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 4.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.01 and a quick ratio of 6.01. The business has a 50-day moving average of $125.59 and a two-hundred day moving average of $125.88. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $137.77.

Sun Communities (NYSE:SUI) last released 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 4.53% and a net margin of 42.58%.The business had revenue of $697.20 million for the quarter, compared to the consensus estimate of $713.32 million. During the same quarter in the prior year, the business posted $2.34 EPS. 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 and its FY 2025 guidance at 6.590-6.670 EPS. On average, analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $4.16 dividend on an annualized basis and a yield of 3.4%. Sun Communities’s dividend payout ratio (DPR) is presently 52.13%.

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.