Commerzbank Aktiengesellschaft FI Raises Stock Holdings in Sun Communities, Inc. $SUI

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 47.3% in the second quarter, HoldingsChannel.com reports. The fund owned 8,378 shares of the real estate investment trust’s stock after acquiring an additional 2,689 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Sun Communities were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of SUI. Versor Investments LP increased its position in Sun Communities by 92.5% in the first quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust’s stock worth $842,000 after buying an additional 3,145 shares during the last quarter. GAMMA Investing LLC increased its position in Sun Communities by 23.8% in the first quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 201 shares during the last quarter. Bessemer Group Inc. increased its position in Sun Communities by 11.6% in the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 120 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Sun Communities by 9.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the real estate investment trust’s stock worth $520,000 after buying an additional 365 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Sun Communities in the first quarter worth $2,392,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Colliers Securities assumed coverage on Sun Communities in a research report on Friday, June 13th. They issued a “neutral” rating and a $130.00 target price for the company. Wells Fargo & Company reduced their price target on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Royal Bank Of Canada reduced their price target on Sun Communities from $147.00 to $143.00 and set an “outperform” rating for the company in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the company a “hold” rating in a research report on Wednesday, June 25th. Finally, Truist Financial lifted their price target on Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Six equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $137.86.

Sun Communities Price Performance

NYSE:SUI opened at $123.34 on Friday. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 6.33 and a beta of 0.86. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $140.49. The stock has a fifty day moving average of $127.28 and a 200 day moving average of $125.31. 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 (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.09. The company had revenue of $623.50 million during the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.During the same quarter last year, the company earned $1.86 earnings per share. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.4%. Sun Communities’s dividend payout ratio (DPR) is currently 40.70%.

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.