Sun Communities, Inc. $SUI Shares Acquired by Whittier Trust Co.

Whittier Trust Co. boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 6.5% in the 2nd quarter, Holdings Channel reports. The firm owned 261,251 shares of the real estate investment trust’s stock after buying an additional 15,935 shares during the period. Whittier Trust Co.’s holdings in Sun Communities were worth $33,045,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in Sun Communities during the first quarter valued at approximately $29,000. Ransom Advisory Ltd acquired a new stake in Sun Communities during the first quarter valued at approximately $31,000. GKV Capital Management Co. Inc. acquired a new stake in Sun Communities during the first quarter valued at approximately $42,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities during the second quarter valued at approximately $47,000. Finally, Avalon Trust Co acquired a new stake in Sun Communities during the first quarter valued at approximately $65,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Truist Financial upped their price target on shares of Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Royal Bank Of Canada reduced their price target on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating for the company in a research report on Friday, August 1st. Finally, Robert W. Baird upped their price target on shares of Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sun Communities has an average rating of “Hold” and an average target price of $137.86.

Sun Communities Stock Up 0.5%

Shares of NYSE:SUI opened at $124.37 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The company has a market cap of $15.56 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 6.36 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 firm has a 50 day simple moving average of $127.03 and a 200 day simple moving average of $125.05.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. The firm had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same quarter in the prior year, the business earned $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. As a group, research analysts expect 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. Shareholders of record on Tuesday, September 30th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, September 30th. Sun Communities’s dividend payout ratio 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.