Sun Communities, Inc. $SUI Stock Holdings Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Sun Communities, Inc. (NYSE:SUI) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,979 shares of the real estate investment trust’s stock after selling 888 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.13% of Sun Communities worth $21,121,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in shares of Sun Communities in the first quarter valued at $29,000. Ransom Advisory Ltd acquired a new position in Sun Communities during the first quarter valued at $31,000. GKV Capital Management Co. Inc. purchased a new stake in Sun Communities in the 1st quarter worth about $42,000. V Square Quantitative Management LLC purchased a new stake in Sun Communities in the 2nd quarter worth about $47,000. Finally, Avalon Trust Co acquired a new stake in Sun Communities during the 1st quarter worth about $65,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SUI. Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Jefferies Financial Group raised shares of Sun Communities to a “strong-buy” rating in a research report on Monday, October 20th. Truist Financial upped their price objective on shares of Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Evercore ISI increased their target price on shares of Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Finally, Morgan Stanley set a $142.00 price target on shares of Sun Communities in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $137.86.

Sun Communities Price Performance

Shares of SUI opened at $124.03 on Friday. The firm has a market cap of $15.52 billion, a PE ratio of 12.14, a PEG ratio of 6.38 and a beta of 0.86. The firm’s 50 day moving average price is $126.81 and its 200 day moving average price is $125.22. 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 twelve month low of $109.22 and a twelve month high of $138.73.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. The company 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 posted $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 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is 40.70%.

Sun Communities 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.