Private Management Group Inc. Sells 2,304 Shares of Sun Communities, Inc. $SUI

Private Management Group Inc. decreased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 1.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 194,694 shares of the real estate investment trust’s stock after selling 2,304 shares during the period. Private Management Group Inc.’s holdings in Sun Communities were worth $24,627,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SUI. Versor Investments LP boosted its position in shares of Sun Communities by 92.5% during the 1st quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust’s stock valued at $842,000 after acquiring an additional 3,145 shares during the last quarter. Aew Capital Management L P increased its position in shares of Sun Communities by 7.2% in the second quarter. Aew Capital Management L P now owns 205,190 shares of the real estate investment trust’s stock worth $25,954,000 after purchasing an additional 13,730 shares during the last quarter. Deutsche Bank AG raised its stake in Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock valued at $207,294,000 after purchasing an additional 820,422 shares in the last quarter. American National Bank & Trust bought a new stake in Sun Communities during the second quarter valued at approximately $759,000. Finally, GAMMA Investing LLC lifted its position in Sun Communities by 8.0% during the second quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SUI shares. Royal Bank Of Canada boosted their price target on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Truist Financial upped their target price on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird increased their target price on Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley set a $142.00 price target on Sun Communities in a research report on Thursday, September 4th. Finally, 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 report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $137.83.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of Sun Communities stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $126.24, for a total value of $504,960.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.77% of the stock is currently owned by insiders.

Sun Communities Price Performance

SUI stock opened at $128.28 on Friday. The firm has a market cap of $15.86 billion, a P/E ratio of 16.08, a P/E/G ratio of 4.05 and a beta of 0.86. The firm’s fifty day moving average is $125.94 and its 200 day moving average is $125.46. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $137.77. 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 results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.10. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.51%. The business had revenue of $697.20 million during the quarter, compared to analyst estimates of $713.32 million. During the same period in the prior year, the business posted $2.34 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. Research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, September 30th. 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.