Sun Communities, Inc. $SUI Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 838,056 shares of the real estate investment trust’s stock after selling 131,556 shares during the period. JPMorgan Chase & Co. owned about 0.67% of Sun Communities worth $106,006,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. DNB Asset Management AS lifted its stake in Sun Communities by 2.3% during the second quarter. DNB Asset Management AS now owns 22,670 shares of the real estate investment trust’s stock valued at $2,868,000 after buying an additional 503 shares in the last quarter. Swiss National Bank lifted its position in shares of Sun Communities by 7.5% in the 2nd quarter. Swiss National Bank now owns 386,260 shares of the real estate investment trust’s stock valued at $48,858,000 after acquiring an additional 27,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sun Communities by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 18,040,455 shares of the real estate investment trust’s stock worth $2,281,937,000 after purchasing an additional 93,170 shares during the period. Capital Square LLC grew its position in Sun Communities by 2.0% during the 2nd quarter. Capital Square LLC now owns 13,456 shares of the real estate investment trust’s stock worth $1,690,000 after purchasing an additional 260 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Sun Communities by 2.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 208,759 shares of the real estate investment trust’s stock valued at $26,406,000 after purchasing an additional 5,700 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 0.1%

Shares of Sun Communities stock opened at $128.68 on Friday. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 4.05 and a beta of 0.86. The stock has a 50-day simple moving average of $125.96 and a 200-day simple moving average of $125.58. 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 current ratio of 7.08 and a quick ratio of 7.08.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.10. The firm had revenue of $697.20 million for the quarter, compared to analyst estimates of $713.32 million. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.51%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. On average, equities research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $1.04 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. Sun Communities’s dividend payout ratio is currently 52.13%.

Wall Street Analysts Forecast Growth

SUI has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Barclays lifted their target price on Sun Communities from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley reduced their price target on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday. Royal Bank Of Canada raised their price target on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Robert W. Baird upped their price objective on shares of Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $137.42.

Insider Buying and Selling

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $126.24, for a total transaction of $504,960.00. Following the transaction, the director directly owned 26,000 shares in the company, valued at $3,282,240. This trade represents a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.77% of the stock is owned by insiders.

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.