Oppenheimer Asset Management Inc. Has $6.66 Million Stake in Sun Communities, Inc. $SUI

Oppenheimer Asset Management Inc. decreased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,673 shares of the real estate investment trust’s stock after selling 101 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sun Communities were worth $6,663,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Twin Tree Management LP acquired a new position in shares of Sun Communities during the 1st quarter worth about $29,000. Ransom Advisory Ltd acquired a new position in Sun Communities during the 1st quarter valued at $31,000. GKV Capital Management Co. Inc. acquired a new position in Sun Communities during the 1st quarter valued at $42,000. V Square Quantitative Management LLC acquired a new position in Sun Communities during the 2nd quarter valued at $47,000. Finally, Avalon Trust Co acquired a new position in Sun Communities during the 1st quarter valued at $65,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on SUI shares. Royal Bank Of Canada reduced their price objective 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. Truist Financial increased their target price on shares of Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wells Fargo & Company lowered their target price on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Morgan Stanley set a $142.00 target price on Sun Communities in a research note on Thursday, September 4th. Finally, Jefferies Financial Group upgraded shares of Sun Communities to a “strong-buy” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sun Communities currently has an average rating of “Hold” and an average target price of $137.86.

Sun Communities Trading Up 0.3%

Sun Communities stock opened at $124.43 on Tuesday. The firm has a 50-day moving average of $126.79 and a 200-day moving average of $125.26. Sun Communities, Inc. has a one year low of $109.22 and a one year 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. The company has a market cap of $15.57 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 6.37 and a beta of 0.86.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The company had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. During the same period 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. On average, equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s dividend payout ratio is presently 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.