Sun Communities, Inc. $SUI Position Boosted by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,262 shares of the real estate investment trust’s stock after acquiring an additional 3,195 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned approximately 0.09% of Sun Communities worth $14,326,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Sun Communities by 23.8% during the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 201 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sun Communities by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,162 shares of the real estate investment trust’s stock valued at $1,693,000 after buying an additional 184 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Sun Communities by 510.4% during the 1st quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 490 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Sun Communities during the 1st quarter valued at about $1,107,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Sun Communities during the 1st quarter valued at about $471,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the company a “hold” rating in a report on Wednesday, June 25th. Truist Financial lifted their price target on Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Robert W. Baird lifted their price target on Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $137.86.

Sun Communities Stock Up 0.5%

SUI opened at $124.37 on Tuesday. The business has a 50 day moving average price of $127.03 and a 200 day moving average price of $125.05. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $140.49. 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 firm has a market cap of $15.56 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 6.36 and a beta of 0.86.

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

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. Sun Communities’s payout ratio 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.