TD Asset Management Inc Reduces Stock Holdings in Sun Communities, Inc. $SUI

TD Asset Management Inc reduced its holdings in Sun Communities, Inc. (NYSE:SUI) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,026 shares of the real estate investment trust’s stock after selling 966 shares during the period. TD Asset Management Inc owned about 0.06% of Sun Communities worth $9,617,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Versor Investments LP boosted its holdings in shares of Sun Communities by 92.5% in 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. GAMMA Investing LLC boosted its holdings in shares of Sun Communities by 23.8% in the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 201 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Sun Communities by 11.6% in the 1st quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust’s stock valued at $149,000 after acquiring an additional 120 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Sun Communities by 9.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the real estate investment trust’s stock valued at $520,000 after acquiring an additional 365 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Sun Communities in the 1st quarter valued at $2,392,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

NYSE:SUI opened at $123.75 on Monday. 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 company has a fifty day moving average of $127.05 and a two-hundred day moving average of $125.05. The stock has a market capitalization of $15.49 billion, a PE ratio of 12.11, a P/E/G ratio of 6.36 and a beta of 0.86. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $140.49.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $623.50 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.86 earnings per share. 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 forecast 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. Shareholders of record on Tuesday, September 30th were given 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 yield of 3.4%. Sun Communities’s dividend payout ratio is currently 40.70%.

Analysts Set New Price Targets

SUI has been the topic of several recent research reports. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the company a “hold” rating in a research note on Wednesday, June 25th. Wells Fargo & Company decreased their target price on shares of 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 shares of Sun Communities in a research note on Thursday, September 4th. Finally, Evercore ISI boosted their target price on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $137.86.

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.