Key Points
- Sun Communities EVP Fernando Castro-Caratini sold 23,750 shares on May 26 at an average price of $124.43, totaling about $2.96 million and cutting his ownership by 70.37%.
- The REIT recently raised its quarterly dividend to $1.12 per share from $1.04, implying a 3.6% annualized yield and a 40.69% payout ratio.
- Sun Communities missed earnings estimates in its latest quarter, posting -$0.07 EPS versus the expected $1.31, though revenue came in above forecasts at $500.5 million.
Sun Communities, Inc. (NYSE:SUI - Get Free Report) EVP Fernando Castro-Caratini sold 23,750 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the sale, the executive vice president owned 9,998 shares in the company, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Sun Communities Trading Up 0.0%
Shares of NYSE:SUI opened at $124.89 on Thursday. Sun Communities, Inc. has a 12 month low of $115.53 and a 12 month high of $137.85. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60. The company's fifty day simple moving average is $127.40 and its 200 day simple moving average is $127.59. The firm has a market cap of $15.39 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 4.11 and a beta of 0.82.
Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). The firm had revenue of $500.50 million for the quarter, compared to the consensus estimate of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. As a group, research analysts forecast that Sun Communities, Inc. will post 6.92 EPS for the current fiscal year.
Sun Communities Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $1.12 per share. The ex-dividend date was Tuesday, March 31st. This is a boost from Sun Communities's previous quarterly dividend of $1.04. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. Sun Communities's dividend payout ratio is 40.69%.
Wall Street Analyst Weigh In
Several research analysts recently commented on SUI shares. Royal Bank Of Canada increased their target price on shares of Sun Communities from $148.00 to $151.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Barclays reduced their target price on shares of Sun Communities from $148.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Sun Communities in a report on Thursday, May 14th. Evercore restated an "outperform" rating and set a $144.00 target price on shares of Sun Communities in a report on Wednesday, April 29th. Finally, Colliers Securities upgraded shares of Sun Communities from a "neutral" rating to a "buy" rating and set a $150.00 target price for the company in a report on Friday, May 22nd. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Sun Communities presently has an average rating of "Moderate Buy" and an average target price of $141.84.
Read Our Latest Report on Sun Communities
Institutional Trading of Sun Communities
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Sun Communities by 1,226.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust's stock worth $25,000 after buying an additional 184 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Sun Communities during the third quarter worth $27,000. Fulcrum Asset Management LLP acquired a new position in Sun Communities during the third quarter worth $27,000. Global X Japan Co. Ltd. acquired a new position in Sun Communities during the fourth quarter worth $33,000. Finally, Assetmark Inc. increased its holdings in Sun Communities by 55.7% during the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust's stock worth $35,000 after buying an additional 97 shares during the last quarter. Institutional investors own 99.59% of the company's stock.
About Sun Communities
(
Get Free Report)
Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.
Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.
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