Key Points
- Sun Communities director Gary Shiffman sold 25,031 shares on June 24 at an average price of $119.96, totaling about $3.0 million. After the sale, he still owned 857,761 shares.
- The stock was down 1.2% and opened Friday at $118.46, near the low end of its 52-week range of $115.53 to $137.85. The company’s market cap is about $14.6 billion.
- Sun Communities recently reported mixed results and maintained dividend support: it missed quarterly EPS expectations but beat revenue estimates, and it declared a quarterly dividend of $1.12 per share, or $4.48 annualized, yielding about 3.8%.
Sun Communities, Inc. (NYSE:SUI - Get Free Report) Director Gary Shiffman sold 25,031 shares of Sun Communities stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director directly owned 857,761 shares of the company's stock, valued at approximately $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Sun Communities Trading Down 1.2%
NYSE:SUI opened at $118.46 on Friday. The firm has a market capitalization of $14.60 billion, a P/E ratio of 10.76, a PEG ratio of 3.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.39 and a quick ratio of 3.39. Sun Communities, Inc. has a one year low of $115.53 and a one year high of $137.85. The company's 50-day simple moving average is $124.62 and its 200 day simple moving average is $126.85.
Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The business had revenue of $500.50 million for the quarter, compared to the consensus estimate of $472.40 million. During the same period in the prior year, the business posted $1.26 EPS. Sun Communities's revenue for the quarter was up 8.0% on a year-over-year basis. 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, analysts forecast that Sun Communities, Inc. will post 6.94 EPS for the current fiscal year.
Sun Communities Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.12 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. Sun Communities's dividend payout ratio is presently 40.69%.
Institutional Investors Weigh In On Sun Communities
Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Sun Communities in the 4th quarter valued at approximately $753,364,000. Wellington Management Group LLP boosted its stake in Sun Communities by 1,224.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust's stock valued at $578,668,000 after purchasing an additional 4,147,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sun Communities by 37,933.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust's stock worth $182,663,000 after purchasing an additional 1,470,286 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Sun Communities by 20,348.9% in the 4th quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust's stock worth $61,749,000 after purchasing an additional 495,902 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Sun Communities by 152.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 767,190 shares of the real estate investment trust's stock worth $95,063,000 after purchasing an additional 463,312 shares during the last quarter. Institutional investors own 99.59% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Sun Communities from $136.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, March 6th. Wells Fargo & Company cut their target price on Sun Communities from $150.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Colliers Securities upgraded Sun Communities from a "neutral" rating to a "buy" rating and set a $150.00 price target for the company in a report on Friday, May 22nd. Zelman & Associates assumed coverage on Sun Communities in a research report on Monday, March 16th. They issued an "outperform" rating and a $127.75 price target for the company. Finally, Weiss Ratings cut shares of Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Sun Communities currently has an average rating of "Moderate Buy" and an average price target of $141.12.
View Our Latest Report on SUI
Sun Communities Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
