V Square Quantitative Management LLC Buys New Position in Sun Communities, Inc. $SUI

V Square Quantitative Management LLC bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 374 shares of the real estate investment trust’s stock, valued at approximately $47,000.

Several other hedge funds also recently modified their holdings of SUI. Dodge & Cox boosted its position in shares of Sun Communities by 42.1% during the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock valued at $1,755,656,000 after buying an additional 4,041,802 shares during the last quarter. Nuveen LLC purchased a new position in Sun Communities in the first quarter worth $112,395,000. Deutsche Bank AG boosted its position in Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock worth $207,294,000 after purchasing an additional 820,422 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Sun Communities by 10.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after purchasing an additional 568,514 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Sun Communities in the first quarter worth $67,256,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $128.60 on Friday. The firm has a market cap of $16.09 billion, a PE ratio of 12.58, a PEG ratio of 6.63 and a beta of 0.86. The stock’s fifty day moving average price is $126.62 and its two-hundred day moving average price is $125.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $140.49.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same period in the previous year, the company 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 research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, September 30th. Sun Communities’s payout ratio is presently 40.70%.

Wall Street Analyst Weigh In

SUI has been the topic of several research analyst reports. Truist Financial boosted their price objective on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Robert W. Baird boosted their price objective on Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Royal Bank Of Canada cut their price objective on Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research report on Friday, August 1st. Morgan Stanley set a $142.00 price objective on Sun Communities in a research report on Thursday, September 4th. Finally, Evercore ISI boosted their price objective on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sun Communities has an average rating of “Hold” and a consensus price target of $137.86.

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.