Sun Communities, Inc. (NYSE:SUI) Sees Large Decrease in Short Interest

Sun Communities, Inc. (NYSE:SUI) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 1,600,000 shares, a drop of 28.6% from the September 30th total of 2,240,000 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average trading volume of 922,700 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 922,700 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.3% of the shares of the stock are short sold.

Sun Communities Stock Down 1.8%

Shares of NYSE:SUI traded down $2.25 during midday trading on Monday, hitting $124.35. 1,347,964 shares of the stock were exchanged, compared to its average volume of 872,943. The company has a market capitalization of $15.56 billion, a PE ratio of 15.58, a P/E/G ratio of 4.05 and a beta of 0.86. Sun Communities has a 52-week low of $109.22 and a 52-week high of $137.77. 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 business’s fifty day simple moving average is $126.44 and its two-hundred day simple moving average is $125.34.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.10. The company had revenue of $697.20 million for the quarter, compared to analyst estimates of $713.32 million. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 EPS. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. As a group, research analysts predict that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s payout ratio is currently 52.13%.

Wall Street Analysts Forecast Growth

SUI has been the topic of several analyst reports. Morgan Stanley set a $142.00 target price on shares of Sun Communities in a research report on Thursday, September 4th. Wells Fargo & Company lowered their price objective on shares of Sun Communities from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. Evercore ISI lifted their price target on Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Finally, Wall Street Zen lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday. Six 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 has a consensus rating of “Hold” and an average target price of $137.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Twin Tree Management LP acquired a new stake in shares of Sun Communities in the 1st quarter valued at $29,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Sun Communities in the second quarter worth about $30,000. Ransom Advisory Ltd bought a new stake in shares of Sun Communities during the 1st quarter worth about $31,000. MAI Capital Management increased its holdings in shares of Sun Communities by 164.4% during the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 166 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Sun Communities in the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Company 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.