Levin Capital Strategies L.P. Acquires Shares of 5,500 Sun Communities, Inc. $SUI

Levin Capital Strategies L.P. acquired a new stake in Sun Communities, Inc. (NYSE:SUI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,500 shares of the real estate investment trust’s stock, valued at approximately $696,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. Twin Tree Management LP acquired a new position in Sun Communities in the 1st quarter valued at about $29,000. Ransom Advisory Ltd acquired a new position in Sun Communities in the 1st quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new position in Sun Communities in the 1st quarter valued at about $42,000. V Square Quantitative Management LLC acquired a new position in Sun Communities in the 2nd quarter valued at about $47,000. Finally, Avalon Trust Co acquired a new position in Sun Communities in the 1st quarter valued at about $65,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Trading Down 1.8%

Shares of NYSE:SUI opened at $124.35 on Tuesday. The company has a market capitalization of $15.56 billion, a P/E ratio of 15.58, a P/E/G ratio of 4.05 and a beta of 0.86. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $137.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The business’s 50 day simple moving average is $126.44 and its 200 day simple moving average is $125.34.

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

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s dividend payout ratio is 52.13%.

Analysts Set New Price Targets

A number of brokerages recently commented on SUI. Robert W. Baird upped their price target on shares of Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Jefferies Financial Group set a $142.00 price target on shares of Sun Communities and gave the company a “buy” rating in a research note on Monday. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a research note on Thursday, September 4th. Evercore ISI upped their price target 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. Finally, Royal Bank Of Canada decreased their price target on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $137.29.

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.