State of New Jersey Common Pension Fund D Has $21.12 Million Stock Holdings in Sun Communities, Inc. $SUI

State of New Jersey Common Pension Fund D decreased its position in Sun Communities, Inc. (NYSE:SUI) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,979 shares of the real estate investment trust’s stock after selling 888 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Sun Communities were worth $21,121,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Dodge & Cox raised its holdings in Sun Communities by 42.1% in the 1st quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock worth $1,755,656,000 after acquiring an additional 4,041,802 shares during the period. Nuveen LLC bought a new stake in Sun Communities during the first quarter valued at about $112,395,000. Deutsche Bank AG increased its stake in shares of 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 period. Price T Rowe Associates Inc. MD lifted its position in shares of Sun Communities by 10.2% during the 1st 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 bought a new stake in Sun Communities during the 1st quarter valued at approximately $67,256,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Stock Up 0.6%

SUI opened at $124.03 on Friday. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $138.73. 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 firm’s fifty day moving average price is $126.81 and its two-hundred day moving average price is $125.22. The company has a market capitalization of $15.52 billion, a P/E ratio of 12.14, a P/E/G ratio of 6.38 and a beta of 0.86.

Sun Communities (NYSE:SUI) last announced 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. The company had revenue of $623.50 million during the quarter, compared to analysts’ expectations of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same quarter in the prior 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, analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 yield of 3.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s payout ratio is presently 40.70%.

Wall Street Analyst Weigh In

Several brokerages have commented on SUI. Wall Street Zen raised Sun Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Royal Bank Of Canada dropped their target price on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research report on Friday, August 1st. Evercore ISI upped their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a research report on Friday. Finally, Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sun Communities currently has an average rating of “Hold” and an average price target of $137.86.

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.