Sun Communities (SUI)

• Market cap: $15.5B
• 1 day: -1.39%
• 5 days: -0.82%
• 1 month: -3.98%
• 3 months: -9.77%
• 6 months: 2.68%
• Year to date: -10.02%
• 1 year: -10.02%
• 5 years: -18.00%
• 10 years: 97.70%
• Sector: Financials
• Industry: Real Estate Investment Trusts

About: Sun Communities is a residential REIT that focuses on owning manufactured housing, residential vehicle communities, and marinas. The company currently owns a portfolio of 666 properties, which includes 350 manufactured housing communities, 179 residential vehicle communities, and 137 marina properties. Sun targets owning properties that are desirable as second homes or vacation properties with nearly 50% of the portfolio located in either Florida or Michigan near major bodies of water.

Employees: 6,780

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

302% more call options, than puts

Call options by funds: $66.9M | Put options by funds: $16.7M

13% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 62

13% more funds holding in top 10

Funds holding in top 10: 8 [Q2] → 9 (+1) [Q3]

6% more capital invested

Capital invested by funds: $14.8B [Q2] → $15.7B (+$874M) [Q3]

2% more funds holding

Funds holding: 498 [Q2] → 506 (+8) [Q3]

5.2% less ownership

Funds ownership: 98.94% [Q2] → 93.74% (-5.2%) [Q3]

13% less repeat investments, than reductions

Existing positions increased: 174 | Existing positions reduced: 199

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $114 7% downside
• Avg. target: $136 11% upside
• High target: $160 31% upside

9 analyst ratings

• positive: 3 33%
• neutral: 5 56%
• negative: 1 11%

Wells Fargo James Feldman 67% 1-year accuracy 12 / 18 met price target	11% upside $135	Equal-Weight Maintained	11 Dec 2024
Truist Securities Anthony Hau 38% 1-year accuracy 12 / 32 met price target	7% upside $131	Hold Maintained	11 Dec 2024
UBS Michael Goldsmith 29% 1-year accuracy 4 / 14 met price target	10% upside $134	Neutral Downgraded	14 Nov 2024
B of A Securities Joshua Dennerlein 54% 1-year accuracy 7 / 13 met price target	7% downside $114	Underperform Downgraded	12 Nov 2024
BMO Capital John Kim 53% 1-year accuracy 9 / 17 met price target	13% upside $138	Outperform Maintained	7 Nov 2024