Sun Communities (SUI)

• Market cap: $15.9B
• 1 day: 0.86%
• 5 days: -0.22%
• 1 month: -6.39%
• 3 months: -4.11%
• 6 months: 5.72%
• Year to date: -7.64%
• 1 year: 3.22%
• 5 years: -21.50%
• 10 years: 121.48%
• 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 funds holding in top 10

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

6% more capital invested

Capital invested by funds: $14.6B [Q2] → $15.6B (+$933M) [Q3]

5% more first-time investments, than exits

New positions opened: 68 | Existing positions closed: 65

1% more funds holding

Funds holding: 498 [Q2] → 501 (+3) [Q3]

4.71% less ownership

Funds ownership: 97.63% [Q2] → 92.92% (-4.71%) [Q3]

11% less repeat investments, than reductions

Existing positions increased: 174 | Existing positions reduced: 196

Research analyst outlook

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

• Low target: $114 9% downside
• Avg. target: $141 13% upside
• High target: $160 28% upside

11 analyst ratings

• positive: 5 45%
• neutral: 5 45%
• negative: 1 9%

UBS Michael Goldsmith 43% 1-year accuracy 6 / 14 met price target	7% upside $134	Neutral Downgraded	14 Nov 2024
B of A Securities Joshua Dennerlein 54% 1-year accuracy 7 / 13 met price target	9% downside $114	Underperform Downgraded	12 Nov 2024
BMO Capital John Kim 65% 1-year accuracy 11 / 17 met price target	10% upside $138	Outperform Maintained	7 Nov 2024
RBC Capital Brad Heffern 74% 1-year accuracy 28 / 38 met price target	8% upside $135	Outperform Maintained	7 Nov 2024
Baird Wesley Golladay 78% 1-year accuracy 7 / 9 met price target	1% upside $126	Neutral Downgraded	7 Nov 2024