Sun Communities (SUI)

• Market cap: $16B
• 1 day: 1.75%
• 5 days: 4.14%
• 1 month: 2.51%
• 3 months: -8.50%
• 6 months: -2.19%
• Year to date: 2.84%
• 1 year: -3.86%
• 5 years: -18.75%
• 10 years: 90.35%
• 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

27% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 55

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 9% downside
• Avg. target: $134 6% upside
• High target: $150 19% upside

9 analyst ratings

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

Jefferies Peter Abramowitz 38% 1-year accuracy 5 / 13 met price target	13% upside $142	Buy Maintained	2 Jan 2025
Wells Fargo James Feldman 56% 1-year accuracy 10 / 18 met price target	7% upside $135	Equal-Weight Maintained	11 Dec 2024
Truist Securities Anthony Hau 22% 1-year accuracy 6 / 27 met price target	4% upside $131	Hold Maintained	11 Dec 2024
UBS Michael Goldsmith 40% 1-year accuracy 6 / 15 met price target	6% upside $134	Neutral Downgraded	14 Nov 2024
B of A Securities Joshua Dennerlein 50% 1-year accuracy 6 / 12 met price target	9% downside $114	Underperform Downgraded	12 Nov 2024