Sun Communities, Inc. (NYSE:SUI) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 227,479 shares of the real estate investment trust’s stock after buying an additional 4,017 shares during the period. Asset Management One Co. Ltd.’s holdings in Sun Communities were worth $29,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 124 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Sun Communities by 4.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 18,451 shares of the real estate investment trust’s stock worth $2,269,000 after purchasing an additional 772 shares during the period. LPL Financial LLC lifted its stake in shares of Sun Communities by 22.3% during the 4th quarter. LPL Financial LLC now owns 25,560 shares of the real estate investment trust’s stock worth $3,143,000 after purchasing an additional 4,665 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Sun Communities in the 4th quarter worth $716,000. Finally, Yousif Capital Management LLC raised its position in shares of Sun Communities by 4.2% in the 1st quarter. Yousif Capital Management LLC now owns 6,575 shares of the real estate investment trust’s stock worth $846,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

SUI opened at $128.30 on Wednesday. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The stock has a market cap of $16.38 billion, a PE ratio of 206.93, a price-to-earnings-growth ratio of 8.71 and a beta of 0.86. The business’s 50 day moving average is $123.98 and its 200-day moving average is $125.33. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01.

Sun Communities (NYSE:SUI) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, topping the consensus estimate of $1.18 by $0.08. The firm had revenue of $470.20 million for the quarter, compared to analysts’ expectations of $538.63 million. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 earnings per share. On average, analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $1.04 dividend. This is a positive change from Sun Communities’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, June 30th. This represents a $4.16 annualized dividend and a yield of 3.24%. Sun Communities’s payout ratio is 606.45%.

Insiders Place Their Bets

In other news, Director Jeff Blau acquired 3,665 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the transaction, the director now owns 3,665 shares in the company, valued at approximately $432,433.35. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SUI. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Royal Bank Of Canada lowered their target price on Sun Communities from $154.00 to $147.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Barclays assumed coverage on Sun Communities in a research note on Thursday, May 29th. They issued an “overweight” rating and a $141.00 price target for the company. Wall Street Zen downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Colliers Securities started coverage on shares of Sun Communities in a report on Friday, June 13th. They issued a “neutral” rating and a $130.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus target price of $138.33.

Sun Communities 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.