Mitsubishi UFJ Asset Management Co. Ltd. Has $24.08 Million Stock Holdings in Sun Communities, Inc. $SUI

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Sun Communities, Inc. (NYSE:SUI) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 190,355 shares of the real estate investment trust’s stock after purchasing an additional 2,411 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.15% of Sun Communities worth $24,078,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in Sun Communities by 8.0% in the second quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 84 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Sun Communities by 0.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust’s stock worth $3,487,000 after buying an additional 100 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Sun Communities by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust’s stock valued at $322,000 after acquiring an additional 102 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Sun Communities by 3.4% in the 1st quarter. HB Wealth Management LLC now owns 5,361 shares of the real estate investment trust’s stock worth $690,000 after acquiring an additional 178 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in Sun Communities during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Sun Communities stock opened at $127.98 on Wednesday. The business’s 50-day simple moving average is $126.42 and its 200 day simple moving average is $125.50. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 4.05 and a beta of 0.86. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $137.77.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. The company had revenue of $697.20 million for the quarter, compared to the consensus estimate of $713.32 million. Sun Communities had a net margin of 42.58% and a negative return on equity of 4.51%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. As a group, research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The firm also recently announced 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 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s payout ratio is currently 52.13%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Morgan Stanley set a $142.00 price objective on Sun Communities in a research report on Thursday, September 4th. Wells Fargo & Company lifted their price target on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada upped their price target on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sun Communities currently has an average rating of “Hold” and an average target price of $137.31.

About Sun Communities

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.