Sun Communities, Inc. (NYSE:SUI) Stock Holdings Lifted by CKW Financial Group

CKW Financial Group lifted its position in Sun Communities, Inc. (NYSE:SUI) by 45.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 435 shares of the real estate investment trust’s stock after acquiring an additional 135 shares during the quarter. CKW Financial Group’s holdings in Sun Communities were worth $53,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Sun Communities in the third quarter worth approximately $41,000. Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities during the third quarter worth approximately $60,000. Farther Finance Advisors LLC grew its position in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SUI. Jefferies Financial Group decreased their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Royal Bank of Canada reduced their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Evercore ISI increased their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, BMO Capital Markets reduced their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $134.08.

Sun Communities Price Performance

NYSE SUI opened at $127.39 on Monday. The company has a market cap of $16.23 billion, a P/E ratio of 68.49, a P/E/G ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $124.52 and a 200 day simple moving average of $129.56.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period in the prior year, the business posted $2.57 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.94 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.95%. Sun Communities’s dividend payout ratio is 202.15%.

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.