Axa S.A. Raises Holdings in Sun Communities, Inc. (NYSE:SUI)

AXA S.A. increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,553 shares of the real estate investment trust's stock after acquiring an additional 22,299 shares during the quarter. AXA S.A. owned about 0.16% of Sun Communities worth $24,539,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legacy Trust acquired a new position in shares of Sun Communities during the 4th quarter valued at about $625,000. Aurora Investment Managers LLC. grew its stake in shares of Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock valued at $3,380,000 after buying an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock worth $95,885,000 after buying an additional 108,054 shares during the last quarter. VCI Wealth Management LLC purchased a new position in Sun Communities in the fourth quarter worth approximately $1,312,000. Finally, Vert Asset Management LLC lifted its stake in shares of Sun Communities by 9.9% in the 4th quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust's stock valued at $6,897,000 after purchasing an additional 5,060 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analyst Ratings Changes

SUI has been the subject of several research reports. Robert W. Baird dropped their target price on Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Thursday. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 target price (down from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. 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. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price objective for the company. Finally, Truist Financial cut their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $136.90.

Sun Communities Price Performance

Shares of Sun Communities stock traded up $1.97 during trading on Friday, reaching $125.53. The company's stock had a trading volume of 385,617 shares, compared to its average volume of 818,490. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $126.23 and a 200-day moving average price of $126.51. The company has a market capitalization of $16.02 billion, a P/E ratio of 67.49 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data 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. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. During the same period in the previous year, the firm earned $1.19 EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Monday, March 31st. Sun Communities's payout ratio is 606.45%.

Sun Communities Company 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.