ASR Vermogensbeheer N.V. Makes New $365,000 Investment in Sun Communities, Inc. (NYSE:SUI)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Sun Communities, Inc., purchasing 2,841 shares valued at approximately $365,000, highlighting increased institutional interest in the real estate investment trust.
• Several institutional investors have also increased their holdings in Sun Communities, leading to a strong institutional ownership of about 99.59% of the company's stock.
• Sun Communities recently declared a quarterly dividend of $1.04, marking an increase from the previous dividend of $0.94, with an annual yield of 3.3%.

ASR Vermogensbeheer N.V. bought a new position in Sun Communities, Inc. (NYSE:SUI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,841 shares of the real estate investment trust's stock, valued at approximately $365,000.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Sun Communities during the 1st quarter valued at approximately $29,000. Parallel Advisors LLC grew its holdings in shares of Sun Communities by 66.4% during the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after buying an additional 190 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Sun Communities in the first quarter valued at about $65,000. Blue Trust Inc. raised its position in shares of Sun Communities by 510.4% in the first quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 490 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Sun Communities in the fourth quarter valued at about $90,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Trading Up 0.5%

Shares of SUI stock traded up $0.68 during trading hours on Tuesday, hitting $125.90. 828,842 shares of the company were exchanged, compared to its average volume of 1,261,965. The firm has a market cap of $15.76 billion, a PE ratio of 12.32, a PEG ratio of 6.46 and a beta of 0.83. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. 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 firm has a fifty day moving average of $125.28 and a 200 day moving average of $125.75.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the prior year, the firm posted $1.86 EPS. Analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.3%. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, June 30th. Sun Communities's dividend payout ratio is 40.70%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SUI shares. Royal Bank Of Canada dropped their price objective on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Morgan Stanley started coverage on shares of Sun Communities in a research report on Tuesday, July 15th. They set an "equal weight" rating and a $135.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a report on Tuesday, May 20th. Colliers Securities initiated coverage on shares of Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 price objective on the stock. Finally, Wall Street Zen raised shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Sun Communities presently has an average rating of "Hold" and an average target price of $138.43.

Insider Transactions at Sun Communities

In related news, Director Jeff Blau purchased 3,665 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $117.99 per share, with a total value of $432,433.35. Following the completion of the transaction, the director owned 3,665 shares of the company's stock, valued at $432,433.35. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.89% of the stock is owned by company insiders.

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.