Bank of New York Mellon Corp Has $85.75 Million Stock Position in Sun Communities, Inc. $SUI

Key Points

• Bank of New York Mellon increased its Sun Communities stake by 29.1% in the fourth quarter, ending with 692,017 shares worth about $85.75 million.
• Sun Communities reported a Q1 earnings miss, posting EPS of -$0.07 versus the $1.31 consensus, even though revenue came in above estimates at $500.5 million and rose 8% year over year.
• The REIT announced a quarterly dividend of $1.12 per share, equal to a $4.48 annualized payout and a 3.7% yield; analysts still rate the stock a Moderate Buy with an average price target of $141.13.

Bank of New York Mellon Corp raised its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 29.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 692,017 shares of the real estate investment trust's stock after buying an additional 155,921 shares during the period. Bank of New York Mellon Corp owned 0.56% of Sun Communities worth $85,748,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SUI. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Sun Communities by 1,226.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 184 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Sun Communities during the third quarter worth $27,000. Fulcrum Asset Management LLP acquired a new position in shares of Sun Communities during the third quarter worth $27,000. Global X Japan Co. Ltd. acquired a new position in shares of Sun Communities during the fourth quarter worth $33,000. Finally, Assetmark Inc. lifted its holdings in shares of Sun Communities by 55.7% during the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Insiders Place Their Bets

In other Sun Communities news, EVP Fernando Castro-Caratini sold 23,750 shares of Sun Communities stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total value of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares of the company's stock, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.58% of the company's stock.

Sun Communities Price Performance

SUI stock opened at $122.18 on Tuesday. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 4.06 and a beta of 0.80. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60. Sun Communities, Inc. has a 12-month low of $115.53 and a 12-month high of $137.85. The company's fifty day simple moving average is $126.15 and its 200 day simple moving average is $127.37.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The firm had revenue of $500.50 million during the quarter, compared to analyst estimates of $472.40 million. During the same quarter in the previous year, the firm earned $1.26 EPS. Sun Communities's quarterly revenue was up 8.0% on a year-over-year basis. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. On average, analysts expect that Sun Communities, Inc. will post 6.94 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Sun Communities's payout ratio is 40.69%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SUI shares. Royal Bank Of Canada cut their price target on shares of Sun Communities from $151.00 to $149.00 and set an "outperform" rating on the stock in a report on Friday. Evercore reiterated an "outperform" rating and set a $144.00 price target on shares of Sun Communities in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Sun Communities in a report on Thursday, May 14th. Robert W. Baird lifted their price target on shares of Sun Communities from $136.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, March 6th. Finally, Weiss Ratings lowered shares of Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sun Communities presently has an average rating of "Moderate Buy" and an average price target of $141.13.

Sun Communities Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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