Daiwa Securities Group Inc. Lowers Stake in Sun Communities, Inc. $SUI

Key Points

• Daiwa Securities Group cut its stake in Sun Communities by 16.3% in the fourth quarter, selling 293,969 shares and leaving it with 1.51 million shares valued at about $187.2 million.
• Institutional ownership remains heavy, with other large investors making major moves and hedge funds and institutions holding 99.59% of the stock overall.
• Analysts remain cautiously bullish on SUI, with 10 Buy ratings and 5 Hold ratings, a consensus “Moderate Buy,” and an average price target of $141.27 versus a recent price near $122.91.

Daiwa Securities Group Inc. reduced its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,511,146 shares of the real estate investment trust's stock after selling 293,969 shares during the period. Sun Communities accounts for about 0.6% of Daiwa Securities Group Inc.'s investment portfolio, making the stock its 29th largest holding. Daiwa Securities Group Inc. owned about 1.22% of Sun Communities worth $187,246,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Sun Communities in the fourth quarter worth approximately $753,364,000. Wellington Management Group LLP lifted its stake in shares of Sun Communities by 1,224.1% in the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust's stock worth $578,668,000 after buying an additional 4,147,015 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Sun Communities by 20,348.9% in the fourth quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust's stock worth $61,749,000 after buying an additional 495,902 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Sun Communities by 124.4% during the third quarter. Millennium Management LLC now owns 685,324 shares of the real estate investment trust's stock valued at $88,407,000 after purchasing an additional 379,877 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Sun Communities during the third quarter valued at approximately $42,260,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sun Communities news, EVP Fernando Castro-Caratini sold 23,750 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction 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. This represents a 70.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SUI shares. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a report on Thursday, May 14th. Wells Fargo & Company decreased their price objective on shares of Sun Communities from $150.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Barclays decreased their price objective on shares of Sun Communities from $148.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on shares of Sun Communities from $148.00 to $151.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Truist Financial decreased their price objective on shares of Sun Communities from $147.00 to $141.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.27.

Sun Communities Stock Up 2.0%

Shares of SUI stock opened at $122.91 on Friday. Sun Communities, Inc. has a 12 month low of $115.53 and a 12 month high of $137.85. The stock has a market cap of $15.15 billion, a P/E ratio of 11.16, a P/E/G ratio of 3.96 and a beta of 0.79. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.60. The company has a 50 day simple moving average of $126.35 and a two-hundred day simple moving average of $127.40.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The business had revenue of $500.50 million for the quarter, compared to analysts' expectations of $472.40 million. During the same period in the prior year, the company posted $1.26 earnings per share. The firm'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, research analysts expect that Sun Communities, Inc. will post 6.94 earnings per share for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Sun Communities's dividend payout ratio is currently 40.69%.

About Sun Communities

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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