DNB Asset Management AS Increases Stock Position in Sun Communities, Inc. $SUI

Key Points

• DNB Asset Management AS increased its stake in Sun Communities by 218% in the fourth quarter, ending with 77,034 shares valued at about $9.5 million.
• Institutional interest in SUI remains high, with several major firms also boosting holdings and 99.59% of the stock now owned by hedge funds and other institutional investors.
• Sun Communities recently raised its quarterly dividend to $1.12 per share, but its latest earnings report missed EPS estimates even as revenue came in above expectations.

DNB Asset Management AS grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 218.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 77,034 shares of the real estate investment trust's stock after purchasing an additional 52,812 shares during the period. DNB Asset Management AS owned approximately 0.06% of Sun Communities worth $9,545,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SUI. AQR Capital Management LLC lifted its holdings in shares of Sun Communities by 17.8% during the first quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust's stock valued at $1,554,000 after purchasing an additional 1,827 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Sun Communities by 21.1% during the first quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust's stock valued at $25,128,000 after purchasing an additional 33,981 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Sun Communities by 32.5% during the first quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust's stock valued at $434,000 after purchasing an additional 829 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Sun Communities during the first quarter valued at approximately $362,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sun Communities by 26.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 673 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 141 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SUI. Royal Bank Of Canada lifted their price target on Sun Communities from $148.00 to $151.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Robert W. Baird lifted their price target on Sun Communities from $136.00 to $140.00 and gave the stock a "neutral" rating in a research report on Friday, March 6th. Zelman & Associates began coverage on Sun Communities in a research report on Monday, March 16th. They issued an "outperform" rating and a $127.75 price target for the company. Evercore reaffirmed an "outperform" rating and issued a $144.00 price target on shares of Sun Communities in a research report on Wednesday, April 29th. Finally, Truist Financial lowered their price target on Sun Communities from $147.00 to $141.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.45.

Sun Communities Price Performance

Shares of NYSE SUI opened at $120.34 on Monday. Sun Communities, Inc. has a twelve month low of $115.53 and a twelve month high of $137.85. The firm has a market cap of $14.83 billion, a P/E ratio of 10.93, a PEG ratio of 3.18 and a beta of 0.82. The company has a 50 day moving average of $129.17 and a 200 day moving average of $127.53. 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 (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The firm had revenue of $500.50 million during the quarter, compared to analysts' expectations of $472.40 million. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Sun Communities's 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. As a group, research analysts expect that Sun Communities, Inc. will post 6.95 EPS for the current fiscal year.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $1.12 dividend. This is a positive change from Sun Communities's previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Sun Communities's payout ratio is presently 40.69%.

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 3,800 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $136.01, for a total value of $516,838.00. Following the completion of the transaction, the director owned 16,817 shares of the company's stock, valued at approximately $2,287,280.17. The trade was a 18.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.58% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.