Sun Communities, Inc. $SUI Shares Purchased by First Hawaiian Bank

Key Points

• First Hawaiian Bank increased its stake in Sun Communities, Inc. by 25.3%, acquiring an additional 5,685 shares in the first quarter, bringing its total holdings to 28,125 shares valued at approximately $3.6 million.
• Analysts have provided mixed ratings for Sun Communities, with a consensus target price of $138.71 and a majority rating it as a "Hold" while others have set price objectives ranging from $130.00 to $142.00.
• The company recently declared a quarterly dividend of $1.04 per share, resulting in an annualized dividend yield of 3.2%, with a payout ratio of 40.70%.

First Hawaiian Bank boosted its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 25.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,125 shares of the real estate investment trust's stock after purchasing an additional 5,685 shares during the quarter. First Hawaiian Bank's holdings in Sun Communities were worth $3,618,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SUI. Twin Tree Management LP bought a new position in shares of Sun Communities during the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC purchased a new stake in Sun Communities during the first quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in Sun Communities during the 1st quarter valued at approximately $31,000. GKV Capital Management Co. Inc. bought a new stake in Sun Communities during the 1st quarter valued at approximately $42,000. Finally, Parallel Advisors LLC grew its holdings in Sun Communities by 66.4% in the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SUI shares. Wells Fargo & Company lowered their price objective on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a research report on Thursday, September 4th. Robert W. Baird boosted their target price on shares of Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Finally, Evercore ISI raised their price target on Sun Communities from $136.00 to $138.00 and gave the company an "in-line" rating in a report on Monday. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $137.86.

Sun Communities Stock Up 0.3%

NYSE:SUI traded up $0.39 during mid-day trading on Wednesday, reaching $128.86. The company's stock had a trading volume of 352,252 shares, compared to its average volume of 873,819. The firm has a market capitalization of $16.13 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 6.64 and a beta of 0.86. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $146.13. 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 stock has a fifty day moving average of $125.80 and a 200-day moving average of $125.71.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results 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. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The firm had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. During the same period in the previous year, the business earned $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Equities research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Sun Communities's dividend payout ratio (DPR) is currently 40.70%.

Sun Communities 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.