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

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Inspire Investing LLC increased its stake in shares of Sun Communities by 5.7% in the 1st quarter. Inspire Investing LLC now owns 14,129 shares of the real estate investment trust's stock valued at $1,818,000 after purchasing an additional 761 shares in the last quarter. Anson Funds Management LP increased its stake in shares of Sun Communities by 67.9% in the 1st quarter. Anson Funds Management LP now owns 36,920 shares of the real estate investment trust's stock valued at $4,749,000 after purchasing an additional 14,930 shares in the last quarter. Strs Ohio purchased a new position in shares of Sun Communities in the 1st quarter valued at about $27,381,000. Acadian Asset Management LLC purchased a new position in shares of Sun Communities in the 1st quarter valued at about $362,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Sun Communities in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SUI shares. Morgan Stanley set a $142.00 price target on Sun Communities in a research note on Thursday, September 4th. Wall Street Zen upgraded Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Colliers Securities started coverage on Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 price objective for the company. Wells Fargo & Company cut their price objective on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Finally, JMP Securities reiterated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. 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 stock. According to data from MarketBeat.com, Sun Communities presently has an average rating of "Hold" and an average price target of $138.71.

Sun Communities Price Performance

Shares of Sun Communities stock traded down $1.28 on Friday, hitting $130.00. 568,811 shares of the company were exchanged, compared to its average volume of 806,335. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 6.71 and a beta of 0.86. The company has a 50-day moving average price of $125.77 and a 200 day moving average price of $125.74. 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.

Sun Communities (NYSE:SUI - Get Free Report) last issued 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. The business had revenue of $623.50 million for the quarter, compared to analysts' expectations of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.During the same period in the previous year, the firm posted $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. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

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

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.