Fjarde AP Fonden Fourth Swedish National Pension Fund Takes $4.02 Million Position in Sun Communities, Inc. $SUI

Key Points

• Fjarde AP Fonden disclosed a new position in Sun Communities, buying 32,408 shares valued at about $4.02 million in the fourth quarter.
• Sun Communities reported Q1 earnings of -$0.07 per share, missing estimates, though revenue of $500.5 million topped expectations and rose 8% year over year.
• The REIT announced a quarterly dividend of $1.12 per share, implying a 3.7% yield, while analysts currently rate the stock Moderate Buy with a consensus target price of $141.13.

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,408 shares of the real estate investment trust's stock, valued at approximately $4,016,000.

Several other institutional investors and hedge funds have also bought and sold shares of SUI. AQR Capital Management LLC grew its holdings in 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 period. Goldman Sachs Group Inc. grew its holdings in 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 period. Empowered Funds LLC grew its holdings in 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 period. Acadian Asset Management LLC bought a new position in Sun Communities during the first quarter valued at $362,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in 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 period. 99.59% of the stock is owned by institutional investors.

Sun Communities Trading Down 1.2%

NYSE:SUI opened at $122.18 on Tuesday. The company has a market cap of $15.06 billion, a P/E ratio of 11.10, a P/E/G ratio of 4.06 and a beta of 0.80. The stock's fifty day moving average price is $126.15 and its two-hundred day moving average price is $127.37. Sun Communities, Inc. has a 1 year low of $115.53 and a 1 year high of $137.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.39 and a quick ratio of 3.39.

Sun Communities (NYSE:SUI - Get Free Report) last posted 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). The company had revenue of $500.50 million for the quarter, compared to analysts' expectations of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The company's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. 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, analysts expect that Sun Communities, Inc. will post 6.94 EPS for the current year.

Sun Communities Dividend Announcement

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

Insider Activity

In other Sun Communities news, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the sale, the executive vice president owned 9,998 shares in the company, valued at $1,244,051.14. This represents a 70.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SUI. Zelman & Associates began coverage on Sun Communities in a report on Monday, March 16th. They set an "outperform" rating and a $127.75 price objective for the company. Citigroup increased their price objective on Sun Communities from $150.00 to $155.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Truist Financial reduced their price objective on Sun Communities from $147.00 to $141.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Sun Communities in a report on Thursday, May 14th. Finally, Weiss Ratings lowered Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Sun Communities currently has an average rating of "Moderate Buy" and a consensus target price of $141.13.

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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