Hsbc Holdings PLC Boosts Stake in Sun Communities, Inc. $SUI

Key Points

• HSBC Holdings PLC increased its stake in Sun Communities by 9.5% in the fourth quarter, ending with 596,643 shares valued at about $74 million. The filing also shows institutional ownership remains extremely high at 99.59%.
• Insider selling was notable, with Director Gary A. Shiffman and EVP Fernando Castro-Caratini both selling shares in recent transactions worth about $3.0 million and $3.0 million, respectively. Insiders currently own 1.58% of the company.
• Sun Communities reported mixed quarterly results, missing EPS estimates but beating on revenue, and it also declared a quarterly dividend of $1.12 per share. Analysts currently rate the stock a “Moderate Buy,” with a consensus price target of $140.48.

Hsbc Holdings PLC boosted its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 596,643 shares of the real estate investment trust's stock after purchasing an additional 51,941 shares during the period. Hsbc Holdings PLC owned approximately 0.48% of Sun Communities worth $74,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Sun Communities during the fourth quarter valued at approximately $753,364,000. Wellington Management Group LLP boosted its holdings in Sun Communities by 1,224.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust's stock valued at $578,668,000 after acquiring an additional 4,147,015 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Sun Communities by 37,933.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust's stock valued at $182,663,000 after acquiring an additional 1,470,286 shares during the period. M&T Bank Corp grew its position in Sun Communities by 20,348.9% in the 4th quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust's stock valued at $61,749,000 after acquiring an additional 495,902 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Sun Communities by 152.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 767,190 shares of the real estate investment trust's stock valued at $95,063,000 after acquiring an additional 463,312 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Insider Activity

In other news, Director Gary A. Shiffman sold 25,031 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the sale, the director owned 857,761 shares of the company's stock, valued at approximately $102,897,009.56. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the 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 transaction, the executive vice president owned 9,998 shares in the company, valued at approximately $1,244,051.14. This represents a 70.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.58% of the company's stock.

Sun Communities Price Performance

SUI opened at $123.66 on Friday. Sun Communities, Inc. has a 12-month low of $115.53 and a 12-month high of $137.85. 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 business's fifty day simple moving average is $123.74 and its 200-day simple moving average is $126.76. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 4.07 and a beta of 0.79.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The firm had revenue of $500.50 million for the quarter, compared to analysts' expectations of $472.40 million. During the same quarter in the prior year, the business posted $1.26 EPS. The business'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, equities research analysts anticipate that Sun Communities, Inc. will post 6.93 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SUI shares. Royal Bank Of Canada decreased their target price on Sun Communities from $151.00 to $149.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Sun Communities in a report on Thursday, May 14th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $150.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Jefferies Financial Group upgraded shares of Sun Communities to a "strong-buy" rating in a report on Friday, June 26th. Finally, Zelman & Associates started coverage on shares of Sun Communities in a research report on Monday, March 16th. They issued an "outperform" rating and a $127.75 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Sun Communities currently has an average rating of "Moderate Buy" and a consensus target price of $140.48.

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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