KBC Group NV Decreases Stake in Sun Communities, Inc. (NYSE:SUI)

KBC Group NV lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,799 shares of the real estate investment trust's stock after selling 8,949 shares during the period. KBC Group NV's holdings in Sun Communities were worth $4,219,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SUI. Opal Wealth Advisors LLC acquired a new stake in shares of Sun Communities during the first quarter worth $29,000. Aster Capital Management DIFC Ltd raised its stake in Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 124 shares during the period. Parallel Advisors LLC grew its stake in Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 190 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Sun Communities by 510.4% in the first quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the stock a "hold" rating in a report on Wednesday, June 25th. Truist Financial set a $137.00 price target on shares of Sun Communities and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Robert W. Baird decreased their price objective on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group began coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price objective on the stock. Finally, Colliers Securities began coverage on shares of Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $138.08.

Insider Buying and Selling at Sun Communities

In other news, Director Jeff Blau acquired 3,665 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the acquisition, the director owned 3,665 shares in the company, valued at approximately $432,433.35. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.77% of the stock is currently owned by company insiders.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $128.47 on Thursday. The firm has a market cap of $16.40 billion, a PE ratio of 207.21, a P/E/G ratio of 8.70 and a beta of 0.86. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $124.62 and a 200 day moving average price of $125.50.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, beating the consensus estimate of $1.18 by $0.08. The company had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. Sun Communities's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. Sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's payout ratio is currently 670.97%.

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.

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