Sun Communities, Inc. (NYSE:SUI) Shares Sold by KBC Group NV

KBC Group NV decreased its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 21.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,799 shares of the real estate investment trust's stock after selling 8,949 shares during the quarter. KBC Group NV's holdings in Sun Communities were worth $4,219,000 as of its most recent filing with the SEC.

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

Sun Communities Trading Up 0.6%

Shares of NYSE SUI traded up $0.76 during midday trading on Friday, reaching $129.26. 389,657 shares of the stock were exchanged, compared to its average volume of 856,172. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83. The stock has a 50 day moving average price of $124.90 and a 200-day moving average price of $125.63. The company has a market capitalization of $16.50 billion, a P/E ratio of 208.48, a P/E/G ratio of 8.81 and a beta of 0.86. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01.

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

Sun Communities Increases Dividend

The business also recently disclosed 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 is Monday, June 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio is currently 670.97%.

Analyst Upgrades and Downgrades

SUI has been the topic of several research analyst reports. Wall Street Zen lowered Sun Communities from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Bank of America lifted their price objective on Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft set a $135.00 target price on Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Jefferies Financial Group started coverage on Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Finally, Truist Financial set a $137.00 price objective on shares of Sun Communities and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $138.08.

Insider Activity at Sun Communities

In related news, Director Jeff Blau bought 3,665 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average cost of $117.99 per share, with a total value of $432,433.35. Following the completion of the transaction, the director owned 3,665 shares of the company's stock, valued at approximately $432,433.35. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.77% of the stock is currently owned by corporate insiders.

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.