Korea Investment CORP Has $8.38 Million Holdings in Sun Communities, Inc. $SUI

Key Points

• Korea Investment CORP reduced its stake in Sun Communities, Inc. by 44.2%, now holding approximately 65,118 shares valued at $8.38 million.
• Sun Communities announced a quarterly dividend of $1.04 per share, marking an increase from its previous dividend of $0.94, with a current dividend yield of 3.3%.
• Several analysts have recently issued reports on Sun Communities, with an average price target of $138.43 and a consensus rating of "Hold" on the stock.

Korea Investment CORP cut its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 44.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,118 shares of the real estate investment trust's stock after selling 51,500 shares during the period. Korea Investment CORP owned approximately 0.05% of Sun Communities worth $8,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Utah Retirement Systems boosted its stake in shares of Sun Communities by 0.5% during the 4th quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after buying an additional 100 shares during the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Sun Communities by 1.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock worth $1,347,000 after buying an additional 100 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Sun Communities by 0.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust's stock valued at $3,487,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Sun Communities by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust's stock valued at $322,000 after purchasing an additional 102 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Sun Communities by 11.6% in the 1st quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock valued at $149,000 after purchasing an additional 120 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Up 0.0%

SUI opened at $126.8570 on Friday. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. The company has a market cap of $15.88 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 6.54 and a beta of 0.83. The company has a fifty day moving average price of $125.57 and a two-hundred day moving average price of $125.76.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. The firm had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the previous year, the firm posted $1.86 earnings per share. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, June 30th. This is a boost from Sun Communities's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities's payout ratio is presently 40.70%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SUI shares. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays initiated coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target for the company. Morgan Stanley started coverage on shares of Sun Communities in a research note on Tuesday, July 15th. They issued an "equal weight" rating and a $135.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Sun Communities from $126.00 to $134.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Royal Bank Of Canada cut their target price on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $138.43.

Sun Communities 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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