M&T Bank Corp Buys 12,179 Shares of Sun Communities, Inc. $SUI

Key Points

• M&T Bank Corp increased its stake in Sun Communities by 499.8% in the fourth quarter, buying 12,179 additional shares and bringing its total holding to 14,616 shares valued at about $1.81 million.
• Analysts remain generally constructive on the REIT, with several firms issuing outperform/overweight ratings and the consensus view standing at Moderate Buy with a $140.23 target price.
• Sun Communities reported a Q1 earnings miss with EPS of -$0.07 versus expectations of $1.31, though revenue came in above estimates at $500.5 million and the company raised its quarterly dividend to $1.12 per share.

M&T Bank Corp grew its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 499.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,616 shares of the real estate investment trust's stock after buying an additional 12,179 shares during the quarter. M&T Bank Corp's holdings in Sun Communities were worth $1,811,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allstate Corp bought a new stake in shares of Sun Communities in the third quarter worth $659,000. Vanguard Group Inc. grew its stake in shares of Sun Communities by 1.4% in the third quarter. Vanguard Group Inc. now owns 18,289,956 shares of the real estate investment trust's stock worth $2,359,404,000 after purchasing an additional 249,501 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Sun Communities in the third quarter worth $1,527,000. Baillie Gifford & Co. grew its stake in shares of Sun Communities by 26.6% in the third quarter. Baillie Gifford & Co. now owns 48,210 shares of the real estate investment trust's stock worth $6,219,000 after purchasing an additional 10,127 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Sun Communities by 31.5% in the third quarter. Handelsbanken Fonder AB now owns 43,298 shares of the real estate investment trust's stock worth $5,585,000 after purchasing an additional 10,382 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Insider Buying and Selling at Sun Communities

In other news, Director Clunet R. Lewis sold 3,800 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $136.01, for a total transaction of $516,838.00. Following the transaction, the director owned 16,817 shares in the company, valued at approximately $2,287,280.17. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SUI shares. Zelman & Associates started coverage on shares of Sun Communities in a research note on Monday, March 16th. They issued an "outperform" rating and a $127.75 price objective on the stock. Mizuho assumed coverage on shares of Sun Communities in a research report on Tuesday, March 31st. They set an "outperform" rating and a $143.00 price target on the stock. Barclays upped their price target on shares of Sun Communities from $144.00 to $148.00 and gave the company an "overweight" rating in a research report on Friday, March 6th. Weiss Ratings cut shares of Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price target on shares of Sun Communities from $148.00 to $151.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.23.

Sun Communities Stock Performance

Shares of SUI opened at $125.90 on Friday. 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 stock has a market capitalization of $15.51 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 3.33 and a beta of 0.82. The firm's fifty day simple moving average is $130.60 and its two-hundred day simple moving average is $127.55. Sun Communities, Inc. has a 12 month low of $115.53 and a 12 month high of $137.85.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). The firm had revenue of $500.50 million for the quarter, compared to the consensus estimate of $472.40 million. Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The business's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $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 predict that Sun Communities, Inc. will post 6.94 EPS for the current year.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $1.12 per share. This is an increase from Sun Communities's previous quarterly dividend of $1.04. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, March 31st. Sun Communities's dividend payout ratio (DPR) is currently 40.69%.

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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