Nomura Holdings Inc. Takes Position in Sun Communities, Inc. (NYSE:SUI)

Nomura Holdings Inc. bought a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 13,005 shares of the real estate investment trust's stock, valued at approximately $1,599,000.

Several other hedge funds have also recently bought and sold shares of SUI. Aster Capital Management DIFC Ltd grew its holdings in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 232 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Sun Communities by 45.1% in 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. CKW Financial Group boosted its stake in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 135 shares in the last quarter. Natixis acquired a new position in Sun Communities in the fourth quarter worth approximately $90,000. Finally, Quadrant Capital Group LLC lifted its stake in Sun Communities by 17.2% during the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 123 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Up 0.7%

Shares of SUI stock traded up $0.81 on Tuesday, hitting $124.22. 487,781 shares of the stock were exchanged, compared to its average volume of 834,231. The firm has a market capitalization of $15.86 billion, a P/E ratio of 66.78 and a beta of 0.86. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The business has a 50-day moving average of $125.05 and a 200 day moving average of $125.88. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $470.20 million for the quarter, compared to analysts' expectations of $538.63 million. During the same quarter in the prior year, the business posted $1.19 EPS. The business's revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.03%. Sun Communities's dividend payout ratio (DPR) is currently 606.45%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SUI shares. Truist Financial cut their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Bank of America upped their price objective on shares of Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research report on Monday, May 12th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. JMP Securities reissued a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a report on Tuesday. Finally, Royal Bank of Canada decreased their price target on Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Sun Communities currently has an average rating of "Hold" and a consensus target price of $138.70.

About Sun Communities

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.