Northern Trust Corp Has $149.33 Million Stock Position in Sun Communities, Inc. $SUI

Key Points

• Northern Trust Corp increased its stake in Sun Communities, Inc. by 4.8% in the first quarter, acquiring an additional 53,464 shares, bringing its total ownership to 1,160,858 shares valued at $149.3 million.
• Analyst ratings for Sun Communities vary, with six analysts rating the stock as a Buy, eight as a Hold, and one as a Sell, while the average target price stands at $138.43.
• Sun Communities has recently increased its quarterly dividend to $1.04 per share, reflecting an annualized yield of 3.3%, up from the previous dividend of $0.94.

Northern Trust Corp raised its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,160,858 shares of the real estate investment trust's stock after acquiring an additional 53,464 shares during the period. Northern Trust Corp owned 0.91% of Sun Communities worth $149,333,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SUI. Utah Retirement Systems raised its position 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 in the last quarter. Cascade Investment Advisors Inc. increased its position in shares of Sun Communities by 1.0% in the first quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust's stock worth $1,347,000 after acquiring an additional 100 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Sun Communities by 0.4% during 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 period. 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 worth $322,000 after acquiring an additional 102 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Sun Communities by 11.6% in the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock worth $149,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

SUI has been the subject of a number of recent research reports. Truist Financial raised their price target on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on Sun Communities and gave the company a "hold" rating in a research report on Wednesday, June 25th. Wells Fargo & Company dropped their target price on shares of Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Colliers Securities began coverage on shares of Sun Communities in a research report on Friday, June 13th. They set a "neutral" rating and a $130.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sun Communities presently has a consensus rating of "Hold" and an average target price of $138.21.

Sun Communities Trading Down 1.0%

Shares of NYSE:SUI traded down $1.23 during mid-day trading on Thursday, reaching $125.31. The stock had a trading volume of 103,734 shares, compared to its average volume of 872,263. The firm has a 50 day simple moving average of $125.66 and a two-hundred day simple moving average of $125.77. 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 firm has a market cap of $15.68 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 6.44 and a beta of 0.83. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.09. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The company had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same quarter last 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. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $1.04 per share. This is a boost from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities's payout ratio is presently 40.70%.

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.