Principal Financial Group Inc. Boosts Stake in Sun Communities, Inc. $SUI

Key Points

• Principal Financial Group increased its stake in Sun Communities by 14.6% in Q1, buying 16,782 additional shares and bringing its total holding to 131,568 shares worth about $16.6 million.
• Analyst sentiment remains generally positive, with Sun Communities carrying a Moderate Buy consensus and an average price target of $140.05, though some firms recently cut targets or downgraded the stock.
• The company reported a miss on quarterly EPS but beat revenue expectations, and it continues to pay a quarterly dividend of $1.12 per share, implying a 3.7% annual yield.

Principal Financial Group Inc. lifted its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 14.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,568 shares of the real estate investment trust's stock after acquiring an additional 16,782 shares during the period. Principal Financial Group Inc. owned 0.11% of Sun Communities worth $16,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in Sun Communities by 1,226.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 184 shares during the period. Fulcrum Asset Management LLP bought a new position in Sun Communities in the third quarter worth $27,000. Global X Japan Co. Ltd. purchased a new position in Sun Communities during the fourth quarter valued at $33,000. Wiser Advisor Group LLC purchased a new position in Sun Communities during the third quarter valued at $46,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of Sun Communities during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Sun Communities from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Wells Fargo & Company lowered their price target on shares of Sun Communities from $150.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Colliers Securities upgraded shares of Sun Communities from a "neutral" rating to a "buy" rating and set a $150.00 price objective on the stock in a report on Friday, May 22nd. Mizuho decreased their target price on shares of Sun Communities from $143.00 to $137.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Finally, Odeon Capital Group set a $135.00 target price on shares of Sun Communities in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $140.05.

Insider Buying and Selling at Sun Communities

In related news, EVP Fernando Castro-Caratini sold 23,750 shares of Sun Communities stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total value of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares in the company, valued at approximately $1,244,051.14. This trade represents a 70.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary A. Shiffman sold 25,031 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director directly owned 857,761 shares of the company's stock, valued at approximately $102,897,009.56. This trade represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.58% of the company's stock.

Sun Communities Price Performance

Shares of SUI opened at $119.73 on Thursday. Sun Communities, Inc. has a twelve month low of $115.53 and a twelve month high of $137.85. The company has a market capitalization of $14.75 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 3.93 and a beta of 0.79. The firm has a 50 day moving average of $122.04 and a 200 day moving average of $126.45. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($1.38). The business had revenue of $500.50 million during 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 earnings per share. 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, equities research analysts anticipate that Sun Communities, Inc. will post 6.9 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Sun Communities's dividend payout ratio (DPR) is 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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