Royal Bank of Canada Has $14.57 Million Holdings in Sun Communities, Inc. $SUI

Key Points

• Royal Bank of Canada reduced its holdings in Sun Communities, Inc. by 60.1%, owning 113,231 shares valued at approximately $14.57 million at the end of the first quarter.
• The company recently reported a quarterly dividend of $1.04 per share, representing a 3.2% dividend yield and a payout ratio of 40.70%.
• Sun Communities has a market capitalization of $16.08 billion with a recent stock price of $128.48, reflecting a 1.3% decline in shares.

Royal Bank of Canada lessened its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 60.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,231 shares of the real estate investment trust's stock after selling 170,627 shares during the period. Royal Bank of Canada owned 0.09% of Sun Communities worth $14,566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SUI. Baird Financial Group Inc. lifted its position in Sun Communities by 5.7% during the 4th quarter. Baird Financial Group Inc. now owns 4,381 shares of the real estate investment trust's stock worth $539,000 after acquiring an additional 238 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Sun Communities by 3.7% during the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock worth $446,000 after purchasing an additional 128 shares during the period. Cresset Asset Management LLC increased its holdings in shares of Sun Communities by 13.7% during the 4th quarter. Cresset Asset Management LLC now owns 3,830 shares of the real estate investment trust's stock worth $474,000 after purchasing an additional 461 shares during the period. Ethic Inc. increased its stake in Sun Communities by 13.3% in the fourth quarter. Ethic Inc. now owns 7,346 shares of the real estate investment trust's stock valued at $903,000 after acquiring an additional 863 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Sun Communities by 5.3% in the fourth quarter. Janus Henderson Group PLC now owns 27,936 shares of the real estate investment trust's stock valued at $3,435,000 after acquiring an additional 1,400 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Down 1.3%

Shares of NYSE:SUI opened at $128.48 on Thursday. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The company has a market capitalization of $16.08 billion, a PE ratio of 12.57, a PEG ratio of 6.72 and a beta of 0.86. The company has a 50 day moving average price of $125.72 and a two-hundred day moving average price of $125.90.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating the consensus estimate of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The firm had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. During the same quarter in the prior year, the firm earned $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 forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. Sun Communities's dividend payout ratio is currently 40.70%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Sun Communities from $137.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Barclays initiated coverage on shares of Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the stock a "hold" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada decreased their price objective on shares of Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, Wells Fargo & Company reduced 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, August 27th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $138.71.

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.

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