First Hawaiian Bank Has $3.62 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

First Hawaiian Bank lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 25.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,125 shares of the real estate investment trust's stock after purchasing an additional 5,685 shares during the quarter. First Hawaiian Bank's holdings in Sun Communities were worth $3,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SUI. Utah Retirement Systems increased its position in Sun Communities by 0.5% in the 4th quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock valued at $2,521,000 after acquiring an additional 100 shares during the period. Quadrant Capital Group LLC increased its position in Sun Communities by 17.2% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 123 shares during the period. Smartleaf Asset Management LLC increased its position in 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 valued at $49,000 after acquiring an additional 124 shares during the period. Argonautica Private Wealth Management Inc. increased its position in Sun Communities by 4.5% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,901 shares of the real estate investment trust's stock valued at $357,000 after acquiring an additional 126 shares during the period. Finally, Captrust Financial Advisors increased its position in Sun Communities by 3.7% in the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock valued at $446,000 after acquiring an additional 128 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on SUI shares. Jefferies Financial Group started coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price on the stock. Robert W. Baird decreased their price target on Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Royal Bank of Canada decreased their price target on Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Barclays assumed coverage on Sun Communities in a research note on Thursday. They set an "overweight" rating and a $141.00 price target for the company. Finally, Bank of America increased their price target on Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and a consensus price target of $138.91.

Sun Communities Price Performance

Shares of SUI traded up $0.97 during trading hours on Friday, hitting $123.38. 1,137,516 shares of the company were exchanged, compared to its average volume of 839,222. The company has a market capitalization of $15.75 billion, a PE ratio of 66.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a fifty day simple moving average of $123.49 and a 200-day simple moving average of $125.51. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.08. The business had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company's revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.19 EPS. As a group, sell-side analysts predict 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 was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's dividend payout ratio is presently 606.45%.

Sun Communities Profile

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.