Swedbank AB Purchases 27,700 Shares of Sun Communities, Inc. $SUI

Key Points

• Swedbank AB increased its Sun Communities stake by 21.4% in the fourth quarter, buying 27,700 additional shares and bringing its total holding to 157,113 shares worth about $19.5 million.
• Sun Communities reported a quarterly EPS miss, posting -$0.07 per share versus the $1.31 consensus, even though revenue rose 8% year over year to $500.5 million.
• The REIT raised its quarterly dividend to $1.12 per share from $1.04, implying an annualized yield of about 3.6%.

Swedbank AB boosted its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,113 shares of the real estate investment trust's stock after acquiring an additional 27,700 shares during the period. Swedbank AB owned approximately 0.13% of Sun Communities worth $19,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SUI. Wellington Management Group LLP increased its stake in Sun Communities by 1,224.1% during the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust's stock valued at $578,668,000 after acquiring an additional 4,147,015 shares during the period. M&T Bank Corp increased its stake in Sun Communities by 20,348.9% during the fourth quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust's stock valued at $61,749,000 after acquiring an additional 495,902 shares during the period. Millennium Management LLC increased its stake in Sun Communities by 124.4% during the third quarter. Millennium Management LLC now owns 685,324 shares of the real estate investment trust's stock valued at $88,407,000 after acquiring an additional 379,877 shares during the period. Alyeska Investment Group L.P. bought a new position in Sun Communities during the third quarter valued at about $42,260,000. Finally, Balyasny Asset Management L.P. bought a new position in Sun Communities during the third quarter valued at about $39,200,000. 99.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SUI. Truist Financial lowered their price target on Sun Communities from $147.00 to $141.00 and set a "buy" rating on the stock in a research note on Tuesday. Mizuho began coverage on Sun Communities in a research note on Tuesday, March 31st. They issued an "outperform" rating and a $143.00 price objective on the stock. Barclays upped their price objective on Sun Communities from $144.00 to $148.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. Deutsche Bank Aktiengesellschaft lowered Sun Communities from a "buy" rating to a "hold" rating and set a $138.00 price objective on the stock. in a research note on Wednesday, April 15th. Finally, Wells Fargo & Company upgraded Sun Communities from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $133.00 to $150.00 in a research note on Friday, February 27th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sun Communities currently has an average rating of "Moderate Buy" and a consensus target price of $140.23.

Insider Buying and Selling

In related news, Director Clunet R. Lewis sold 3,200 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $136.15, for a total transaction of $435,680.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.58% of the stock is currently owned by company insiders.

Sun Communities Trading Down 0.1%

SUI stock opened at $125.90 on Friday. Sun Communities, Inc. has a 1-year low of $115.53 and a 1-year high of $137.85. The firm has a market cap of $15.51 billion, a P/E ratio of 11.44, a P/E/G ratio of 3.33 and a beta of 0.82. The business's 50 day moving average is $130.60 and its 200-day moving average is $127.55. The company has a current ratio of 3.39, a quick 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 for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a net margin of 62.29% and a return on equity of 0.16%. The company had revenue of $500.50 million during the quarter, compared to the consensus estimate of $472.40 million. During the same quarter in the prior year, the company posted $1.26 earnings per share. The company's revenue for the quarter was up 8.0% on a year-over-year basis. 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. Equities analysts anticipate that Sun Communities, Inc. will post 6.94 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $1.12 per share. This is a boost from Sun Communities's previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, March 31st. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. Sun Communities's dividend payout ratio is currently 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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