Swedbank AB Sells 15,400 Shares of Sun Communities, Inc. $SUI

Key Points

• Swedbank AB cut its Sun Communities stake by 9.8% in the first quarter, selling 15,400 shares and leaving it with 141,713 shares worth about $17.85 million.
• Sun Communities has seen mixed but generally positive analyst support, with multiple firms issuing buy/outperform ratings and an average Wall Street price target of $140.12, above the recent trading level.
• Insiders have also been selling shares, including EVP Fernando Castro-Caratini and Director Gary A. Shiffman, even as the company recently declared a quarterly dividend of $1.12 per share.

Swedbank AB reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,713 shares of the real estate investment trust's stock after selling 15,400 shares during the quarter. Swedbank AB owned 0.11% of Sun Communities worth $17,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. Thurston Springer Miller Herd & Titak Inc. lifted its position in Sun Communities by 1,226.7% during 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 acquired a new position in shares of Sun Communities in the 3rd quarter valued at approximately $27,000. Global X Japan Co. Ltd. acquired a new position in shares of Sun Communities in the 4th quarter valued at approximately $33,000. Wiser Advisor Group LLC bought a new stake in shares of Sun Communities during the 3rd quarter worth approximately $46,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of Sun Communities during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SUI. Zelman & Associates began coverage on shares of Sun Communities in a research note on Monday, March 16th. They issued an "outperform" rating and a $127.75 price objective on the stock. Odeon Capital Group set a $135.00 target price on Sun Communities in a research note on Thursday. Mizuho reduced their target price on Sun Communities from $143.00 to $137.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Sun Communities in a research note on Thursday, May 14th. Finally, Truist Financial dropped their price objective on Sun Communities from $141.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $140.12.

Insider Buying and Selling

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

Sun Communities Trading Down 0.4%

NYSE SUI opened at $118.71 on Friday. 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, Inc. has a twelve month low of $115.53 and a twelve month high of $137.85. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 3.94 and a beta of 0.79. The business's fifty day moving average is $123.07 and its 200 day moving average is $126.71.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($1.38). The firm had revenue of $500.50 million during the quarter, compared to analyst estimates of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.Sun Communities's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. 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, sell-side analysts expect that Sun Communities, Inc. will post 6.9 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, June 30th. Sun Communities's dividend payout ratio (DPR) is 40.69%.

Sun Communities Profile

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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