Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI – Get Rating) by 12.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,711 shares of the real estate investment trust’s stock after acquiring an additional 10,434 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.08% of Sun Communities worth $12,953,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of Sun Communities by 1.9% during the 1st quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 64 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Sun Communities by 5.1% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,558 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 75 shares during the period. Raymond James Trust N.A. raised its position in shares of Sun Communities by 6.4% during the 2nd quarter. Raymond James Trust N.A. now owns 1,266 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 76 shares during the period. South Shore Capital Advisors raised its position in shares of Sun Communities by 1.9% during the 2nd quarter. South Shore Capital Advisors now owns 4,176 shares of the real estate investment trust’s stock worth $665,000 after purchasing an additional 79 shares during the period. Finally, Aurora Investment Managers LLC. raised its position in shares of Sun Communities by 1.6% during the 3rd quarter. Aurora Investment Managers LLC. now owns 5,182 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on SUI. Royal Bank of Canada dropped their price target on Sun Communities from $174.00 to $164.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Truist Financial raised their target price on Sun Communities from $147.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 30th. StockNews.com initiated coverage on Sun Communities in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. Barclays lowered their target price on Sun Communities from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, October 7th. Finally, Robert W. Baird lowered their target price on Sun Communities from $175.00 to $169.00 in a research report on Friday, November 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Sun Communities presently has an average rating of “Moderate Buy” and an average price target of $168.86.
Sun Communities Stock Performance
Sun Communities (NYSE:SUI – Get Rating) last released its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.05). Sun Communities had a return on equity of 3.34% and a net margin of 8.81%. During the same period in the prior year, the business earned $2.11 EPS. Research analysts forecast that Sun Communities, Inc. will post 7.28 EPS for the current fiscal year.
Sun Communities Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, December 29th. Sun Communities’s dividend payout ratio is presently 171.71%.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.
- Get a free copy of the StockNews.com research report on Sun Communities (SUI)
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