Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division boosted its stake in Sun Communities, Inc. (NYSE:SUI) by 97.2% in the 4th quarter, Holdings Channel reports. The firm owned 3,500 shares of the real estate investment trust’s stock after buying an additional 1,725 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Sun Communities were worth $430,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SUI. Assetmark Inc. boosted its position in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group acquired a new position in Sun Communities during the 3rd quarter worth approximately $41,000. Quest Partners LLC boosted its holdings in Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Sun Communities in the third quarter valued at approximately $60,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. BMO Capital Markets decreased their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Evercore ISI boosted their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, Truist Financial dropped their price objective on Sun Communities from $138.00 to $131.00 and set a “hold” rating on the stock in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $135.69.

Sun Communities Stock Performance

Shares of SUI opened at $124.72 on Friday. The stock has a market capitalization of $15.89 billion, a PE ratio of 67.05, a price-to-earnings-growth ratio of 0.51 and a beta of 0.88. The business’s fifty day moving average price is $125.95 and its 200 day moving average price is $128.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $2.57 earnings per share. Equities research analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Tuesday, December 31st. Sun Communities’s payout ratio is 202.15%.

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.