Nordea Investment Management AB Acquires 720 Shares of Sun Communities, Inc. $SUI

Nordea Investment Management AB lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 7.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,710 shares of the real estate investment trust’s stock after buying an additional 720 shares during the quarter. Nordea Investment Management AB’s holdings in Sun Communities were worth $1,358,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Sun Communities by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 17,947,285 shares of the real estate investment trust’s stock worth $2,308,739,000 after purchasing an additional 403,923 shares during the period. Dodge & Cox boosted its stake in Sun Communities by 42.1% during the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock worth $1,755,656,000 after acquiring an additional 4,041,802 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 10.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after buying an additional 568,514 shares during the last quarter. Deutsche Bank AG raised its holdings in Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock worth $207,294,000 after buying an additional 820,422 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sun Communities by 2.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,404,160 shares of the real estate investment trust’s stock worth $180,631,000 after buying an additional 39,849 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

SUI has been the subject of several research reports. Evercore ISI boosted their price objective on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Royal Bank Of Canada reduced their target price on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating for the company in a report on Friday, August 1st. Robert W. Baird upped their price target on shares of Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Wells Fargo & Company dropped their price target on shares of Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Finally, Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sun Communities currently has an average rating of “Hold” and a consensus price target of $137.86.

Sun Communities Trading Down 1.9%

SUI stock opened at $123.27 on Friday. The company has a market capitalization of $15.43 billion, a PE ratio of 12.06, a P/E/G ratio of 6.46 and a beta of 0.86. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $140.49. The firm’s 50-day moving average is $126.89 and its 200 day moving average is $125.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. The company had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same quarter last year, the firm posted $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is currently 40.70%.

About Sun Communities

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.