Principal Financial Group Inc. boosted its position in shares of Sun Communities, Inc. (NYSE:SUI – Free Report) by 14.6% in the first quarter, Holdings Channel reports. The fund owned 131,568 shares of the real estate investment trust’s stock after purchasing an additional 16,782 shares during the quarter. Principal Financial Group Inc.’s holdings in Sun Communities were worth $16,572,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Sun Communities by 1,226.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 184 shares during the period. Fulcrum Asset Management LLP bought a new position in shares of Sun Communities in the 3rd quarter worth approximately $27,000. Global X Japan Co. Ltd. bought a new position in shares of Sun Communities in the 4th quarter worth approximately $33,000. Wiser Advisor Group LLC purchased a new position in shares of Sun Communities in the third quarter worth approximately $46,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of Sun Communities in the fourth quarter worth approximately $48,000. 99.59% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on SUI. Truist Financial reduced their target price on shares of Sun Communities from $141.00 to $138.00 and set a “buy” rating for the company in a report on Friday, June 26th. Weiss Ratings lowered Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Royal Bank Of Canada decreased their target price on Sun Communities from $151.00 to $149.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price target on Sun Communities in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Sun Communities presently has an average rating of “Moderate Buy” and an average price target of $140.05.
Sun Communities Trading Up 0.6%
SUI stock opened at $119.73 on Thursday. Sun Communities, Inc. has a 1-year low of $115.53 and a 1-year high of $137.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.39 and a quick ratio of 3.39. The company has a market capitalization of $14.75 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 3.93 and a beta of 0.79. The business has a 50 day simple moving average of $122.04 and a two-hundred day simple moving average of $126.45.
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 (EPS) 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 for the quarter, compared to the consensus estimate of $472.40 million. During the same quarter in the previous year, the business earned $1.26 EPS. The company’s quarterly revenue 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. Research analysts anticipate that Sun Communities, Inc. will post 6.9 EPS for the current fiscal year.
Sun Communities Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s payout ratio is currently 40.69%.
Insider Buying and Selling at Sun Communities
In other news, EVP Fernando Castro-Caratini sold 23,750 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the transaction, the executive vice president owned 9,998 shares in the company, valued at $1,244,051.14. This trade represents a 70.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary A. Shiffman sold 25,031 shares of Sun Communities stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the sale, the director directly owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.58% of the stock is owned by insiders.
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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