First Hawaiian Bank Has $2.76 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

First Hawaiian Bank increased its stake in Sun Communities, Inc. (NYSE:SUI) by 29.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,440 shares of the real estate investment trust’s stock after purchasing an additional 5,100 shares during the quarter. First Hawaiian Bank’s holdings in Sun Communities were worth $2,759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after acquiring an additional 1,430,630 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Sun Communities by 3.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after purchasing an additional 111,569 shares during the period. Dimensional Fund Advisors LP raised its stake in Sun Communities by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after purchasing an additional 10,592 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after buying an additional 1,209,522 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sun Communities by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust’s stock worth $145,359,000 after buying an additional 3,254 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SUI shares. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Evercore ISI boosted their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their target price for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $135.69.

Sun Communities Stock Up 0.5 %

SUI opened at $122.56 on Thursday. The company has a market capitalization of $15.61 billion, a P/E ratio of 65.89, a P/E/G ratio of 0.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm’s fifty day moving average price is $125.38 and its two-hundred day moving average price is $129.03. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company earned $2.57 EPS. On average, analysts anticipate 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. Investors of record on Tuesday, December 31st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.07%. The ex-dividend date is Tuesday, December 31st. Sun Communities’s dividend payout ratio is 202.15%.

Sun Communities Company 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.