Sun Communities, Inc. (NYSE:SUI) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in shares of Sun Communities, Inc. (NYSE:SUI) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,344,020 shares of the real estate investment trust’s stock after acquiring an additional 442,557 shares during the quarter. Sun Communities comprises 1.3% of Daiwa Securities Group Inc.’s portfolio, making the stock its 22nd biggest position. Daiwa Securities Group Inc.’s holdings in Sun Communities were worth $288,244,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after purchasing an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sun Communities by 1,061.4% during 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 valued at $178,868,000 after buying an additional 1,209,522 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after buying an additional 355,427 shares during the period. Adelante Capital Management LLC increased its position in shares of Sun Communities by 168.7% in the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after acquiring an additional 351,017 shares in the last quarter. Finally, abrdn plc increased its position in shares of Sun Communities by 343.5% in the fourth quarter. abrdn plc now owns 277,988 shares of the real estate investment trust’s stock worth $34,098,000 after acquiring an additional 215,314 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SUI. Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company reduced their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Finally, Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $134.55.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $133.60 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The firm’s 50-day simple moving average is $126.73 and its 200-day simple moving average is $129.67. The firm has a market cap of $17.02 billion, a PE ratio of 71.83 and a beta of 0.90.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Equities analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

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.