Norges Bank Purchases New Position in Sun Communities, Inc. $SUI

Norges Bank purchased a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,079,930 shares of the real estate investment trust’s stock, valued at approximately $753,364,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sun Communities by 1,226.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 184 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Sun Communities during the 3rd quarter worth $27,000. Fulcrum Asset Management LLP purchased a new position in shares of Sun Communities during the 3rd quarter worth $27,000. Global X Japan Co. Ltd. purchased a new position in shares of Sun Communities during the 4th quarter worth $33,000. Finally, Assetmark Inc. boosted its stake in shares of Sun Communities by 55.7% during the 3rd quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In other news, EVP Fernando Castro-Caratini sold 23,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total value of $2,955,212.50. Following the completion of the sale, the executive vice president owned 9,998 shares of the company’s stock, valued at approximately $1,244,051.14. This represents a 70.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clunet R. Lewis sold 3,200 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $136.15, for a total transaction of $435,680.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,750 shares of company stock valued at $3,907,731 in the last ninety days. Corporate insiders own 1.58% of the company’s stock.

Sun Communities Stock Performance

Shares of NYSE:SUI opened at $123.47 on Friday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $15.22 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 4.07 and a beta of 0.82. The firm’s 50-day moving average is $127.02 and its 200 day moving average is $127.55. Sun Communities, Inc. has a 12 month low of $115.53 and a 12 month high of $137.85.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($1.38). The company had revenue of $500.50 million during the quarter, compared to the consensus estimate of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.Sun Communities’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. 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 predict that Sun Communities, Inc. will post 6.92 EPS for the current year.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $1.12 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. This is an increase from Sun Communities’s previous quarterly dividend of $1.04. Sun Communities’s payout ratio is currently 40.69%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zelman & Associates started coverage on shares of Sun Communities in a research note on Monday, March 16th. They set an “outperform” rating and a $127.75 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Sun Communities from $148.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Evercore reiterated an “outperform” rating and issued a $144.00 price target on shares of Sun Communities in a report on Wednesday, April 29th. Wells Fargo & Company reduced their target price on shares of Sun Communities from $150.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Mizuho assumed coverage on shares of Sun Communities in a report on Tuesday, March 31st. They issued an “outperform” rating and a $143.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $141.27.

About Sun Communities

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.