Mitsubishi UFJ Asset Management Co. Ltd. Buys 2,411 Shares of Sun Communities, Inc. $SUI

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Sun Communities, Inc. (NYSE:SUI) by 1.3% in the second quarter, HoldingsChannel.com reports. The fund owned 190,355 shares of the real estate investment trust’s stock after acquiring an additional 2,411 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Sun Communities were worth $24,078,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Aviva PLC grew its holdings in Sun Communities by 1,862.2% during the second quarter. Aviva PLC now owns 95,205 shares of the real estate investment trust’s stock valued at $12,042,000 after purchasing an additional 90,353 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Sun Communities by 519.9% during the second quarter. Los Angeles Capital Management LLC now owns 17,362 shares of the real estate investment trust’s stock worth $2,196,000 after purchasing an additional 14,561 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Sun Communities by 24.1% in the 2nd quarter. AGF Management Ltd. now owns 24,966 shares of the real estate investment trust’s stock valued at $3,158,000 after buying an additional 4,846 shares during the period. Metis Global Partners LLC increased its position in shares of Sun Communities by 23.5% in the 2nd quarter. Metis Global Partners LLC now owns 21,426 shares of the real estate investment trust’s stock valued at $2,710,000 after buying an additional 4,075 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of Sun Communities by 207.6% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 16,311 shares of the real estate investment trust’s stock valued at $2,063,000 after buying an additional 11,009 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Robert W. Baird boosted their price objective on Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Truist Financial increased their target price on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley set a $142.00 target price on shares of Sun Communities in a report on Thursday, September 4th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $137.31.

Sun Communities Stock Up 1.7%

SUI stock opened at $127.98 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The stock has a market capitalization of $15.83 billion, a P/E ratio of 16.04, a P/E/G ratio of 4.05 and a beta of 0.86. The business has a 50-day moving average of $126.42 and a 200-day moving average of $125.50. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $137.77.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The business had revenue of $697.20 million for the quarter, compared to analyst estimates of $713.32 million. During the same quarter last year, the firm earned $2.34 EPS. Sun Communities’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. On average, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $1.04 per share. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.3%. Sun Communities’s dividend payout ratio is presently 52.13%.

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.