KBC Group NV Boosts Holdings in Sun Communities, Inc. (NYSE:SUI)

KBC Group NV lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 303.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,939 shares of the real estate investment trust's stock after buying an additional 82,682 shares during the quarter. KBC Group NV owned about 0.09% of Sun Communities worth $14,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Quest Partners LLC grew its position in Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 381 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock worth $68,000 after buying an additional 236 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the second quarter valued at $62,000. Finally, Blue Trust Inc. boosted its holdings in Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $84,000 after acquiring an additional 436 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Trading Up 0.9 %

Shares of NYSE:SUI traded up $1.07 during midday trading on Friday, hitting $125.16. 863,376 shares of the stock traded hands, compared to its average volume of 832,722. The stock has a market capitalization of $15.94 billion, a PE ratio of 67.29, a P/E/G ratio of 0.53 and a beta of 0.91. The business's 50 day moving average is $134.14 and its two-hundred day moving average is $127.00. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last released its 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). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million for the quarter, compared to analysts' expectations of $980.41 million. During the same quarter in the previous year, the business posted $2.57 earnings per share. Sun Communities's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts forecast that Sun Communities, Inc. will post 6.75 earnings per share for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities's payout ratio is currently 202.15%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SUI. StockNews.com upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Tuesday. BMO Capital Markets reduced their price objective on Sun Communities from $145.00 to $138.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Robert W. Baird cut Sun Communities from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Evercore ISI upped their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a research report on Monday, October 21st. Finally, Bank of America cut Sun Communities from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $147.00 to $114.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and a consensus price target of $139.08.

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.