Swedbank AB Has $21.94 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Swedbank AB lifted its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 52.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,368 shares of the real estate investment trust's stock after purchasing an additional 56,132 shares during the period. Swedbank AB owned 0.13% of Sun Communities worth $21,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SUI. Cerity Partners LLC raised its position in shares of Sun Communities by 56.4% in the third quarter. Cerity Partners LLC now owns 31,346 shares of the real estate investment trust's stock valued at $4,236,000 after purchasing an additional 11,305 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Sun Communities by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust's stock valued at $145,359,000 after buying an additional 3,254 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Sun Communities by 22.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,677 shares of the real estate investment trust's stock valued at $1,848,000 after acquiring an additional 2,521 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Sun Communities by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust's stock worth $585,000 after acquiring an additional 125 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Sun Communities during the third quarter worth approximately $390,000. 99.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on SUI shares. Royal Bank of Canada reduced their price target on Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. BMO Capital Markets decreased their price target on shares of Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Evercore ISI lifted 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 note on Monday, October 21st. StockNews.com lowered shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Finally, Bank of America downgraded shares of Sun Communities from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Sun Communities currently has a consensus rating of "Hold" and an average price target of $139.08.

Sun Communities Price Performance

Shares of SUI stock traded down $1.85 on Tuesday, reaching $127.03. The company had a trading volume of 1,069,596 shares, compared to its average volume of 830,527. The stock has a market capitalization of $16.18 billion, a PE ratio of 69.34, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business's 50-day moving average is $132.17 and its 200 day moving average is $127.65. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 EPS. Equities research analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Monday, September 30th. Sun Communities's 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.