CKW Financial Group Has $53,000 Position in Sun Communities, Inc. (NYSE:SUI)

CKW Financial Group lifted its stake in Sun Communities, Inc. (NYSE:SUI) by 45.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 435 shares of the real estate investment trust’s stock after buying an additional 135 shares during the period. CKW Financial Group’s holdings in Sun Communities were worth $53,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Aurora Investment Managers LLC. grew its holdings in shares of Sun Communities by 9.7% during the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock worth $3,380,000 after purchasing an additional 2,435 shares in the last quarter. Victory Capital Management Inc. lifted its position in Sun Communities by 6.9% in the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after purchasing an additional 5,008 shares during the period. FMR LLC boosted its stake in Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after buying an additional 1,430,630 shares in the last quarter. KBC Group NV increased its holdings in Sun Communities by 303.3% in the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock valued at $14,858,000 after buying an additional 82,682 shares during the period. Finally, AMG National Trust Bank acquired a new position in shares of Sun Communities in the 3rd quarter valued at $1,690,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. BMO Capital Markets lowered their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $134.08.

Sun Communities Stock Up 1.0 %

Shares of NYSE SUI opened at $127.39 on Monday. 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 company has a market cap of $16.23 billion, a price-to-earnings ratio of 68.49, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The firm’s 50-day simple moving average is $124.52 and its 200 day simple moving average is $129.56.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 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 company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the company earned $2.57 earnings per share. Sun Communities’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts expect that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.95%. Sun Communities’s payout ratio is currently 202.15%.

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.