KLP Kapitalforvaltning AS Acquires 800 Shares of Sun Communities, Inc. $SUI

KLP Kapitalforvaltning AS grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 1.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,500 shares of the real estate investment trust’s stock after purchasing an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Sun Communities were worth $5,541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SUI. Park Avenue Securities LLC raised its holdings in shares of Sun Communities by 15.2% in the 1st quarter. Park Avenue Securities LLC now owns 5,542 shares of the real estate investment trust’s stock valued at $713,000 after purchasing an additional 731 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Sun Communities by 4.2% in the 1st quarter. Yousif Capital Management LLC now owns 6,575 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 263 shares during the period. GAMMA Investing LLC raised its holdings in shares of Sun Communities by 23.8% in the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 201 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sun Communities by 1.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,162 shares of the real estate investment trust’s stock valued at $1,693,000 after purchasing an additional 184 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Sun Communities in the 1st quarter valued at about $29,000. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a report on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Communities in a report on Wednesday. Royal Bank Of Canada dropped their target price on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the company a “hold” rating in a report on Wednesday, June 25th. Finally, Colliers Securities assumed coverage on shares of Sun Communities in a research note on Friday, June 13th. They issued a “neutral” rating and a $130.00 price target on the stock. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $137.86.

Sun Communities Stock Up 0.5%

Shares of SUI opened at $123.34 on Friday. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $140.49. The firm has a market cap of $15.44 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 6.33 and a beta of 0.86. The firm’s 50-day simple moving average is $127.28 and its 200 day simple moving average is $125.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The business had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same quarter in the prior year, the business earned $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 30th. Sun Communities’s dividend payout ratio is presently 40.70%.

Sun Communities 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.