Nordea Investment Management AB Acquires 720 Shares of Sun Communities, Inc. $SUI

Nordea Investment Management AB boosted its position in Sun Communities, Inc. (NYSE:SUI) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,710 shares of the real estate investment trust’s stock after buying an additional 720 shares during the period. Nordea Investment Management AB’s holdings in Sun Communities were worth $1,358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SUI. GAMMA Investing LLC lifted its holdings in Sun Communities by 23.8% in the first quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 201 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Sun Communities by 1.4% in the first 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 buying an additional 184 shares during the period. Blue Trust Inc. lifted its holdings in Sun Communities by 510.4% in the first quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 490 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Sun Communities in the first quarter valued at $471,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Sun Communities by 9.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the real estate investment trust’s stock valued at $520,000 after purchasing an additional 365 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE SUI opened at $123.27 on Friday. The company’s 50 day simple moving average is $126.89 and its two-hundred day simple moving average is $125.08. 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 $15.43 billion, a PE ratio of 12.06, a P/E/G ratio of 6.46 and a beta of 0.86. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $140.49.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. The firm had revenue of $623.50 million for the quarter, compared to analysts’ expectations of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same quarter last year, the company posted $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. Analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.04 per share. The ex-dividend date was Tuesday, September 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.4%. Sun Communities’s dividend payout ratio (DPR) is 40.70%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SUI shares. Robert W. Baird upped their price objective 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 research report on Wednesday, October 8th. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Wells Fargo & Company reduced their target price on shares of Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Finally, Truist Financial increased their target price on shares of Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $137.86.

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.