Resona Asset Management Co. Ltd. Has $8.58 Million Position in Sun Communities, Inc. $SUI

Resona Asset Management Co. Ltd. cut its position in shares of Sun Communities, Inc. (NYSE:SUI) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 67,777 shares of the real estate investment trust’s stock after selling 3,295 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Sun Communities were worth $8,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new position in Sun Communities in the 1st quarter valued at approximately $29,000. Ransom Advisory Ltd bought a new stake in shares of Sun Communities during the first quarter valued at approximately $31,000. GKV Capital Management Co. Inc. bought a new stake in shares of Sun Communities during the first quarter valued at approximately $42,000. V Square Quantitative Management LLC acquired a new position in shares of Sun Communities in the second quarter valued at $47,000. Finally, Avalon Trust Co acquired a new position in shares of Sun Communities in the first quarter valued at $65,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Up 1.9%

NYSE SUI opened at $126.62 on Friday. The stock has a market capitalization of $15.66 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $137.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The stock has a fifty day moving average of $126.38 and a 200-day moving average of $125.41.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.10. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The firm had revenue of $697.20 million during the quarter, compared to analysts’ expectations of $713.32 million. During the same period in the previous year, the business posted $2.34 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. On average, equities research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s payout ratio is currently 52.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SUI shares. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a research note on Thursday, September 4th. Evercore ISI lifted their target price on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company dropped their price target 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, Robert W. Baird raised their price target on shares of Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $137.23.

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.