Deutsche Bank AG Has $97.27 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Deutsche Bank AG grew its position in Sun Communities, Inc. (NYSE:SUI) by 398.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 791,003 shares of the real estate investment trust’s stock after acquiring an additional 632,331 shares during the period. Deutsche Bank AG owned 0.62% of Sun Communities worth $97,270,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SUI. Aster Capital Management DIFC Ltd grew its holdings in shares of Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 124 shares during the period. CKW Financial Group grew its holdings in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 135 shares during the last quarter. Natixis acquired a new position in Sun Communities in the 4th quarter valued at approximately $90,000. Finally, Quadrant Capital Group LLC increased its position in Sun Communities by 17.2% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Trading Up 1.6%

SUI opened at $125.53 on Monday. The company has a fifty day moving average price of $126.09 and a two-hundred day moving average price of $126.27. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The company has a market cap of $16.02 billion, a P/E ratio of 67.49 and a beta of 0.86. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, beating the consensus estimate of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. During the same period last year, the business posted $1.19 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio is presently 606.45%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price objective on the stock. Robert W. Baird lowered their price objective on Sun Communities from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Thursday. Royal Bank of Canada cut their price objective on Sun Communities from $154.00 to $147.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Truist Financial decreased their target price on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 price target (down previously from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $136.90.

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.