Mitsubishi UFJ Trust & Banking Corp Has $14.39 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 29.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,999 shares of the real estate investment trust’s stock after selling 48,178 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of Sun Communities worth $14,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in shares of Sun Communities during the 3rd quarter valued at about $41,000. Smartleaf Asset Management LLC lifted its stake in Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group boosted its holdings in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 135 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Sun Communities in the 3rd quarter valued at approximately $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 84 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SUI. Wells Fargo & Company lowered their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group dropped their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Truist Financial upped their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $136.60.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $130.04 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $128.88 and a 200 day simple moving average of $129.19. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The firm has a market cap of $16.59 billion, a P/E ratio of 69.91 and a beta of 0.90.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 2.89%. Sun Communities’s dividend payout ratio is currently 508.11%.

Sun Communities Company 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.