Legal & General Group Plc Buys 65,053 Shares of Sun Communities, Inc. $SUI

Legal & General Group Plc grew its stake in Sun Communities, Inc. (NYSE:SUI) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,080,585 shares of the real estate investment trust’s stock after purchasing an additional 65,053 shares during the quarter. Legal & General Group Plc’s holdings in Sun Communities were worth $133,895,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Sun Communities by 1,226.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Sun Communities in the 3rd quarter worth $27,000. Fulcrum Asset Management LLP bought a new position in Sun Communities in the 3rd quarter worth $27,000. Global X Japan Co. Ltd. purchased a new stake in Sun Communities in the fourth quarter worth $33,000. Finally, Assetmark Inc. grew its stake in Sun Communities by 55.7% in the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 97 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Clunet R. Lewis sold 3,200 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $136.15, for a total transaction of $435,680.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the sale, the executive vice president directly owned 9,998 shares in the company, valued at $1,244,051.14. This trade represents a 70.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,750 shares of company stock worth $3,907,731 over the last three months. 1.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Zelman & Associates assumed coverage on Sun Communities in a research note on Monday, March 16th. They issued an “outperform” rating and a $127.75 price target on the stock. Weiss Ratings cut Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Colliers Securities raised Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Sun Communities in a research note on Thursday, May 14th. Finally, Truist Financial reduced their price target on Sun Communities from $147.00 to $141.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.84.

Sun Communities Price Performance

Shares of SUI stock opened at $125.10 on Friday. Sun Communities, Inc. has a twelve month low of $115.53 and a twelve month high of $137.85. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 4.11 and a beta of 0.82. The business’s fifty day moving average is $127.20 and its 200 day moving average is $127.58. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60.

Sun Communities (NYSE:SUI) last released its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($1.38). Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The company had revenue of $500.50 million during the quarter, compared to analysts’ expectations of $472.40 million. During the same period in the prior year, the company posted $1.26 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. Research analysts expect that Sun Communities, Inc. will post 6.92 EPS for the current fiscal year.

Sun Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $1.12 per share. This is a positive change from Sun Communities’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $4.48 annualized dividend and a yield of 3.6%. Sun Communities’s payout ratio is currently 40.69%.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.