Sumitomo Mitsui Trust Holdings Inc. Has $78.05 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Sun Communities, Inc. (NYSE:SUI) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,202 shares of the real estate investment trust’s stock after selling 5,597 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.48% of Sun Communities worth $78,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SUI. JPMorgan Chase & Co. increased its position in Sun Communities by 185.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,582,446 shares of the real estate investment trust’s stock valued at $392,402,000 after acquiring an additional 1,677,154 shares in the last quarter. BlackRock Inc. increased its position in Sun Communities by 13.0% in the 4th quarter. BlackRock Inc. now owns 9,473,372 shares of the real estate investment trust’s stock valued at $1,439,482,000 after acquiring an additional 1,086,658 shares in the last quarter. Norges Bank bought a new position in shares of Sun Communities in the 4th quarter valued at about $152,726,000. Long Pond Capital LP bought a new position in shares of Sun Communities in the 4th quarter valued at about $135,532,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Sun Communities by 49.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,051,529 shares of the real estate investment trust’s stock valued at $311,729,000 after purchasing an additional 678,587 shares during the last quarter. Hedge funds and other institutional investors own 85.95% of the company’s stock.

Shares of NYSE:SUI opened at $163.82 on Wednesday. Sun Communities, Inc. has a 52 week low of $118.81 and a 52 week high of $168.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.94 and a current ratio of 2.94. The company has a market capitalization of $18.32 billion, a PE ratio of 103.68, a PEG ratio of 3.29 and a beta of 0.53. The company has a 50 day moving average price of $157.69 and a two-hundred day moving average price of $148.65.

Sun Communities (NYSE:SUI) last issued its earnings results on Sunday, April 25th. The real estate investment trust reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Sun Communities had a net margin of 11.76% and a return on equity of 4.26%. The firm had revenue of $442.00 million during the quarter, compared to the consensus estimate of $315.24 million. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was up 42.4% on a year-over-year basis. On average, sell-side analysts forecast that Sun Communities, Inc. will post 5.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.03%. The ex-dividend date was Tuesday, March 30th. This is an increase from Sun Communities’s previous quarterly dividend of $0.79. Sun Communities’s dividend payout ratio is presently 67.48%.

In other news, Director Stephanie W. Bergeron sold 2,800 shares of the stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $165.60, for a total transaction of $463,680.00. Following the completion of the sale, the director now owns 22,400 shares of the company’s stock, valued at $3,709,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.72% of the stock is owned by corporate insiders.

SUI has been the topic of several recent research reports. Royal Bank of Canada raised their target price on shares of Sun Communities from $162.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, May 4th. BMO Capital Markets initiated coverage on shares of Sun Communities in a research note on Sunday, March 7th. They issued a “buy” rating and a $165.00 target price on the stock. Robert W. Baird initiated coverage on shares of Sun Communities in a research note on Wednesday, January 20th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Saturday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sun Communities presently has a consensus rating of “Buy” and an average price target of $165.67.

Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.

Further Reading: Capital Gains Distribution

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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