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

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 29.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 116,999 shares of the real estate investment trust’s stock after selling 48,178 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sun Communities were worth $14,387,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after purchasing an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after buying an additional 1,209,522 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Sun Communities by 23.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after buying an additional 442,557 shares during the period. Adelante Capital Management LLC increased its stake in shares of Sun Communities by 168.7% in the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock valued at $75,566,000 after acquiring an additional 351,017 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Sun Communities by 138.8% in the 4th quarter. Prudential Financial Inc. now owns 501,216 shares of the real estate investment trust’s stock valued at $64,436,000 after acquiring an additional 291,329 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

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

Sun Communities Trading Up 1.5 %

NYSE SUI opened at $130.04 on Friday. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s 50 day moving average price is $128.88 and its two-hundred day moving average price is $129.19. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 69.91 and a beta of 0.90.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, March 31st. Sun Communities’s dividend payout ratio is currently 508.11%.

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.