First Hawaiian Bank Has $2.76 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

First Hawaiian Bank increased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 29.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,440 shares of the real estate investment trust’s stock after buying an additional 5,100 shares during the period. First Hawaiian Bank’s holdings in Sun Communities were worth $2,759,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SUI. Assetmark Inc. lifted its position in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group bought a new position in Sun Communities in the 3rd quarter worth approximately $41,000. Quest Partners LLC lifted its holdings in Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Sun Communities in the 3rd quarter valued at $60,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

SUI has been the topic of several recent research reports. BMO Capital Markets decreased their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Truist Financial reduced their target price on shares of Sun Communities from $138.00 to $131.00 and set a “hold” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Sun Communities has a consensus rating of “Hold” and an average price target of $135.69.

Sun Communities Price Performance

SUI stock opened at $122.56 on Thursday. The stock has a 50-day moving average price of $125.38 and a two-hundred day moving average price of $129.03. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The stock has a market cap of $15.61 billion, a PE ratio of 65.89, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. 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 posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same quarter in the previous year, the business posted $2.57 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 202.15%.

Sun Communities 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.