Sun Communities, Inc. (NYSE:SUI) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 195,520 shares of the real estate investment trust’s stock after buying an additional 4,939 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Sun Communities were worth $24,043,000 as of its most recent SEC filing.

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

Sun Communities Trading Up 1.5 %

Sun Communities stock 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 quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of 69.91 and a beta of 0.90. The firm has a 50-day moving average price of $128.88 and a two-hundred day moving average price of $129.11.

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

Sun Communities Dividend Announcement

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

Analyst Ratings Changes

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

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.