KBC Group NV Has $5.13 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

KBC Group NV cut its position in shares of Sun Communities, Inc. (NYSE:SUI) by 62.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,748 shares of the real estate investment trust’s stock after selling 68,191 shares during the period. KBC Group NV’s holdings in Sun Communities were worth $5,134,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Aurora Investment Managers LLC. raised its position in Sun Communities by 9.7% during the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Sun Communities by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after purchasing an additional 5,008 shares in the last quarter. FMR LLC raised its holdings in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after purchasing an additional 1,430,630 shares in the last quarter. AMG National Trust Bank bought a new stake in Sun Communities in the third quarter worth $1,690,000. Finally, Swedbank AB increased its position in Sun Communities by 52.8% during the third quarter. Swedbank AB now owns 162,368 shares of the real estate investment trust’s stock worth $21,944,000 after buying an additional 56,132 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SUI shares. Jefferies Financial Group reduced their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Wells Fargo & Company reduced their price objective 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. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Sun Communities currently has an average rating of “Hold” and an average price target of $134.55.

Sun Communities Stock Up 1.3 %

Shares of SUI opened at $125.87 on Friday. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The firm has a market capitalization of $16.03 billion, a P/E ratio of 67.67, a P/E/G ratio of 0.51 and a beta of 0.89. The company has a 50-day simple moving average of $124.61 and a 200-day simple moving average of $129.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the company earned $2.57 EPS. The company’s revenue was down 4.4% on a year-over-year basis. On average, equities research analysts expect that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.