First Hawaiian Bank Raises Stake in Sun Communities, Inc. $SUI

by · The Markets Daily

First Hawaiian Bank boosted its position in Sun Communities, Inc. (NYSE:SUI – Free Report) by 25.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 28,125 shares of the real estate investment trust’s stock after purchasing an additional 5,685 shares during the period. First Hawaiian Bank’s holdings in Sun Communities were worth $3,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SUI. Dodge & Cox boosted its position in Sun Communities by 42.1% in the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock valued at $1,755,656,000 after buying an additional 4,041,802 shares during the last quarter. Nuveen LLC purchased a new stake in Sun Communities in the first quarter valued at approximately $112,395,000. Deutsche Bank AG boosted its position in Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock valued at $207,294,000 after buying an additional 820,422 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Sun Communities by 10.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after purchasing an additional 568,514 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Sun Communities in the 1st quarter worth approximately $67,256,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 2.3%

Shares of SUI stock opened at $131.32 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 6.63 and a beta of 0.86. The stock has a 50 day simple moving average of $125.76 and a 200-day simple moving average of $125.88. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI – Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.During the same period in the prior year, the company posted $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Sun Communities’s dividend payout ratio is presently 40.70%.

Analysts Set New Price Targets

SUI has been the topic of several recent research reports. Colliers Securities initiated coverage on Sun Communities in a research report on Friday, June 13th. They issued a “neutral” rating and a $130.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research report on Friday, August 1st. JMP Securities restated a “market outperform” rating and issued a $140.00 price objective on shares of Sun Communities in a research report on Tuesday, May 20th. Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company lowered their price objective on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $138.71.

Get Our Latest Analysis on SUI

Sun Communities Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI – Free Report).