Daiwa Securities Group Inc. Boosts Position in Sun Communities, Inc. (NYSE:SUI)

Daiwa Securities Group Inc. grew its stake in Sun Communities, Inc. (NYSE:SUI) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,344,020 shares of the real estate investment trust’s stock after buying an additional 442,557 shares during the period. Sun Communities accounts for 1.3% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 22nd largest holding. Daiwa Securities Group Inc. owned about 1.84% of Sun Communities worth $288,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. FMR LLC grew its position 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 acquiring an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sun Communities by 1,061.4% in 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 valued at $178,868,000 after acquiring an additional 1,209,522 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after purchasing an additional 355,427 shares during the period. Adelante Capital Management LLC boosted its stake in shares of Sun Communities by 168.7% in the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock valued at $75,566,000 after buying an additional 351,017 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of Sun Communities by 343.5% in the fourth quarter. abrdn plc now owns 277,988 shares of the real estate investment trust’s stock valued at $34,098,000 after purchasing an additional 215,314 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SUI. Jefferies Financial Group lowered their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company lowered 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. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and cut their price target for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $134.55.

Sun Communities Stock Performance

Shares of SUI opened at $133.60 on Monday. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 71.83 and a beta of 0.90. 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, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company’s 50 day simple moving average is $126.73 and its 200 day simple moving average is $129.67.

Sun Communities (NYSE:SUI) last posted 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. The business had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, sell-side analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

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.