KBC Group NV Has $14.86 Million Position in Sun Communities, Inc. (NYSE:SUI)

KBC Group NV boosted its stake in Sun Communities, Inc. (NYSE:SUI) by 303.3% in the third quarter, HoldingsChannel reports. The firm owned 109,939 shares of the real estate investment trust’s stock after buying an additional 82,682 shares during the period. KBC Group NV’s holdings in Sun Communities were worth $14,858,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SUI. Victory Capital Management Inc. boosted its position 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 worth $10,434,000 after purchasing an additional 5,008 shares in the last quarter. Entropy Technologies LP boosted its holdings in Sun Communities by 44.4% in the third quarter. Entropy Technologies LP now owns 12,685 shares of the real estate investment trust’s stock worth $1,714,000 after acquiring an additional 3,903 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Sun Communities by 173.7% in the third quarter. Los Angeles Capital Management LLC now owns 150,174 shares of the real estate investment trust’s stock valued at $20,296,000 after acquiring an additional 95,303 shares during the period. Assetmark Inc. increased its holdings 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 valued at $27,000 after acquiring an additional 190 shares in the last quarter. Finally, Harvest Portfolios Group Inc. raised its position in shares of Sun Communities by 16.5% during the third quarter. Harvest Portfolios Group Inc. now owns 32,806 shares of the real estate investment trust’s stock worth $4,434,000 after purchasing an additional 4,639 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SUI. BMO Capital Markets reduced their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Evercore ISI boosted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price target for the company from $155.00 to $134.00 in a research report on Thursday. Royal Bank of Canada decreased their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Performance

Shares of SUI stock opened at $125.16 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 66.41, a P/E/G ratio of 0.53 and a beta of 0.91. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The firm’s 50-day simple moving average is $134.46 and its two-hundred day simple moving average is $126.96.

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 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 company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the firm posted $2.57 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sun Communities, Inc. will post 6.75 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio is currently 202.15%.

About Sun Communities

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.