First Hawaiian Bank Purchases 365 Shares of Sun Communities, Inc. (NYSE:SUI)

First Hawaiian Bank grew its stake in Sun Communities, Inc. (NYSE:SUI) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,914 shares of the real estate investment trust’s stock after purchasing an additional 365 shares during the quarter. First Hawaiian Bank’s holdings in Sun Communities were worth $1,795,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SUI. Farmers & Merchants Investments Inc. bought a new position in shares of Sun Communities in the first quarter valued at about $26,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities during the fourth quarter worth about $32,000. CKW Financial Group acquired a new stake in Sun Communities during the first quarter worth about $38,000. Quest Partners LLC acquired a new stake in Sun Communities during the fourth quarter worth about $51,000. Finally, GAMMA Investing LLC acquired a new stake in Sun Communities during the fourth quarter worth about $80,000. 99.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SUI shares. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a research note on Thursday, May 2nd. Royal Bank of Canada upped their target price on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday. Evercore ISI dropped their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $135.10.

Sun Communities Trading Down 4.0 %

Shares of SUI traded down $5.42 during mid-day trading on Monday, hitting $130.19. 859,353 shares of the company’s stock traded hands, compared to its average volume of 746,389. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08. Sun Communities, Inc. has a 1 year low of $102.74 and a 1 year high of $137.45. The firm has a market capitalization of $16.23 billion, a P/E ratio of 113.35, a PEG ratio of 1.00 and a beta of 0.88. The business’s 50-day moving average price is $120.41 and its 200-day moving average price is $123.37.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.94 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.76 annualized dividend and a yield of 2.89%. Sun Communities’s payout ratio is 324.14%.

Sun Communities 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.