Sun Communities (NYSE:SUI) Issues Earnings Results, Beats Estimates By $0.02 EPS

Sun Communities (NYSE:SUI) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02, Zacks reports. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities updated its Q1 2025 guidance to 1.140-1.220 EPS and its FY 2025 guidance to 6.820-7.060 EPS.

Sun Communities Price Performance

Shares of NYSE SUI traded down $1.13 during midday trading on Wednesday, hitting $133.81. The stock had a trading volume of 940,330 shares, compared to its average volume of 815,152. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83. The company has a market capitalization of $17.05 billion, a PE ratio of 71.94 and a beta of 0.90. The stock has a 50 day simple moving average of $125.03 and a 200-day simple moving average of $129.52.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.81%. Sun Communities’s payout ratio is currently 202.15%.

Analyst Ratings Changes

A number of brokerages have recently commented on SUI. BMO Capital Markets lowered their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Royal Bank of Canada decreased their target price on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, UBS Group lowered 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, November 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities presently has an average rating of “Hold” and an average price target of $134.55.

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.