Sun Communities (NYSE:SUI) Issues FY 2024 Earnings Guidance

Sun Communities (NYSE:SUI) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 6.760-6.840 for the period, compared to the consensus EPS estimate of 7.110. The company issued revenue guidance of -. Sun Communities also updated its Q4 guidance to $1.37 to $1.45 EPS.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Evercore ISI upped their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. UBS Group upgraded Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $126.00 in a research report on Thursday. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $141.82.

Sun Communities Trading Up 1.7 %

NYSE:SUI traded up $2.10 on Friday, reaching $125.32. The company’s stock had a trading volume of 1,432,647 shares, compared to its average volume of 828,355. The firm has a market cap of $15.62 billion, a PE ratio of 67.38, a PEG ratio of 0.96 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50-day moving average price is $135.32 and its two-hundred day moving average price is $126.80. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.26% and a net margin of 7.46%. The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period in the previous year, the company posted $2.57 earnings per share. Sun Communities’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Sun Communities will post 7.11 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

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

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.