Sun Communities (NYSE:SUI) Issues Q4 2024 Earnings Guidance

Sun Communities (NYSE:SUI) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.370-1.450 for the period, compared to the consensus EPS estimate of 1.560. The company issued revenue guidance of -. Sun Communities also updated its FY 2024 guidance to 6.760-6.840 EPS.

Sun Communities Stock Up 1.7 %

Shares of SUI traded up $2.10 during midday trading on Friday, reaching $125.32. The stock had a trading volume of 1,432,647 shares, compared to its average volume of 828,355. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The company’s fifty day simple moving average is $135.32 and its two-hundred day simple moving average is $126.80. The company has a market cap of $15.62 billion, a price-to-earnings 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 current ratio of 1.42 and a quick ratio of 1.42.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.26%. The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same quarter in the previous year, the business 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 expect that Sun Communities will post 7.11 earnings per share for the current year.

Sun Communities Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Evercore ISI increased their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company raised their price objective 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. Royal Bank of Canada lowered their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, BMO Capital Markets lowered their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $141.82.

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.