Sun Communities (NYSE:SUI) Updates Q4 Earnings Guidance

Sun Communities (NYSE:SUI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.37 to $1.45 for the period, compared to the consensus earnings per share estimate of $1.57.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SUI. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Royal Bank of Canada increased their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. UBS Group raised Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Truist Financial raised their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Finally, Robert W. Baird raised their target price on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.91.

Sun Communities Stock Performance

Shares of NYSE SUI traded down $1.46 during trading hours on Wednesday, reaching $131.76. The stock had a trading volume of 1,271,621 shares, compared to its average volume of 806,603. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 154.88, a PEG ratio of 0.95 and a beta of 0.91. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The firm has a 50-day moving average of $135.73 and a 200-day moving average of $126.74.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.85%. Sun Communities’s payout ratio is 437.21%.

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.