Sun Communities (SUI) to Release Quarterly Earnings on Wednesday

Sun Communities (NYSE:SUI) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 6th. Analysts expect Sun Communities to post earnings of $2.52 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Sun Communities Trading Down 0.5 %

Shares of SUI stock opened at $131.25 on Wednesday. Sun Communities has a 12-month low of $107.31 and a 12-month high of $147.83. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $135.82 and a 200-day moving average of $126.27. The firm has a market cap of $16.36 billion, a P/E ratio of 113.15, a PEG ratio of 0.98 and a beta of 0.91.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is currently 324.14%.

Insider Activity

In related news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the sale, the chief executive officer now owns 63,462 shares in the company, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SUI shares. UBS Group upgraded shares of Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Truist Financial lifted their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Evercore ISI boosted their target price on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, Jefferies Financial Group started coverage on Sun Communities in a research report on Thursday, October 17th. They issued a “buy” rating and a $160.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of “Moderate Buy” and an average price target of $143.91.

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.