Sun Communities (NYSE:SUI) Releases Q4 Earnings Guidance

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

Sun Communities Price Performance

NYSE:SUI traded down $1.46 during trading hours on Wednesday, reaching $131.76. 1,271,621 shares of the company traded hands, compared to its average volume of 806,603. The firm’s 50-day moving average is $135.73 and its 200-day moving average is $126.74. The stock has a market cap of $16.43 billion, a P/E ratio of 154.88, a P/E/G ratio of 0.95 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 has a 1-year low of $110.98 and a 1-year high of $147.83.

Sun Communities Dividend Announcement

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 $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.85%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 437.21%.

Wall Street Analyst Weigh In

Several research analysts have commented on SUI shares. Robert W. Baird raised their price objective on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Truist Financial lifted their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Jefferies Financial Group initiated coverage on Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target for the company. Finally, Evercore ISI lifted their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.91.

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.