Sun Communities (NYSE:SUI) Issues Q4 Earnings Guidance

Sun Communities (NYSE:SUI) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.37 to $1.45 for the period, compared to the consensus EPS estimate of $1.57. Sun Communities also updated its FY 2024 guidance to 6.760-6.840 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SUI. Evercore ISI raised their price target on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $145.00 to $126.00 in a report on Thursday. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and an average target price of $141.82.

Sun Communities Stock Up 1.8 %

SUI stock traded up $2.18 during midday trading on Friday, hitting $125.40. The company’s stock had a trading volume of 1,432,645 shares, compared to its average volume of 828,355. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities has a 52-week low of $110.98 and a 52-week high of $147.83. The firm has a market capitalization of $15.63 billion, a P/E ratio of 67.42, a PEG ratio of 0.96 and a beta of 0.91. The firm has a 50-day simple moving average of $135.32 and a 200-day simple moving average of $126.80.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) 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.