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

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SUI. Wells Fargo & Company raised their price objective on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Truist Financial lifted their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. UBS Group upgraded Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $126.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sun Communities currently has a consensus rating of “Hold” and an average target price of $141.82.

Sun Communities Stock Performance

NYSE SUI traded up $2.10 during trading hours on Friday, hitting $125.32. The company’s stock had a trading volume of 1,432,647 shares, compared to its average volume of 828,355. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83. The company’s 50 day simple moving average is $135.32 and its two-hundred day simple moving average is $126.80. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $15.62 billion, a P/E ratio of 67.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a return on equity of 3.26% and a net margin of 7.46%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 earnings per share. As a group, sell-side analysts expect that Sun Communities will post 7.11 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis 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.