Sun Communities (NYSE:SUI) Releases 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 equities research analysts have commented on SUI shares. BMO Capital Markets decreased their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada decreased their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial increased their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group began coverage on shares of Sun Communities in a research note on Thursday, October 17th. They set a “buy” rating and a $160.00 price target for the company. Finally, UBS Group upgraded shares of Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $141.82.

Sun Communities Stock Performance

SUI traded up $2.10 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. The company’s 50 day simple moving average is $135.32 and its 200-day simple moving average is $126.80. The firm 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 has a 12 month low of $110.98 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.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business 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 firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $2.57 earnings per share. Analysts forecast that Sun Communities will post 7.11 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.00%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.