Sun Communities (NYSE:SUI) Announces Earnings Results

Sun Communities (NYSE:SUI) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02, Zacks reports. The company had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities updated its Q1 2025 guidance to 1.140-1.220 EPS and its FY 2025 guidance to 6.820-7.060 EPS.

Sun Communities Stock Up 1.3 %

NYSE SUI opened at $135.66 on Friday. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 72.94 and a beta of 0.90. The stock’s 50 day moving average is $125.56 and its two-hundred day moving average is $129.58. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is 202.15%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Finally, UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.55.

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.