Sun Communities (NYSE:SUI) Issues Earnings Results

Sun Communities (NYSE:SUI) released its quarterly earnings data on Wednesday. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02, Zacks reports. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. 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 Trading Down 0.8 %

NYSE:SUI traded down $1.13 during mid-day trading on Wednesday, hitting $133.81. 940,330 shares of the company’s stock were exchanged, compared to its average volume of 815,152. 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 has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The company has a 50 day simple moving average of $125.03 and a 200-day simple moving average of $129.52. The firm has a market capitalization of $17.05 billion, a P/E ratio of 71.94 and a beta of 0.90.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 202.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SUI shares. Royal Bank of Canada cut 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 report on Thursday, November 7th. Jefferies Financial Group reduced their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Finally, BMO Capital Markets lowered their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Sun Communities currently has an average rating of “Hold” and an average target price of $134.55.

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.