Sun Communities (SUI) Set to Announce Quarterly Earnings on Monday

Sun Communities (NYSE:SUI) is set to release its earnings data after the market closes on Monday, April 29th. Analysts expect Sun Communities to post earnings of $1.16 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Sun Communities Stock Up 0.1 %

Shares of Sun Communities stock opened at $119.08 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $127.11 and its 200-day simple moving average is $125.26. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 104.46, a PEG ratio of 1.06 and a beta of 0.80. Sun Communities has a twelve month low of $102.74 and a twelve month high of $141.52.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.94 per share. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is presently 329.83%.

Wall Street Analyst Weigh In

SUI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a report on Tuesday, April 23rd. Barclays lowered their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Truist Financial decreased their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. Finally, BMO Capital Markets decreased their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $141.17.

Insider Buying and Selling

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the transaction, the director now directly owns 28,400 shares of the company’s stock, valued at $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock valued at $912,460. Company insiders own 1.89% of the company’s stock.

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.