Sun Communities (SUI) to Release Quarterly Earnings on Tuesday

Sun Communities (NYSE:SUI) is expected to be posting its quarterly earnings results before the market opens on Tuesday, February 18th. Analysts expect Sun Communities to post earnings of $0.23 per share and revenue of $724.68 million for the quarter.

Sun Communities Trading Up 0.3 %

Shares of NYSE SUI opened at $125.50 on Tuesday. The business has a fifty day simple moving average of $124.35 and a 200-day simple moving average of $129.66. The company has a market cap of $15.99 billion, a price-to-earnings ratio of 67.47 and a beta of 0.90. 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 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s payout ratio is 202.15%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SUI shares. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.