Sun Communities (NYSE:SUI) Releases Earnings Results, Beats Estimates By $1.10 EPS

Sun Communities (NYSE:SUI) issued its quarterly earnings results on Monday. The real estate investment trust reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $1.10, Zacks reports. Sun Communities had a negative net margin of 39.03% and a positive return on equity of 2.63%. The company had revenue of $558.20 million for the quarter, compared to analyst estimates of $563.59 million. During the same quarter in the previous year, the business earned $2.28 earnings per share. Sun Communities’s revenue was up .4% compared to the same quarter last year.

Sun Communities Stock Performance

Shares of SUI opened at $119.84 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70. The firm’s fifty day simple moving average is $116.95 and its two-hundred day simple moving average is $123.73. Sun Communities has a 12 month low of $109.77 and a 12 month high of $137.85. The stock has a market capitalization of $14.60 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 5.14 and a beta of 0.76.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Sun Communities’s dividend payout ratio is -63.19%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Odeon Capital Group set a $135.00 target price on Sun Communities in a research report on Thursday, July 9th. Wells Fargo & Company reduced their price target on Sun Communities from $141.00 to $136.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Mizuho decreased their price target on Sun Communities from $137.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 21st. Bank of America upgraded Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price objective for the company in a research report on Thursday, August 27th. Finally, Wall Street Zen lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sun Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.05.

About Sun Communities

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.