Sun Communities (NYSE:SUI) Posts Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Sun Communities (NYSE:SUI) posted its quarterly earnings data on Monday. The real estate investment trust reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.25), FiscalAI reports. Sun Communities had a positive return on equity of 2.63% and a negative net margin of 39.03%. The business had revenue of $552.60 million during the quarter, compared to analyst estimates of $563.59 million.

Sun Communities Stock Performance

NYSE SUI traded down $0.40 on Monday, reaching $119.84. 1,004,629 shares of the company’s stock traded hands, compared to its average volume of 1,163,861. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of -16.90, a P/E/G ratio of 5.14 and a beta of 0.76. The stock has a 50 day moving average price of $116.88 and a 200-day moving average price of $121.20. Sun Communities has a fifty-two week low of $109.77 and a fifty-two week high of $137.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52.

Sun Communities Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SUI shares. Weiss Ratings raised shares of Sun Communities from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. UBS Group dropped their price target on Sun Communities from $133.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Wells Fargo & Company cut their price objective on Sun Communities from $141.00 to $136.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Odeon Capital Group set a $135.00 price objective on Sun Communities in a report on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their price objective on Sun Communities from $148.00 to $140.00 and set an “outperform” rating for the company in a research note on Tuesday, October 13th. 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 issued a Sell rating to the company. According to MarketBeat, Sun Communities currently has an average rating of “Moderate Buy” and a consensus target price 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.