Sun Communities (NYSE:SUI) Releases Earnings Results, Beats Estimates By $0.05 EPS

Sun Communities (NYSE:SUI) issued its earnings results on Monday. The real estate investment trust reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05, Briefing.com reports. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The business had revenue of $558.20 million for the quarter, compared to analyst estimates of $563.59 million. During the same period last year, the company posted $2.28 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year.

Sun Communities Trading Up 0.9%

SUI stock opened at $113.28 on Friday. Sun Communities has a 52-week low of $109.77 and a 52-week high of $137.85. The company has a quick ratio of 2.52, a current ratio of 4.68 and a debt-to-equity ratio of 0.69. The firm has a market cap of $13.52 billion, a P/E ratio of 16.06, a PEG ratio of 4.81 and a beta of 0.76. The company’s 50-day simple moving average is $116.16 and its 200-day simple moving average is $123.47.

Sun Communities Announces Dividend

The company also recently declared 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. This represents a $4.48 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is currently -72.73%.

Wall Street Analyst Weigh In

SUI has been the subject of several research reports. Bank of America upgraded Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price for the company in a report on Thursday, August 27th. Barclays cut their price target on Sun Communities from $147.00 to $143.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. UBS Group restated a “neutral” rating on shares of Sun Communities in a report on Tuesday. Mizuho lowered their price objective on shares of Sun Communities from $137.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 21st. Finally, Evercore reiterated an “outperform” rating on shares of Sun Communities in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.05.

Sun Communities Company Profile

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.