Sun Communities (SUI) Projected to Post Quarterly Earnings on Wednesday

Sun Communities (NYSE:SUI) is anticipated to issue its quarterly earnings data after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $1.39 per share and revenue of $724.68 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Sun Communities Stock Performance

Shares of SUI stock opened at $125.84 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $124.56 and a 200 day moving average price of $129.46. The company has a market cap of $16.03 billion, a P/E ratio of 67.66 and a beta of 0.90. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.99%. Sun Communities’s payout ratio is currently 202.15%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group cut 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. BMO Capital Markets reduced their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Jefferies Financial Group reduced their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.55.

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.