Sun Communities (SUI) Set to Announce Quarterly Earnings on Monday

Sun Communities (NYSE:SUI) will announce its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $1.16 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Sun Communities Price Performance

Shares of NYSE SUI opened at $119.08 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities has a twelve month low of $102.74 and a twelve month high of $141.52. The firm has a market cap of $14.84 billion, a P/E ratio of 104.46, a PEG ratio of 1.08 and a beta of 0.80. The company has a 50 day moving average of $127.11 and a 200 day moving average of $125.17.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.76 annualized dividend and a yield of 3.16%. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio is currently 329.83%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays dropped their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Truist Financial dropped their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. Compass Point boosted their price target on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a research note on Tuesday. Finally, BMO Capital Markets decreased their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $141.17.

Insider Activity at Sun Communities

In related news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the transaction, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the transaction, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,000 shares of company stock worth $912,460. Insiders own 1.89% of the company’s stock.

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.