Sun Communities (SUI) Updates FY 2019 Earnings Guidance

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Sun Communities (NYSE:SUI) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.76-4.86 for the period. Sun Communities also updated its Q1 2019 guidance to $1.10-1.13 EPS.

Shares of Sun Communities stock traded down $0.62 during trading on Wednesday, hitting $114.03. 420,500 shares of the company’s stock were exchanged, compared to its average volume of 317,979. Sun Communities has a 52-week low of $84.66 and a 52-week high of $121.28. The stock has a market cap of $9.88 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 3.64 and a beta of 0.28.

SUI has been the subject of several recent research reports. Citigroup raised their target price on shares of Sun Communities from $100.00 to $105.00 and gave the stock a hold rating in a report on Monday, October 29th. Zacks Investment Research cut shares of Sun Communities from a hold rating to a sell rating in a report on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $108.50.

In other Sun Communities news, COO John Bandini Mclaren sold 2,400 shares of Sun Communities stock in a transaction on Friday, November 30th. The shares were sold at an average price of $103.42, for a total value of $248,208.00. Following the completion of the transaction, the chief operating officer now owns 152,624 shares of the company’s stock, valued at $15,784,374.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.69% of the stock is currently owned by insiders.

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Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.

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