Sun Communities (SUI) Updates Q1 Earnings Guidance

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Sun Communities (NYSE:SUI) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.10-1.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.18. Sun Communities also updated its FY 2019 guidance to $4.76-4.86 EPS.

Shares of SUI stock traded down $0.62 during mid-day trading on Wednesday, reaching $114.03. The stock had a trading volume of 420,500 shares, compared to its average volume of 317,979. Sun Communities has a 12-month low of $84.66 and a 12-month high of $121.28. The stock has a market cap of $9.88 billion, a P/E ratio of 27.42, a P/E/G ratio of 3.64 and a beta of 0.28.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.03. Sun Communities had a return on equity of 3.95% and a net margin of 10.16%. The business had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $287.90 million. During the same quarter last year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts forecast that Sun Communities will post 4.59 EPS for the current year.

A number of research analysts have recently weighed in on SUI shares. Citigroup raised their price target on Sun Communities from $100.00 to $105.00 and gave the company a hold rating in a research report on Monday, October 29th. Zacks Investment Research upgraded Sun Communities from a sell rating to a hold rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $108.50.

In related news, COO John Bandini Mclaren sold 2,400 shares of Sun Communities stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $103.42, for a total transaction of $248,208.00. Following the completion of the sale, the chief operating officer now owns 152,624 shares in the company, valued at approximately $15,784,374.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.69% of the company’s stock.

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About Sun Communities

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.

See Also: Treasury Bonds

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