Sun Communities (SUI) Scheduled to Post Earnings on Monday

Sun Communities (NYSE:SUI) will post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Sun Communities to post earnings of $1.16 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Sun Communities Price Performance

Sun Communities stock opened at $119.08 on Friday. Sun Communities has a 52 week low of $102.74 and a 52 week high of $141.52. The company’s 50 day moving average price is $127.11 and its two-hundred day moving average price is $125.26. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $14.84 billion, a P/E ratio of 104.46, a P/E/G ratio of 1.06 and a beta of 0.80.

Sun Communities Increases Dividend

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

Insiders Place Their Bets

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 sale, the director now owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Craig Leupold sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the sale, the director now owns 28,400 shares in the company, valued at approximately $3,724,092. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SUI has been the subject of a number of recent research reports. Compass Point lifted their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Barclays reduced their price objective on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. BMO Capital Markets reduced their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. JMP Securities restated a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a research report on Tuesday, April 23rd. Finally, Truist Financial reduced their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $141.17.

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.