Sun Communities (NYSE:SUI) Announces Quarterly Earnings Results, Misses Estimates By $0.38 EPS

Sun Communities (NYSE:SUI) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.38), FiscalAI reports. The business had revenue of $515.20 million during the quarter, compared to the consensus estimate of $509.40 million. Sun Communities had a negative return on equity of 4.53% and a net margin of 42.58%.

Sun Communities Stock Performance

Shares of NYSE:SUI traded up $0.30 during trading on Tuesday, hitting $131.46. The stock had a trading volume of 911,103 shares, compared to its average volume of 764,972. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58. Sun Communities has a 12-month low of $109.22 and a 12-month high of $137.77. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 4.31 and a beta of 0.90. The stock has a 50-day simple moving average of $126.06 and a two-hundred day simple moving average of $126.26.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Wednesday, December 31st were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 52.13%.

Insider Buying and Selling at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total transaction of $19,378,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Sun Communities

Several hedge funds have recently added to or reduced their stakes in SUI. Wellington Management Group LLP lifted its holdings in shares of Sun Communities by 1,224.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock valued at $578,668,000 after buying an additional 4,147,015 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Sun Communities by 37,933.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust’s stock valued at $182,663,000 after acquiring an additional 1,470,286 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Sun Communities by 152.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 767,190 shares of the real estate investment trust’s stock worth $95,063,000 after purchasing an additional 463,312 shares during the period. Millennium Management LLC increased its holdings in shares of Sun Communities by 124.4% during the 3rd quarter. Millennium Management LLC now owns 685,324 shares of the real estate investment trust’s stock valued at $88,407,000 after purchasing an additional 379,877 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Sun Communities in the 3rd quarter valued at $42,260,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, January 20th. UBS Group increased their target price on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Wells Fargo & Company lifted their price target on shares of Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Finally, Barclays reaffirmed an “overweight” rating and set a $144.00 price target on shares of Sun Communities in a research report on Tuesday, January 13th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sun Communities currently has an average rating of “Hold” and an average target price of $137.46.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.