Sun Communities (NYSE:SUI – Get Free Report) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.37 to $1.45 for the period, compared to the consensus EPS estimate of $1.57. Sun Communities also updated its FY 2024 guidance to 6.760-6.840 EPS.
Wall Street Analysts Forecast Growth
SUI has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target for the company. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Truist Financial boosted their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Royal Bank of Canada cut their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.82.
Get Our Latest Analysis on SUI
Sun Communities Stock Up 1.7 %
Sun Communities (NYSE:SUI – Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.26%. Sun Communities’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 EPS. On average, equities research analysts forecast that Sun Communities will post 7.11 EPS for the current year.
Sun Communities Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio is currently 202.15%.
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.
Featured Articles
- Five stocks we like better than Sun Communities
- What is the Euro STOXX 50 Index?
- Airbnb Stock Attracts Attention With Strong Cash Flow Strategy
- What Does Downgrade Mean in Investing?
- MarketBeat Week in Review – 11/4 – 11/8
- What is a Dividend King?
- Trump’s Return: Which Sectors Will Benefit Most?
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.