Sun Communities (SUI) Set to Announce Quarterly Earnings on Monday

Sun Communities (NYSE:SUI) will be issuing its quarterly earnings data after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $1.16 per share for the quarter. Individual interested in participating in 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 12-month low of $102.74 and a 12-month high of $141.52. The stock has a market capitalization of $14.84 billion, a P/E ratio of 104.46, a P/E/G ratio of 1.08 and a beta of 0.80. The firm’s 50-day moving average is $127.11 and its two-hundred day moving average is $125.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.94 per share. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

Insider Transactions at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a filing with the SEC, which is available at this link. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Clunet R. Lewis sold 500 shares of Sun Communities 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 transaction, the director now directly owns 28,400 shares in the company, valued at $3,724,092. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock worth $912,460 in the last three months. Company insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Barclays decreased their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target on the stock. BMO Capital Markets decreased their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Finally, Compass Point raised their price target on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.17.

About Sun Communities

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.