Sun Communities (NYSE:SUI) Updates Q4 2024 Earnings Guidance

Sun Communities (NYSE:SUI) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.370-1.450 for the period, compared to the consensus EPS estimate of 1.560. The company issued revenue guidance of -. Sun Communities also updated its FY 2024 guidance to 6.760-6.840 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $145.00 to $126.00 in a report on Thursday. Royal Bank of Canada dropped their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, BMO Capital Markets decreased their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.82.

Sun Communities Stock Performance

NYSE:SUI traded up $2.10 during mid-day trading on Friday, reaching $125.32. The stock had a trading volume of 1,432,647 shares, compared to its average volume of 828,355. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 67.38, a PEG ratio of 0.96 and a beta of 0.91. The business has a 50 day simple moving average of $135.32 and a 200 day simple moving average of $126.80. Sun Communities has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.26%. The company had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. During the same period last year, the business posted $2.57 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts expect that Sun Communities will post 7.11 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio is presently 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.