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

Sun Communities (NYSE:SUI) updated its fourth quarter 2024 earnings guidance on Wednesday. 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.

Sun Communities Stock Down 1.0 %

SUI stock traded down $1.39 during midday trading on Wednesday, reaching $131.83. 1,407,896 shares of the company’s stock traded hands, compared to its average volume of 807,051. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average price is $135.71 and its 200-day moving average price is $126.78. Sun Communities has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 153.29, a P/E/G ratio of 0.95 and a beta of 0.91.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.85%. Sun Communities’s dividend payout ratio is presently 437.21%.

Analysts Set New Price Targets

A number of research firms have issued reports on SUI. Evercore ISI lifted their price target on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Royal Bank of Canada increased their price target on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. UBS Group upgraded shares of Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sun Communities currently has an average rating of “Moderate Buy” and an average target price of $143.91.

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.