Sun Communities, Inc. (SUI) Issues Q4 Earnings Guidance
Sun Communities, Inc. (NYSE:SUI) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.96-0.99 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.97.
Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Sun Communities from a hold rating to a sell rating in a research note on Thursday. BMO Capital Markets began coverage on shares of Sun Communities in a report on Monday, October 9th. They issued an outperform rating and a $96.00 target price on the stock. Robert W. Baird reaffirmed a buy rating and issued a $95.00 target price on shares of Sun Communities in a report on Friday, September 8th. Royal Bank Of Canada reaffirmed a buy rating and issued a $92.00 target price on shares of Sun Communities in a report on Sunday, July 16th. Finally, BidaskClub cut shares of Sun Communities from a buy rating to a hold rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $91.71.
Shares of Sun Communities, Inc. (NYSE SUI) traded down 0.74% during mid-day trading on Monday, reaching $88.78. 230,927 shares of the company traded hands. Sun Communities, Inc. has a 52-week low of $69.90 and a 52-week high of $91.87. The company has a market capitalization of $7.01 billion, a P/E ratio of 127.01 and a beta of 0.30. The firm’s 50 day moving average price is $88.18 and its 200-day moving average price is $87.24.
Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The business had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $210.58 million. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. Equities analysts predict that Sun Communities, Inc. will post $0.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Thursday, September 28th. Sun Communities’s dividend payout ratio (DPR) is currently 382.86%.
In other news, COO John Bandini Mclaren sold 5,400 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total transaction of $477,522.00. Following the completion of the transaction, the chief operating officer now directly owns 153,159 shares in the company, valued at approximately $13,543,850.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Clunet R. Lewis sold 5,292 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $86.20, for a total value of $456,170.40. Following the transaction, the director now owns 18,800 shares of the company’s stock, valued at $1,620,560. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,984 shares of company stock valued at $1,301,796. Company insiders own 4.15% of the company’s stock.
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About Sun Communities
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).
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