Sun Communities, Inc. (SUI) Scheduled to Post Quarterly Earnings on Monday
Sun Communities, Inc. (NYSE:SUI) is scheduled to issue its Q3 2017 quarterly earnings data after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Sun Communities has set its Q3 guidance at $1.11-1.14 EPS.
Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $237.90 million for the quarter, compared to the consensus estimate of $210.58 million. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The firm’s revenue was up 24.7% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. On average, analysts expect Sun Communities to post $4.16 EPS for the current fiscal year and $4.52 EPS for the next fiscal year.
Shares of Sun Communities, Inc. (NYSE SUI) opened at 89.44 on Monday. Sun Communities, Inc. has a 12 month low of $69.90 and a 12 month high of $91.87. The firm’s 50-day moving average price is $88.18 and its 200 day moving average price is $87.24. The company has a market cap of $7.07 billion, a PE ratio of 127.95 and a beta of 0.30.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Thursday, September 28th. Sun Communities’s dividend payout ratio is currently 382.86%.
In related news, EVP Jonathan Colman sold 3,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $85.44, for a total transaction of $256,320.00. Following the completion of the transaction, the executive vice president now owns 33,985 shares in the company, valued at $2,903,678.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 1,292 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $86.52, for a total transaction of $111,783.84. Following the transaction, the director now owns 18,800 shares of the company’s stock, valued at approximately $1,626,576. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,984 shares of company stock valued at $1,301,796. Insiders own 4.15% of the company’s stock.
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A number of analysts have recently weighed in on SUI shares. BidaskClub lowered Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $92.00 price objective on shares of Sun Communities in a research report on Sunday, July 16th. Zacks Investment Research lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Robert W. Baird reaffirmed a “buy” rating and set a $95.00 price objective on shares of Sun Communities in a research report on Friday, September 8th. Finally, BMO Capital Markets initiated coverage on shares of Sun Communities in a research note on Monday, October 9th. They set an “outperform” rating and a $96.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $91.71.
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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