Sun Communities Inc (SUI) Announces Quarterly Earnings Results
Sun Communities Inc (NYSE:SUI) issued its quarterly earnings data on Monday. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.79, Bloomberg Earnings reports. Sun Communities had a return on equity of 3.59% and a net margin of 10.80%. The firm had revenue of $268.20 million during the quarter, compared to the consensus estimate of $239.45 million. During the same quarter in the previous year, the company posted $1.13 EPS. Sun Communities updated its Q4 guidance to $0.96-0.99 EPS.
Sun Communities (NYSE:SUI) traded up 1.27% on Tuesday, reaching $89.91. The company’s stock had a trading volume of 695,753 shares. The firm’s 50-day moving average price is $88.17 and its 200-day moving average price is $87.44. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 128.63 and a beta of 0.30. Sun Communities has a 52-week low of $69.90 and a 52-week high of $91.87.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio (DPR) is presently 382.86%.
Several equities analysts have issued reports on SUI shares. BidaskClub downgraded Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Royal Bank Of Canada reiterated a “buy” rating and issued a $92.00 price objective on shares of Sun Communities in a research report on Sunday, July 16th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Robert W. Baird reissued a “buy” rating and issued a $95.00 target price on shares of Sun Communities in a research note on Friday, September 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $96.00 target price on shares of Sun Communities in a research note on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $91.71.
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In other Sun Communities news, Director Clunet R. Lewis sold 5,292 shares of Sun Communities stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $86.20, for a total transaction of $456,170.40. Following the transaction, the director now owns 18,800 shares of the company’s stock, valued at approximately $1,620,560. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Bandini Mclaren sold 5,400 shares of Sun Communities 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 transaction, the chief operating officer now directly owns 153,159 shares in the company, valued at approximately $13,543,850.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,984 shares of company stock valued at $1,301,796. 4.15% of the stock is currently owned by company insiders.
Sun Communities Company Profile
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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