Sun Communities, Inc. (NYSE:SUI) announced a quarterly dividend on Tuesday, December 12th, Wall Street Journal reports. Investors of record on Friday, December 29th will be paid a dividend of 0.67 per share by the real estate investment trust on Tuesday, January 16th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, December 28th.

Sun Communities has increased its dividend payment by an average of 1.0% per year over the last three years. Sun Communities has a payout ratio of 64.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sun Communities to earn $4.55 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 58.9%.

Shares of Sun Communities (NYSE SUI) traded down $0.13 during trading on Tuesday, hitting $95.47. 179,600 shares of the company were exchanged, compared to its average volume of 356,026. The firm has a market capitalization of $7,550.00, a price-to-earnings ratio of 23.32, a P/E/G ratio of 3.65 and a beta of 0.27. Sun Communities has a fifty-two week low of $72.51 and a fifty-two week high of $95.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.79. The business had revenue of $268.20 million during the quarter, compared to analyst estimates of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same quarter last year, the business posted $1.13 earnings per share. research analysts forecast that Sun Communities will post 4.16 EPS for the current year.

A number of equities analysts have issued reports on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Sun Communities in a research note on Monday. ValuEngine cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Evercore ISI raised shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Monday, December 4th. Zacks Investment Research raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $93.00.

In related news, Director Clunet R. Lewis sold 1,292 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $86.52, for a total value of $111,783.84. Following the sale, the director now directly owns 18,800 shares of the company’s stock, valued at approximately $1,626,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clunet R. Lewis sold 5,292 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 18,800 shares in the company, valued at $1,620,560. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,584 shares of company stock worth $1,010,694. 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).

Dividend History for Sun Communities (NYSE:SUI)

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