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

Sun Communities (NYSE:SUI) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.370-1.450 for the period, compared to the consensus estimate of 1.560. The company issued revenue guidance of -. Sun Communities also updated its FY 2024 guidance to 6.760-6.840 EPS.

Analyst Upgrades and Downgrades

SUI has been the subject of several analyst reports. Robert W. Baird raised their target price on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company lifted their price objective on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Truist Financial increased their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sun Communities has a consensus rating of “Moderate Buy” and an average target price of $143.91.

Sun Communities Stock Down 1.0 %

NYSE SUI traded down $1.39 on Wednesday, hitting $131.83. 1,407,896 shares of the company were exchanged, compared to its average volume of 807,051. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The company has a market cap of $16.44 billion, a PE ratio of 153.29, a PEG ratio of 0.95 and a beta of 0.91. The stock has a fifty day moving average of $135.71 and a 200-day moving average of $126.78. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83.

Sun Communities Dividend Announcement

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

Sun Communities Company Profile

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.