Sun Communities (SUI) to Release Quarterly Earnings on Wednesday

Sun Communities (NYSE:SUI) is projected to announce its earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $1.39 per share and revenue of $724.68 million for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Sun Communities Price Performance

NYSE:SUI opened at $134.23 on Tuesday. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 72.17 and a beta of 0.90. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83. The business has a 50 day simple moving average of $124.79 and a 200-day simple moving average of $129.49. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.80%. Sun Communities’s payout ratio is 202.15%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SUI. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $134.55.

About Sun Communities

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.