Sun Communities (NYSE:SUI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Sun Communities (NYSE:SUI) announced its earnings results on Wednesday. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02, Zacks reports. The business had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities updated its Q1 2025 guidance to 1.140-1.220 EPS and its FY 2025 guidance to 6.820-7.060 EPS.

Sun Communities Trading Up 0.9 %

NYSE:SUI traded up $1.20 during trading hours on Thursday, hitting $135.17. 245,300 shares of the company were exchanged, compared to its average volume of 799,387. The company has a fifty day simple moving average of $125.30 and a 200 day simple moving average of $129.55. Sun Communities has a one year low of $110.98 and a one year high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 72.62 and a beta of 0.90.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SUI. Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Jefferies Financial Group decreased their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price objective on shares of 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 assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.