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 EPS guidance of 1.370-1.450 for the period, compared to the consensus EPS estimate of 1.560. The company issued revenue guidance of -. Sun Communities also updated its FY 2024 guidance to 6.760-6.840 EPS.

Sun Communities Price Performance

Shares of NYSE SUI traded up $2.10 during midday trading on Friday, hitting $125.32. 1,432,647 shares of the company’s stock were exchanged, compared to its average volume of 828,355. 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 business’s fifty day moving average price is $135.32 and its two-hundred day moving average price is $126.80. The company has a market cap of $15.62 billion, a price-to-earnings ratio of 67.38, a PEG ratio of 0.96 and a beta of 0.91. Sun Communities has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a return on equity of 3.26% and a net margin of 7.46%. Sun Communities’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 EPS. As a group, research analysts forecast that Sun Communities will post 7.11 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of research reports. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday. Evercore ISI lifted their price target on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Royal Bank of Canada cut their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets cut their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sun Communities has an average rating of “Hold” and an average price target of $141.82.

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.