Sun Communities (NYSE:SUI) Announces Earnings Results, Misses Expectations By $0.25 EPS

Key Points

• Sun Communities reported $1.00 EPS, missing the $1.25 analyst consensus by $0.25. Quarterly revenue was $552.6 million, below estimates of $563.59 million.
• Shares fell 0.3% to $119.84 following the results, while the company reported a negative net margin of 39.03% and a 2.63% return on equity.
• The company maintains a quarterly dividend of $1.12 per share, equivalent to an annualized $4.48 payout and a 3.7% yield. Analysts collectively rate the stock a “Moderate Buy” with a consensus price target of $137.05.

Sun Communities (NYSE:SUI - Get Free Report) announced its earnings results on Monday. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.25), FiscalAI reports. The firm had revenue of $552.60 million for the quarter, compared to analyst estimates of $563.59 million. Sun Communities had a positive return on equity of 2.63% and a negative net margin of 39.03%.

Sun Communities Trading Down 0.3%

Shares of SUI traded down $0.40 during mid-day trading on Monday, reaching $119.84. The company had a trading volume of 1,004,629 shares, compared to its average volume of 1,163,861. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of -16.90, a price-to-earnings-growth ratio of 5.14 and a beta of 0.76. The firm has a fifty day simple moving average of $116.88 and a 200-day simple moving average of $121.20. Sun Communities has a fifty-two week low of $109.77 and a fifty-two week high of $137.85. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Sun Communities's dividend payout ratio (DPR) is currently -63.19%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SUI. Evercore set a $136.00 price objective on Sun Communities in a report on Monday, September 21st. UBS Group dropped their target price on Sun Communities from $133.00 to $117.00 and set a "neutral" rating for the company in a research note on Tuesday, October 6th. Bank of America upgraded Sun Communities from an "underperform" rating to a "neutral" rating and set a $140.00 target price on the stock in a research report on Thursday, August 27th. Mizuho decreased their price target on Sun Communities from $137.00 to $136.00 and set an "outperform" rating on the stock in a research note on Monday, September 21st. Finally, Wall Street Zen lowered Sun Communities from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sun Communities presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.05.

Sun Communities Company Profile

Sun Communities, Inc NYSE: SUI is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.

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