Sun Communities (NYSE:SUI) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Sun Communities (NYSE:SUI - Get Free Report) announced its earnings results on Monday. The real estate investment trust reported $1.26 EPS for the quarter, topping the consensus estimate of $1.18 by $0.08, Zacks reports. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $470.20 million during the quarter, compared to analysts' expectations of $538.63 million. During the same period last year, the company posted $1.19 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. Sun Communities updated its FY 2025 guidance to 6.430-6.630 EPS and its Q2 2025 guidance to 1.620-1.700 EPS.

Sun Communities Stock Up 1.6 %

NYSE SUI traded up $1.97 during trading on Friday, hitting $125.53. 385,618 shares of the company traded hands, compared to its average volume of 834,109. The company has a market capitalization of $16.02 billion, a P/E ratio of 67.49 and a beta of 0.86. The business has a fifty day simple moving average of $126.09 and a 200 day simple moving average of $126.35. Sun Communities has a 12 month low of $109.22 and a 12 month 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.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.00%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio is 606.45%.

Analyst Ratings Changes

Several brokerages have issued reports on SUI. Robert W. Baird cut their target price on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Thursday. JMP Securities reissued a "market outperform" rating and set a $140.00 price target (down from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Truist Financial decreased their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada dropped their target price on Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $136.90.

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.