Sun Communities, Inc. is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.
Sun Communities Price Performance
Shares of NYSE:SUI traded down $0.19 during trading on Tuesday, hitting $171.10. 423,397 shares of the company were exchanged, compared to its average volume of 626,767. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.24 and a quick ratio of 2.24. Sun Communities has a 1 year low of $148.64 and a 1 year high of $211.79. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 62.76, a PEG ratio of 2.80 and a beta of 0.61. The firm's fifty day moving average price is $160.50 and its 200 day moving average price is $171.15.
Sun Communities (NYSE:SUI - Get Rating) last issued its earnings results on Monday, July 25th. The real estate investment trust reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.19). Sun Communities had a return on equity of 4.42% and a net margin of 12.33%. During the same quarter last year, the business earned $1.80 EPS. On average, sell-side analysts expect that Sun Communities will post 7.24 earnings per share for the current fiscal year.
Sun Communities Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, June 29th. Sun Communities's dividend payout ratio is currently 128.94%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of Sun Communities from $230.00 to $210.00 and set an "overweight" rating for the company in a report on Friday, July 1st. Truist Financial assumed coverage on Sun Communities in a research note on Tuesday, May 10th. They issued a "buy" rating and a $185.00 target price on the stock. JMP Securities cut their price target on Sun Communities from $220.00 to $200.00 and set a "market outperform" rating for the company in a research note on Thursday, July 28th. Evercore ISI set a $194.00 price objective on shares of Sun Communities in a research report on Monday, June 20th. Finally, BMO Capital Markets cut their price objective on shares of Sun Communities from $202.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has an average rating of "Moderate Buy" and an average price target of $203.75.
Insider Transactions at Sun Communities
In other Sun Communities news, EVP Bruce Thelen sold 6,892 shares of the firm's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $165.40, for a total transaction of $1,139,936.80. Following the completion of the transaction, the executive vice president now directly owns 25,120 shares in the company, valued at approximately $4,154,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Bruce Thelen sold 6,892 shares of the company's stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $165.40, for a total value of $1,139,936.80. Following the sale, the executive vice president now owns 25,120 shares of the company's stock, valued at approximately $4,154,848. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Clunet R. Lewis sold 4,400 shares of the firm's stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $153.39, for a total value of $674,916.00. Following the transaction, the director now directly owns 26,400 shares of the company's stock, valued at approximately $4,049,496. The disclosure for this sale can be found here. Corporate insiders own 2.25% of the company's stock.