Sun Communities (NYSE:SUI) will release its earnings data after the market closes on Wednesday, October 24th. Analysts expect Sun Communities to post earnings of $1.36 per share for the quarter.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Sun Communities had a net margin of 8.91% and a return on equity of 3.44%. The business had revenue of $271.43 million for the quarter, compared to the consensus estimate of $235.02 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, analysts expect Sun Communities to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shares of NYSE SUI opened at $97.36 on Tuesday. Sun Communities has a one year low of $80.12 and a one year high of $103.74. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 3.31 and a beta of 0.07.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, September 27th. Sun Communities’s payout ratio is currently 68.11%.
In other news, COO John Bandini Mclaren sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $625,040.00. Following the transaction, the chief operating officer now owns 162,294 shares in the company, valued at $15,606,191.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clunet R. Lewis sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $99.95, for a total transaction of $119,940.00. Following the completion of the transaction, the director now owns 19,400 shares in the company, valued at approximately $1,939,030. The disclosure for this sale can be found here. 3.69% of the stock is currently owned by company insiders.
A number of brokerages have commented on SUI. Robert W. Baird increased their price target on shares of Sun Communities from $102.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Zacks Investment Research cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. BMO Capital Markets increased their price target on shares of Sun Communities to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. Royal Bank of Canada increased their price target on shares of Sun Communities to $105.00 and gave the company an “above average” rating in a research report on Thursday, August 30th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price target on shares of Sun Communities from $103.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $103.86.
About Sun Communities
Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.
Further Reading: Google Finance Portfolio Workaround
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.