Sun Communities, Inc. (NYSE:SUI) Plans $1.12 Quarterly Dividend

Sun Communities, Inc. (NYSE:SUI) announced a quarterly dividend on Tuesday, September 8th. Shareholders of record on Wednesday, September 30th will be given a dividend of 1.12 per share by the real estate investment trust on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, September 30th.

Sun Communities has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Sun Communities has a dividend payout ratio of 169.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Sun Communities to earn $7.06 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 63.5%.

Sun Communities Stock Down 1.5%

NYSE:SUI opened at $117.68 on Wednesday. The company’s 50-day simple moving average is $121.39 and its 200-day simple moving average is $125.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52. Sun Communities has a fifty-two week low of $115.90 and a fifty-two week high of $137.85. The stock has a market capitalization of $14.33 billion, a P/E ratio of -16.60, a P/E/G ratio of 5.45 and a beta of 0.77.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.