Sun Communities (SUI) to Release Quarterly Earnings on Monday

Sun Communities (NYSE:SUI) will be issuing its quarterly earnings data after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $1.16 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Sun Communities Stock Performance

SUI stock opened at $117.69 on Monday. The company has a 50 day moving average price of $127.89 and a 200 day moving average price of $125.20. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $14.67 billion, a PE ratio of 103.24, a price-to-earnings-growth ratio of 7.53 and a beta of 0.80.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.94 dividend. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the transaction, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,852 shares in the company, valued at approximately $8,789,700.96. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $912,460 over the last ninety days. 1.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC acquired a new stake in Sun Communities in the 1st quarter valued at approximately $401,000. Yousif Capital Management LLC grew its stake in shares of Sun Communities by 12.2% during the 1st quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock worth $1,192,000 after acquiring an additional 739 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Sun Communities by 21.1% in the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 207 shares during the last quarter. Prudential PLC acquired a new stake in shares of Sun Communities in the first quarter valued at approximately $385,000. Finally, Cetera Investment Advisers lifted its position in shares of Sun Communities by 1.9% in the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 64 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SUI has been the topic of several recent research reports. BMO Capital Markets decreased their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Wednesday, March 20th. Barclays lowered their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Compass Point increased their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, Truist Financial decreased their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and an average target price of $141.17.

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.