Sun Communities (SUI) Scheduled to Post Quarterly Earnings on Wednesday

Sun Communities (NYSE:SUI - Get Free Report) is set to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $2.52 per share for the quarter. Investors interested in registering for the company's conference call can do so using this link.

Sun Communities Stock Up 1.2 %

Shares of SUI stock traded up $1.64 during trading hours on Wednesday, reaching $132.89. The company had a trading volume of 712,204 shares, compared to its average volume of 806,840. Sun Communities has a 12 month low of $108.87 and a 12 month high of $147.83. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The business has a fifty day simple moving average of $135.83 and a 200-day simple moving average of $126.32. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 114.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.83%. Sun Communities's dividend payout ratio is presently 324.14%.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction on Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the completion of the sale, the chief executive officer now owns 63,462 shares of the company's stock, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.89% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on SUI shares. Truist Financial increased their price target on Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a research report on Tuesday, August 13th. Jefferies Financial Group started coverage on Sun Communities in a research report on Thursday, October 17th. They set a "buy" rating and a $160.00 price target for the company. Royal Bank of Canada increased their price target on Sun Communities from $131.00 to $137.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Evercore ISI raised their target price on Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a research report on Monday, October 21st. Finally, Robert W. Baird raised their target price on Sun Communities from $144.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.91.

About Sun Communities

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.