Sun Communities (SUI) Projected to Post Earnings on Wednesday

Sun Communities (NYSE:SUI) will likely be releasing its earnings data after the market closes on Wednesday, February 26th. Analysts expect Sun Communities to post earnings of $0.23 per share and revenue of $724.68 million for the quarter.

Sun Communities Trading Down 1.0 %

NYSE SUI opened at $124.85 on Thursday. Sun Communities has a one year low of $110.98 and a one year high of $147.83. The company’s 50 day moving average price is $124.34 and its 200 day moving average price is $129.55. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 67.13 and a beta of 0.90.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.01%. Sun Communities’s dividend payout ratio is currently 202.15%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Sun Communities has an average rating of “Hold” and an average price target of $134.55.

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.