Sun Communities (NYSE:SUI) Posts Earnings Results

Sun Communities (NYSE:SUI) announced its earnings results on Tuesday. The real estate investment trust reported $0.99 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.38), FiscalAI reports. The business had revenue of $515.20 million for the quarter, compared to the consensus estimate of $509.40 million. Sun Communities had a negative return on equity of 4.53% and a net margin of 42.58%.

Sun Communities Price Performance

Sun Communities stock traded up $0.30 during mid-day trading on Tuesday, reaching $131.46. The company had a trading volume of 915,375 shares, compared to its average volume of 765,091. The business has a fifty day simple moving average of $126.06 and a 200 day simple moving average of $126.26. The company has a market cap of $16.26 billion, a P/E ratio of 16.47, a P/E/G ratio of 4.31 and a beta of 0.90. Sun Communities has a fifty-two week low of $109.22 and a fifty-two week high of $137.77. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st were given a $1.04 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. Sun Communities’s dividend payout ratio (DPR) is currently 52.13%.

Insider Activity at Sun Communities

In other news, Director Gary A. Shiffman sold 156,875 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Sun Communities by 9.1% in the 4th quarter. Invesco Ltd. now owns 264,235 shares of the real estate investment trust’s stock valued at $32,741,000 after buying an additional 22,123 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Sun Communities by 4.0% in the fourth quarter. Corient Private Wealth LLC now owns 93,608 shares of the real estate investment trust’s stock valued at $11,582,000 after acquiring an additional 3,568 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Sun Communities by 208.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 33,858 shares of the real estate investment trust’s stock valued at $4,195,000 after acquiring an additional 22,870 shares during the last quarter. Braeburn Wealth Management LLC acquired a new stake in Sun Communities during the 4th quarter valued at approximately $412,000. Finally, Delta Global Management LP bought a new position in Sun Communities during the 4th quarter worth approximately $2,403,000. 99.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Wells Fargo & Company increased their price objective on shares of Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. UBS Group raised their target price on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Robert W. Baird upped their price target on shares of Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Barclays reiterated an “overweight” rating and set a $144.00 price target on shares of Sun Communities in a research report on Tuesday, January 13th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $137.46.

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.