Sun Communities, Inc. (SUI) to Distribute Quarterly Dividend of $1.12 on October 15th

Sun Communities, Inc. (NYSE:SUI) declared a quarterly dividend on Tuesday, September 8th. Investors of record on Wednesday, September 30th will be paid 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 yield of 3.9%. The ex-dividend date is Wednesday, September 30th.

Sun Communities has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 8 years. Sun Communities has a payout ratio of 169.7% indicating that 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 Trading Down 1.3%

Shares of NYSE:SUI opened at $116.16 on Thursday. Sun Communities has a 12-month low of $115.60 and a 12-month high of $137.85. The company has a market capitalization of $14.15 billion, a PE ratio of -16.38, a PEG ratio of 5.37 and a beta of 0.77. The business has a 50 day moving average of $121.30 and a two-hundred day moving average of $125.21. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Company Profile

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops residential and recreational properties. Its portfolio is centered on manufactured housing communities, where residents typically lease sites for manufactured homes, as well as recreational vehicle communities and resorts that provide short-term and long-term accommodations.

The company also operates marinas, offering services that may include boat slips, storage, fueling and related amenities.