Sun Communities (NYSE:SUI) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.11-1.14 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.13. Sun Communities also updated its FY19 guidance to $4.80-4.88 EPS.
Shares of SUI traded up $0.63 during mid-day trading on Friday, hitting $122.87. The company’s stock had a trading volume of 8,161 shares, compared to its average volume of 367,010. The stock has a market capitalization of $10.56 billion, a P/E ratio of 26.80, a P/E/G ratio of 4.08 and a beta of 0.31. Sun Communities has a fifty-two week low of $91.03 and a fifty-two week high of $123.49.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.06. The company had revenue of $287.33 million for the quarter, compared to analysts’ expectations of $279.54 million. Sun Communities had a net margin of 9.87% and a return on equity of 3.78%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. On average, equities research analysts forecast that Sun Communities will post 4.83 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on SUI shares. Zacks Investment Research downgraded shares of Sun Communities from a hold rating to a sell rating in a research report on Thursday, February 28th. Wells Fargo & Co lowered Sun Communities from an outperform rating to a market perform rating and set a $118.00 target price on the stock. in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $110.17.
In other news, Director Arthur A. Weiss bought 257,179 shares of the stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $117.84 per share, for a total transaction of $30,305,973.36. Following the purchase, the director now directly owns 29,156 shares in the company, valued at approximately $3,435,743.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary A. Shiffman sold 12,859 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $117.84, for a total value of $1,515,304.56. Following the completion of the transaction, the chief executive officer now owns 1,418,466 shares of the company’s stock, valued at approximately $167,152,033.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,912 shares of company stock valued at $1,985,363. Company insiders own 3.34% of the company’s stock.
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About Sun Communities
Sun Communities, Inc is a REIT that, as of December 31, 2018, owned, operated, or had an interest in a portfolio of 371 communities comprising over 128,000 developed sites in 31 states and Ontario, Canada.
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