Sun Communities (SUI) Issues Q2 Earnings Guidance

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.

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.75 dividend. This is an increase from Sun Communities’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Thursday, March 28th. Sun Communities’s dividend payout ratio (DPR) is 65.50%.

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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