Sun Communities (NYSE:SUI – Get Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided EPS guidance of $2.52-$2.57 for the period. The company issued revenue guidance of -. Sun Communities also updated its FY 2022 guidance to $7.17-$7.27 EPS.
Sun Communities Trading Down 0.2 %
Shares of Sun Communities stock traded down $0.34 on Monday, hitting $160.18. 572,696 shares of the company’s stock traded hands, compared to its average volume of 624,560. The firm’s 50-day moving average price is $159.57 and its two-hundred day moving average price is $174.25. The stock has a market capitalization of $19.48 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 2.48 and a beta of 0.62. Sun Communities has a one year low of $148.64 and a one year high of $211.79. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.40 and a quick ratio of 3.40.
Sun Communities (NYSE:SUI – Get Rating) last released its quarterly earnings data on Monday, April 25th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Sun Communities had a net margin of 14.97% and a return on equity of 5.09%. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, research analysts expect that Sun Communities will post 7.31 EPS for the current fiscal year.
Sun Communities Dividend Announcement
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The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, June 29th. Sun Communities’s payout ratio is presently 113.55%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Sun Communities from $202.00 to $185.00 and set a buy rating for the company in a research note on Friday, July 1st. Truist Financial assumed coverage on shares of Sun Communities in a research note on Tuesday, May 10th. They issued a buy rating and a $185.00 target price for the company. Evercore ISI set a $194.00 price target on shares of Sun Communities in a report on Monday, June 20th. Wolfe Research assumed coverage on shares of Sun Communities in a report on Friday, July 15th. They issued a peer perform rating on the stock. Finally, Robert W. Baird lowered their price target on shares of Sun Communities from $210.00 to $205.00 in a report on Wednesday, March 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $206.25.
Insider Transactions at Sun Communities
In other news, Director Clunet R. Lewis sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $153.39, for a total transaction of $674,916.00. Following the transaction, the director now directly owns 26,400 shares of the company’s stock, valued at $4,049,496. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO John Bandini Mclaren sold 11,500 shares of the stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $180.27, for a total transaction of $2,073,105.00. Following the sale, the chief operating officer now owns 148,691 shares in the company, valued at approximately $26,804,526.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clunet R. Lewis sold 4,400 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $153.39, for a total transaction of $674,916.00. Following the sale, the director now owns 26,400 shares in the company, valued at approximately $4,049,496. The disclosure for this sale can be found here. Insiders own 2.25% of the company’s stock.
Institutional Trading of Sun Communities
Several large investors have recently made changes to their positions in SUI. Invesco Ltd. boosted its position in shares of Sun Communities by 72.4% during the 1st quarter. Invesco Ltd. now owns 1,916,668 shares of the real estate investment trust’s stock worth $335,973,000 after acquiring an additional 805,125 shares in the last quarter. State Street Corp boosted its position in Sun Communities by 11.7% in the first quarter. State Street Corp now owns 5,647,271 shares of the real estate investment trust’s stock valued at $994,744,000 after buying an additional 591,348 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Sun Communities in the first quarter valued at approximately $30,027,000. Centersquare Investment Management LLC boosted its position in Sun Communities by 7.7% in the first quarter. Centersquare Investment Management LLC now owns 1,804,196 shares of the real estate investment trust’s stock valued at $316,257,000 after buying an additional 129,321 shares in the last quarter. Finally, Eaton Vance Management boosted its position in Sun Communities by 95.2% in the first quarter. Eaton Vance Management now owns 156,450 shares of the real estate investment trust’s stock valued at $27,424,000 after buying an additional 76,299 shares in the last quarter.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.
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