Sun Communities (NYSE:SUI) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.11-1.14 for the period, compared to the Thomson Reuters consensus estimate of $1.13. Sun Communities also updated its FY19 guidance to $4.80-4.88 EPS.
Shares of NYSE SUI traded up $1.06 during mid-day trading on Wednesday, reaching $120.66. The company had a trading volume of 398,800 shares, compared to its average volume of 358,954. The stock has a market cap of $10.16 billion, a PE ratio of 26.34, a PEG ratio of 4.06 and a beta of 0.31. Sun Communities has a 52 week low of $90.87 and a 52 week high of $121.28.
Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.06. The firm 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 for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. Research analysts forecast that Sun Communities will post 4.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.75 dividend. The ex-dividend date was Thursday, March 28th. This is a boost from Sun Communities’s previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.49%. Sun Communities’s dividend payout ratio is presently 65.50%.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Sun Communities from a sell rating to a hold rating in a research note on Tuesday, February 19th. Wells Fargo & Co lowered shares of Sun Communities from an outperform rating to a market perform rating and set a $118.00 price objective for the company. in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Sun Communities presently has an average rating of Hold and an average target price of $110.17.
In related news, EVP Jonathan Colman sold 1,653 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $114.00, for a total value of $188,442.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur A. Weiss acquired 257,179 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average cost of $117.84 per share, with a total value of $30,305,973.36. Following the completion of the purchase, the director now owns 29,156 shares of the company’s stock, valued at $3,435,743.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 16,912 shares of company stock valued at $1,985,363. 3.34% of the stock is owned by insiders.
Sun Communities Company Profile
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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