Sun Communities (NYSE:SUI) Issues Q4 2019 Earnings Guidance

Sun Communities (NYSE:SUI) issued an update on its fourth quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.04-1.08 for the period. Sun Communities also updated its FY 2019 guidance to $4.86-4.90 EPS.

NYSE:SUI traded up $3.46 during mid-day trading on Thursday, reaching $158.46. 588,631 shares of the company’s stock were exchanged, compared to its average volume of 486,126. Sun Communities has a one year low of $96.17 and a one year high of $159.57. The firm has a market capitalization of $14.11 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 5.28 and a beta of 0.22. The business’s fifty day simple moving average is $150.30 and its two-hundred day simple moving average is $135.41.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Sun Communities had a return on equity of 4.01% and a net margin of 11.05%. The business had revenue of $362.44 million for the quarter, compared to the consensus estimate of $321.14 million. During the same period in the prior year, the business posted $1.35 earnings per share. Sun Communities’s revenue was up 12.1% compared to the same quarter last year. As a group, analysts expect that Sun Communities will post 4.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, September 27th. Sun Communities’s dividend payout ratio is currently 65.50%.

Several equities analysts have commented on SUI shares. Wells Fargo & Co raised their target price on shares of Sun Communities from $118.00 to $137.00 and gave the company a market perform rating in a report on Wednesday, September 18th. Zacks Investment Research lowered shares of Sun Communities from a buy rating to a hold rating in a report on Thursday, September 26th. Finally, ValuEngine lowered shares of Sun Communities from a buy rating to a hold rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $136.25.

In other news, CFO Karen Dearing sold 11,204 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $148.50, for a total value of $1,663,794.00. Following the sale, the chief financial officer now directly owns 110,126 shares in the company, valued at approximately $16,353,711. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Bandini Mclaren sold 7,410 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.74, for a total transaction of $1,087,343.40. Following the completion of the sale, the chief operating officer now owns 120,483 shares in the company, valued at $17,679,675.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,871 shares of company stock worth $2,789,063. Insiders own 3.34% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.

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