Sun Communities, Inc. (NYSE:SUI) Plans $1.04 Quarterly Dividend

Sun Communities, Inc. (NYSE:SUI) declared a quarterly dividend on Tuesday, December 9th. Investors of record on Wednesday, December 31st will be given a dividend of 1.04 per share by the real estate investment trust on Monday, February 2nd. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, December 31st.

Sun Communities has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Sun Communities has a dividend payout ratio of 157.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Sun Communities to earn $7.02 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 59.3%.

Sun Communities Price Performance

SUI stock traded up $0.30 during mid-day trading on Wednesday, hitting $123.34. The company had a trading volume of 19,592 shares, compared to its average volume of 836,147. The company has a 50-day moving average price of $125.71 and a 200 day moving average price of $125.90. Sun Communities has a 12-month low of $109.22 and a 12-month high of $137.77. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 4.35 and a beta of 0.92. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. The firm had revenue of $697.20 million during the quarter, compared to analyst estimates of $713.32 million. Sun Communities had a negative return on equity of 4.53% and a net margin of 42.58%.The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS and its FY 2025 guidance at 6.590-6.670 EPS. On average, research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SUI shares. Truist Financial lifted their price objective on Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Robert W. Baird lifted their target price on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Morgan Stanley cut their price target on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Wells Fargo & Company increased their target price on Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Finally, Jefferies Financial Group set a $142.00 target price on shares of Sun Communities and gave the stock a “buy” rating in a research report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $137.42.

About Sun Communities

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.