Sun Communities (SUI) Issues Earnings Results

Sun Communities (NYSE:SUI) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.78, Bloomberg Earnings reports. The company had revenue of $242.00 million during the quarter, compared to analysts’ expectations of $207.51 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. Sun Communities updated its Q1 guidance to $1.12-1.14 EPS and its FY18 guidance to $4.48-4.58 EPS.

Shares of Sun Communities (NYSE:SUI) traded down $0.68 during mid-day trading on Wednesday, hitting $84.89. 427,999 shares of the stock traded hands, compared to its average volume of 431,793. Sun Communities has a twelve month low of $78.78 and a twelve month high of $96.08. The company has a market capitalization of $6,740.00, a PE ratio of 114.72, a price-to-earnings-growth ratio of 3.05 and a beta of 0.15.

SUI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Wednesday, December 27th. Royal Bank of Canada upped their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. ValuEngine raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $100.00 to $95.00 in a research report on Friday, January 5th. Finally, Evercore ISI raised shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective for the company in a research report on Monday, December 4th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $93.57.

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Sun Communities Company Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

Earnings History for Sun Communities (NYSE:SUI)

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