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.
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).
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