Sun Communities (SUI) Releases Earnings Results, Misses Estimates By $0.92 EPS

Sun Communities (NYSE:SUI) posted its earnings results on Wednesday. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.92), Fidelity Earnings reports. Sun Communities had a net margin of 10.16% and a return on equity of 3.95%. The firm had revenue of $274.00 million during the quarter, compared to the consensus estimate of $287.90 million. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue was up 13.2% on a year-over-year basis.

SUI stock opened at $114.03 on Thursday. Sun Communities has a fifty-two week low of $84.66 and a fifty-two week high of $121.28. The company has a market capitalization of $9.85 billion, a P/E ratio of 27.35, a P/E/G ratio of 3.64 and a beta of 0.28.

In related news, COO John Bandini Mclaren sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $103.42, for a total value of $248,208.00. Following the completion of the transaction, the chief operating officer now owns 152,624 shares in the company, valued at approximately $15,784,374.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.69% of the company’s stock.

Several research analysts recently weighed in on SUI shares. Zacks Investment Research upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup set a $110.00 price objective on shares of Sun Communities and gave the stock a “hold” rating in a research report on Wednesday, December 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $108.50.

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About Sun Communities

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.

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Earnings History for Sun Communities (NYSE:SUI)

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