Sun Communities Inc reports results for the quarter ended in March - Earnings Summary

Sun Communities

30/04/2024 03:33

* Sun Communities Inc  SUI.N  reported a quarterly adjusted
loss
of 22 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of -24 cents.  The mean expectation of seven analysts for the
quarter was for a loss of 11 cents per share. Wall Street
expected results to range from -25 cents to -3 cents per share.
    * Revenue rose 3.1% to $671.30 million from a year ago;
analysts
expected $672.18 million. 
    * Sun Communities Inc's reported EPS for the quarter was a
loss
of 22 cents​.
    * The company reported a quarterly loss of $27.4 million.
    * Sun Communities Inc shares had fallen by 7.4% this
quarter and
lost 10.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.7%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the residential
reits
peer group is also "buy"

Wall Street's median 12-month price target for Sun Communities
Inc is $144.50 
This summary was machine generated from LSEG data April 30 at
02:32 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.17           1.19           Beat
 Dec. 31 2023      1.32           1.34           Beat
 Jun. 30 2023      2.48           2.57           Beat
 Jun. 30 2023      1.95           1.96           Beat