Sun Communities

Sun Communities, Inc. provides real estate management services. The firm operates through the following segments: Manufactured Home Communities, Recreational Vehicle, and Marina. The Manufactured Home Communities segment owns, operates, and develops manufactured housing communities and is in the business of acquiring, operating, and developing ground up communities to provide housing solutions. The Recreational Vehicle segment focuses on the development of recreational vehicle resorts and is in the business of acquiring, operating and developing ground up resorts throughout the U.S. and in Ontario, Canada. The Marina segment operates marinas and is in the business of acquiring and operating marinas throughout the U.S. The company was founded in 1975 and is headquartered in Southfield, MI.

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q4 2021

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Earnings data Q4 2022

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Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Sun Communities reports record revenue gains and optimistic outlook for 2023

Sun Communities showcased robust financial results, strategic growth initiatives, and a commitment to sustainability. Analyst inquiries focused on cost management, revenue sustainability, and growth strategies. The company's outlook for 2023 remains optimistic, emphasizing long-term stability and growth potential.

Sun Communities exceeds Q1 guidance, eyes growth amid challenges

Sun Communities demonstrated strong financial performance and operational growth in Q1 2023, driven by key segments like manufactured housing and RVs.
While facing challenges such as lowered UK operations' NOI range and currency impacts, Sun remains optimistic about its long-term growth prospects.
The company's strategic initiatives, focus on sustainability, and expansion plans position it well to capitalize on growth opportunities in the market.
Overall, Sun's stable financial outlook, commitment to ESG, and selective growth strategy underline its resilience and potential for future success.

Sun Communities reports strong Q2 results, eyes growth opportunities

Sun Communities delivered solid operational performance in Q2, with a focus on optimizing its portfolio and enhancing returns. Despite challenges in the U.K. home sales business, the company remains well-positioned for growth through strategic initiatives and expansion opportunities.

Sun Communities (SUI) surpasses Q3 expectations, eyes growth opportunities

Sun Communities delivered a strong Q3 performance, exceeding expectations in core FFO and same-property NOI growth. Despite facing challenges from the macro environment and property sales issues, the company remains optimistic about future growth. Sun's focus on operational efficiency, strategic changes, and transparent financial practices position it well for continued success.

Sun Communities reports strong earnings, focuses on value creation

Sun Communities delivered solid financial performance with core FFO meeting expectations and robust same-property NOI growth.
The company is strategically focusing on capital recycling initiatives and enhancing shareholder value through increased distributions.
Challenges include noncash impairments impacting financials and market data limitations for assessing Holiday Parks transactions.
Opportunities lie in capital recycling strategies, value creation initiatives, and operational efficiency improvements for future growth.

Sun Communities excels in Q1 results amidst challenges and opportunities

Sun Communities' Q1 performance reflects strong revenue growth and strategic financial management, positioning the company for long-term success.
While facing challenges in consumer demand and revenue declines, Sun Communities remains focused on operational efficiency and financial stability.
Opportunities for growth through marketing initiatives, deleveraging strategies, and operational enhancements underscore a positive outlook for the company.
Management's proactive approach to guidance adjustments and strategic planning demonstrate adaptability and commitment to shareholder value.

Sun Communities reports solid Q2 earnings, focuses on strategic growth

Sun Communities' Q2 performance showcased strength in Manufactured Housing and Marina segments, with strategic initiatives driving revenue growth. Challenges in the RV segment and ongoing efforts on debt reduction were noted. The company's focus on long-term growth through asset recycling and revenue optimization remains key.

Sun Communities disappoints in Q3, plans strategic repositioning for growth

Sun Communities (SUI) faces challenges in transient RV and marina segments but shows strengths in cost-saving initiatives and asset sales.
Repositioning efforts and CEO succession plans signal a strategic shift for future growth.
Opportunities lie in reducing transient exposure, increasing income streams, and refreshing the board.
Financial performance remains stable with a focus on expense management and operational efficiency.

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Southfield, MI, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) (the "Company") announced, effective today, that Ms. Tonya Allen has joined the Company's Board of Directors (the “Board”) as an independent director, bringing an expert perspective on sustainability and social issues, an important focus for the Company.

Sun Communities, Inc. Announces Appointment of Tonya Allen to its Board of Directors

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ELS, AMT, and CCI are the monsters of dividend growth. They've delivered enormous growth for years and are positioned to continue providing huge growth. Each of these REITs has a great history of driving growth in FFO per share to support growth in dividends per share.

Monsters Of REIT Dividend Growth

Sun Communities has a recession-resilient business model, and continues to grow. It has well-located properties, and has a strong balance sheet.

How This Winner Keeps On Winning: Sun Communities Is A Buy

Southfield, MI, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) (the "Company") announced the tax treatment of its 2020 common share distributions.

Sun Communities, Inc. Announces Tax Treatment of 2020 Distributions

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I used to only invest in private real estate. Looking back, this was a mistake, and today I favor REITs in most cases.

Why I Stopped Buying Real Estate To Buy REITs Instead

Southfield, MI, Dec. 01, 2020 (GLOBE NEWSWIRE) --  Sun Communities, Inc. (NYSE:SUI) (the “Company”), a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing and recreational vehicle communities and marinas, today announced the dates for its fourth quarter 2020 earnings release and conference call.

Sun Communities, Inc. Announces Dates for Fourth Quarter 2020 Earnings Release and Conference Call

Southfield, MI, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) (the “Company”), a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing and recreational vehicle communities and marinas, today announced its Board of Directors declared a quarterly distribution of $0.79 per share of common stock for the fourth quarter of 2020. The distribution is payable January 15, 2021 to shareholders of record on December 31, 2020. 

Sun Communities, Inc. Declares Fourth Quarter 2020 Dividends

Southfield, MI, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the "Company") today announced the closing of its previously announced acquisition of Safe Harbor Marinas, LLC (“Safe Harbor”). The Company acquired 99 marinas owned and operated by Safe Harbor and eight marinas Safe Harbor manages on behalf of third parties. As part of the acquisition, the Company expects to acquire one of the managed properties by November 30, 2020 and two of the managed properties at a future date. Safe Harbor has an approximate 40,000-member network of boat owners across 22 states.

Sun Communities, Inc. Closes Acquisition of Safe Harbor Marinas

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Several housing REITs remain very attractive. Apartment REITs in particular are attractive due to huge discounts to NAV and high market-implied cap rates. ELS reported Q3 2020 normalized FFO at $.55 per share, beating estimates and last year's value by $.02. NAREIT FFO was lower, but we would favor using the normalized value.

Housing REITs Remain Cheap

Sun Communities, Inc. (SUI) CEO Gary Shiffman on Q3 2020 Results - Earnings Call Transcript

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SNR vs. SUI: Which Stock Is the Better Value Option?

Sun Communities (SUI) delivered FFO and revenue surprises of 11.89% and 10.55%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?

Sun Communities (SUI) Surpasses Q3 FFO and Revenue Estimates

Sun Communities, Inc. Reports 2020 Third Quarter Results

We're still seeing great bargains throughout the apartment REIT subsector.

Loaded Up On Apartments

SNR or SUI: Which Is the Better Value Stock Right Now?

Southfield, Michigan, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) (the “Company”), a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing and recreational vehicle communities, today announced that it has commenced an underwritten public offering of 5,600,000 shares of its common stock in connection with the forward sale agreement described below. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 840,000 shares of its common stock. 

Sun Communities, Inc. Commences Public Offering of 5,600,000 Shares of Common Stock

DALLAS, Sept. 29, 2020 /PRNewswire/ -- We are pleased to announce that Safe Harbor Marinas has entered into a definitive merger agreement with Sun Communities, Inc. (NYSE: SUI) and one of its subsidiaries in a transaction for cash and SUI equity valued at $2.11 billion. "We are excited to...

Safe Harbor Marinas Announces Merger Agreement With Sun Communities, Inc.

Complementary High Barrier to Entry Platform Enhances Internal and External Growth Opportunities - Conference Call Today at 10:00 AM ET Complementary High Barrier to Entry Platform Enhances Internal and External Growth Opportunities - Conference Call Today at 10:00 AM ET

Sun Communities, Inc. to Acquire Safe Harbor Marinas, LLC for $2.1 Billion

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You Are About To Change Your Mind On Manufactured Housing Parks

Southfield, Michigan, Aug.  31, 2020  (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) (the “Company”), a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing and recreational vehicle communities, today announced the dates for its third quarter 2020 earnings release and conference call.

Sun Communities, Inc. Announces Dates for Third Quarter 2020 Earnings Release and Conference Call

Southfield, Michigan, Aug.  31, 2020  (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) (the “Company”), a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing and recreational vehicle communities, today announced its Board of Directors declared a quarterly distribution of $0.79 per share of common stock for the third quarter of 2020. The distribution is payable October 15, 2020 to shareholders of record on September 30, 2020. 

Sun Communities, Inc. Declares Third Quarter 2020 Dividends

Sun Communities Keeps Growing Through Tough Times

Sun Communities, Inc. (SUI) CEO Gary Shiffman on Q2 2020 Results - Earnings Call Transcript

Sun Communities (SUI) delivered FFO and revenue surprises of -4.27% and -2.56%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?

News for Sun Communities Stock (SUI)