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 Q4 2020

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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.

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Valuation for Sun Communities, Inc. is now more attractive than before, with potential for 15%+ annualized upside, even at close to 20x P/FFO. Sun Communities is a residential REIT with exposure to underappreciated areas like manufactured housing, RV communities, and marinas. The company has not outperformed significantly since the last update, making it more attractive in terms of valuation.

Fun In The Sun (Communities)

Southfield, MI, July 01, 2024 (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 (collectively, the "properties"), announces it will release second quarter 2024 operating results after the market closes on Wednesday, July 31, 2024. The Company will host a conference call to discuss these results on Thursday, August 1, 2024, at 2:00 P.M. ET.

Sun Communities, Inc. Announces Dates for Second Quarter 2024 Earnings Release and Conference Call

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Southfield, MI, June 03, 2024 (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 (“MH”) and recreational vehicle (“RV”) communities and marinas (collectively, the "properties"), today announced its Board of Directors declared a quarterly distribution of $0.94 per share of common stock for the second quarter of 2024. The distribution is payable on July 15, 2024 to shareholders of record on June 28, 2024.

Sun Communities, Inc. Declares Second Quarter 2024 Distribution

Sun Communities has underperformed the Vanguard Real Estate Index Fund ETF in 2024 despite continued underlying growth. Core FFO is expected to increase by 1% in 2024. Net debt accounts for 33% of enterprise value, with an average interest rate of just 4.21% and a 6.8-year average maturity.

Sun Communities: Low Leverage, Steady Growth And Recession Resilience

Sun Communities, Inc. (NYSE:SUI ) Q1 2024 Earnings Conference Call April 30, 2024 2:00 PM ET Company Participants Gary Shiffman - Chairman, President & Chief Executive Officer Fernando Castro-Caratini - Chief Financial Officer Conference Call Participants Michael Goldsmith - UBS John Kim - BMO Capital Markets Josh Dennerlein - Bank of America Brad Heffern - RBC Capital Markets Wes Golladay - Robert W. Baird Keegan Carl - Wolfe Research Eric Wolfe - Citibank Anthony Powell - Barclays Jamie Feldman - Wells Fargo Anthony Hau - Truist Securities John Pawlowski - Green Street Operator Good afternoon, ladies and gentlemen, and thank you for standing by.

Sun Communities, Inc. (SUI) Q1 2024 Earnings Call Transcript

Sun Communities (SUI) came out with quarterly funds from operations (FFO) of $1.19 per share, beating the Zacks Consensus Estimate of $1.16 per share. This compares to FFO of $1.23 per share a year ago.

Sun Communities (SUI) Q1 FFO and Revenues Top Estimates

Total Revenue Increased by 3.1% Net Loss per Diluted Share of $0.22 Core FFO per Share of $1.19           Total North America Same Property NOI Increased by 7.9% North America Same Property Adjusted Blended Occupancy for MH and RV Increased by 180 Basis Points, Year-over-Year Revenue Producing Site Gains of 233, Including 176 Transient-to-Annual RV Site Conversions           Full-Year Core FFO per Share Guidance for 2024 of $7.06 - $7.22 Guidance Range for Full-Year North America Same Property NOI Growth of 4.6% - 5.8% Southfield, April 29, 2024 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the "Company" or "SUI"), a real estate investment trust ("REIT") that owns and operates, or has an interest in, manufactured housing ("MH") and recreational vehicle ("RV") communities, marinas, and communities in the United Kingdom ("UK") (collectively, the "properties"), today reported its first quarter results for 2024. Financial Results for the Quarter Ended March 31, 2024 For the quarter ended March 31, 2024, net loss attributable to common shareholders was $27.4 million, or $0.22 per diluted share, compared to net loss attributable to common shareholders of $44.9 million, or $0.36 per diluted share for the same period in 2023.

Sun Communities, Inc. Reports 2024 First Quarter Results

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March Madness: Elite 8 REITs

Southfield, MI, April 04, 2024 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (“Sun” or the “Company”), a real estate investment trust ("REIT") that owns and operates, or has an interest in manufactured housing ("MH") and recreational vehicle ("RV") communities and marinas (collectively, the "properties"), announces the release of its 2023 Environmental, Social and Governance (“ESG”) report.

Sun Communities, Inc. Releases 2023 ESG Report

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Southfield, MI, April 02, 2024 (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 (collectively, the "properties"), announces it will release first quarter 2024 operating results after the market closes on Monday, April 29, 2024. The Company will host a conference call to discuss these results on Tuesday, April 30, 2024, at 2:00 P.M. ET.

Sun Communities, Inc. Announces Dates for First Quarter 2024 Earnings Release and Conference Call

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20 new dividend increases with an average increase of 8.5% and a median of 8% are shared.

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Sun Communities is a leading REIT in the manufactured housing, RV, and marina segments with a consistent track record of growth and strong shareholder returns.

Sun Communities: Wonderful Stock At A Decent Price

Sun Communities is a non-traditional residential REIT that focuses on mobile home parks, RV resorts, and marinas. The company has consistently raised rental rates and maintained high occupancy rates, indicating affordability for tenants.

Sun Communities: Growth At A High Price

Southfield, MI, March 01, 2024 (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 (“MH”) and recreational vehicle (“RV”) communities and marinas (collectively, the "properties"), today announced its Board of Directors declared a quarterly distribution of $0.94 per share of common stock for the first quarter of 2024. The distribution is payable on April 15, 2024 to shareholders of record on March 29, 2024.

Sun Communities, Inc. Declares First Quarter 2024 Distribution

Southfield, MI, Feb. 29, 2024 (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 that Gary A. Shiffman, Chairman, President and Chief Executive Officer, will present at the 2024 Citi Global Property CEO Conference in Hollywood, Florida, on Tuesday, March 5, 2024, at 1:30 p.m. Eastern Standard Time.

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Sun Communities, Inc. (SUI) Q4 2023 Earnings Call Transcript

News for Sun Communities Stock (SUI)