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

Earnings data Q1 2021

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Earnings data Q4 2023

Earnings data Q1 2024

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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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Sun Communities is a leading owner and operator of manufactured housing communities, RV resorts, and marinas. The stock has a strong history of outperformance when compared to broader indexes but has significantly underperformed over the past year.

Sun Communities: Recreational Demand Remains Strong

Targets 2035 for Carbon Neutrality, 2045 for Net Zero Emissions Targets 2035 for Carbon Neutrality, 2045 for Net Zero Emissions

SUN COMMUNITIES ADOPTS CLIMATE CHANGE GOALS

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We own shares in all six. We're including our largest position here. All six have strong growth in AFFO per share fueling growth in dividends.

6 Great REITs

Southfield, MI, Dec. 01, 2022 (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”) communities, recreational vehicle (“RV”) resorts and marinas, today announced the dates for its fourth quarter 2022 earnings release and conference call.

Sun Communities, Inc. Announces Dates for Fourth Quarter 2022 Earnings Release and Conference Call

Southfield, MI, Dec. 01, 2022 (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”) communities, recreational vehicle (“RV”) resorts and marinas, today announced its Board of Directors declared a quarterly distribution of $0.88 per share of common stock for the fourth quarter of 2022. The distribution is payable January 17, 2023 to shareholders of record on December 30, 2022.

Sun Communities, Inc. Declares Fourth Quarter 2022 Distribution

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Let's shed some light on the balance sheet characteristics of the top 10 holdings (constituting roughly 70% of the total portfolio) within HAUS. The coastal apartment companies within the top 10 represent just over 32% of the portfolio, and all four names have investment grade credit ratings of BBB+/Baa1 or higher.

Residential REITs: Balance Sheets Built To Last

Sun Communities, Inc. (NYSE:SUI ) Q3 2022 Earnings Conference Call October 25, 2022 11:00 AM ET Company Participants Gary Shiffman – Chairman and Chief Executive Officer John McLaren – President and Chief Operating Officer Fernando Castro-Caratini – Chief Financial Officer Conference Call Participants Nick Joseph – Citigroup Michael Goldsmith – UBS Wes Golladay – Baird John Pawlowski – Green Street John Kim – BMO Capital Markets Samir Khanal – Evercore ISI Brad Heffern – RBC Capital Markets Joshua Dennerlein – Bank of America Anthony Hau – Truist Securities Operator Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Sun Communities Third Quarter 2022 Earnings Conference Call.

Sun Communities, Inc. (SUI) Q3 2022 Earnings Call Transcript

This tricky market environment is punishing even the highest-quality REITs as rising rates and weakening housing fundamentals cause investors to run for the hills. However, this comes with opportunities. SUI is now yielding 3% and has a business model that benefits from current housing fundamentals.

A REIT That Has It All: Sun Communities

Sun Communities (SUI) delivered FFO and revenue surprises of 5.16% and 5.89%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Sun Communities (SUI) Q3 FFO and Revenues Surpass Estimates

Sun Communities shares have plunged 44% thus far in 2022 as the rapid rise in interest rates has reduced enthusiasm for REITs. Mobile Home and RV parks are a fantastic real estate business characterized by lack of new supply, steadily increasing demand, high switching costs, and low capital expenditures.

Sun Communities: A Fantastic Real Estate Business At An Enticing Price

D iluted Earnings per Share of $1.32 Constant Currency Core FFO (1) per Diluted Share of $2.71 Exceeded Guidance

Sun Communities, Inc. Reports 2022 Third Quarter Results

Southfield, MI, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”), a real estate investment trust ("REIT") that owns and operates, or has an interest in, manufactured housing ("MH") communities, recreational vehicle ("RV") resorts and marinas, is providing a preliminary assessment of the impact of Hurricane Ian on the Company's properties in Florida.

Sun Communities, Inc. Provides Preliminary Assessment of Hurricane Ian Impact

UMH Properties

With Hurricane Ian making landfall as a destructive Category 4 storm on the Southwest Florida coast this week, we examine the expected impact on manufactured housing REITs. The storm took a similar path as Hurricane Irma in 2017, but Ian's storm surge and wind impacts appear more significant. Florida is the largest market for MH REITs.

Manufactured Housing: Impact Of Hurricane Ian

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Strong growth in cash flow and solid dividend growth. Big discounts to NAV and unusually low AFFO multiples.

Top 5 REITs For A 100-Year-Old

Southfield, MI, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”), a real estate investment trust ("REIT") that owns and operates, or has an interest in, manufactured housing ("MH") communities, recreational vehicle ("RV") resorts and marinas, announces that Gary A. Shiffman, Chairman and Chief Executive Officer, will present at Bank of America's 2022 Global Real Estate Conference in New York City, New York on Wednesday, September 14, 2022, at 3:40 p.m. Eastern Time.

Sun Communities, Inc. to Present at Bank of America's 2022 Global Real Estate Conference

Bruce Thelen Promoted to Chief Operating Officer; John McLaren to Oversee Manufactured Housing Development Platform Bruce Thelen Promoted to Chief Operating Officer; John McLaren to Oversee Manufactured Housing Development Platform

Sun Communities Announces COO Succession

Southfield, MI, Sept. 01, 2022 (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”) communities, recreational vehicle (“RV”) resorts and marinas, today announced the dates for its third quarter 2022 earnings release and conference call.

Sun Communities, Inc. Announces Dates for Third Quarter 2022 Earnings Release and Conference Call

Southfield, MI, Sept. 01, 2022 (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”) communities, recreational vehicle (“RV”) resorts and marinas, today announced its Board of Directors declared a quarterly distribution of $0.88 per share of common stock for the third quarter of 2022. The distribution is payable October 14, 2022 to shareholders of record on September 30, 2022.

Sun Communities, Inc. Declares Third Quarter 2022 Distribution

I bought another $16K of SUI. Good price on a great company. Consensus AFFO estimates look reasonable and reflect significant growth over the next several years.

I Buy More As Sun Communities Falls

Sun Communities, Inc. is a REIT with a leading portfolio of manufactured housing communities, RV resorts, and marinas. The company's simple, CAPEX-light business model has served investors well over the past decade, with 10-year total returns of over 400%.

Sun Communities: Capitalizing On Affordable Housing And Recreational Opportunities

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Real estate investment trusts, or REITs, are companies that own income-producing property. They are attractive investments because they must distribute a minimum of 90% of their taxable profits as dividends to investors.

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Sun Communities, Inc. (NYSE:SUI ) Q2 2022 Earnings Conference Call July 26, 2022 11:00 AM ET Company Participants Gary Shiffman - Chairman & CEO John McLaren - President & COO Karen Dearing - CFO Fernando Castro-Caratini - SVP, Finance & Capital Markets Conference Call Participants Keegan Carl - Berenberg Wes Golladay - Robert W. Baird Nicholas Joseph - Citi Brad Heffern - RBC Capital Markets Michael Goldsmith - UBS Samir Khanal - Evercore Joshua Dennerlein - Bank of America John Pawlowski - Green Street Advisors Anthony Powell - Barclays John Kim - BMO Capital Markets Anthony Hau - Truist Nick Joseph - Citi Operator Good morning, ladies and gentlemen, and thank you for standing by.

Sun Communities, Inc. (SUI) CEO Gary Shiffman on Q2 2022 Results - Earnings Call Transcript

This press release has been revised to update the information set forth under the heading "Guidance – UK Operations Guidance" on page viii to include certain recently-acquired UK properties which were omitted from the original release.

Sun Communities, Inc. Reports 2022 Second Quarter Results

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As Q2 earnings season ramped up in the week ending July 22, 2022, indexes were carried higher on better-than-expected results and favorable commentary from the corporate executives. On Tuesday, the DJIA jumped 750 points, its biggest one-day gain in nearly a month.

5 Laggards For The Week Ending July 22, 2022

The mean of analysts' price targets for Sun Communities (SUI) points to a 29% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

News for Sun Communities Stock (SUI)