Welcome to our dedicated page for Sun Communities news (Ticker: SUI), a resource for investors and traders seeking the latest updates and insights on Sun Communities stock.
Sun Communities, Inc. (SUI) is a leading residential Real Estate Investment Trust (REIT) specializing in the ownership and operation of manufactured housing communities, residential vehicle (RV) resorts, and marinas. With a robust portfolio that includes 666 properties across the United States, Sun Communities is dedicated to providing top-notch living experiences in desirable locations.
Founded on the principle of the Golden Rule, Sun Communities prioritizes treating others the way it wishes to be treated. This philosophy extends to its team, which is considered a key asset. The company offers a supportive and rewarding workplace, promoting personal growth and career advancement through comprehensive training programs.
As of recent data, Sun Communities owns 351 manufactured housing communities, 179 RV resorts, and 136 marina properties. Nearly half of these properties are located in prime vacation destinations in Florida and Michigan, near major water bodies. This strategic placement caters to those seeking second homes or vacation properties.
Sun Communities' financial performance remains strong, with significant achievements in property acquisitions and development. The company has garnered numerous accolades, including being ranked as a “Top 100 Workplace” by the Detroit Free Press for six consecutive years. It was also recognized as one of Crain’s “Cool Places to Work” and received the American Heart Association's recognition.
For the latest updates on Sun Communities’ financial status, ongoing projects, and latest news, stakeholders can visit their website or contact Chief Financial Officer Fernando Castro-Caratini. The company continues to push forward with its vision, ensuring a high-quality living experience for its residents while maintaining solid financial health.
Sun Communities (NYSE: SUI), a REIT specializing in manufactured housing, RV communities, and marinas, has announced upcoming changes to its Board of Directors as part of its board refreshment strategy. Three directors have announced their departure plans: Arthur A. Weiss will retire on December 31, 2024, Stephanie W. Bergeron will not seek re-election at the 2025 Annual Meeting, and Clunet R. Lewis plans to retire by the 2026 Annual Meeting. All directors will remain active until their respective departure dates. The company has engaged a director search firm to identify qualified board candidates.
Sun Communities (NYSE: SUI), a REIT specializing in manufactured housing, RV communities, and marinas, has announced a quarterly dividend distribution of $0.94 per share for the fourth quarter of 2024. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024.
Sun Communities (NYSE: SUI) announced a comprehensive restructuring plan aimed at saving $15-20 million annually through cost-cutting initiatives. The plan includes better operating expense management, restructuring operational infrastructure, and optimizing IT systems. John McLaren is returning as President to oversee the restructuring, bringing 22 years of company experience. Additionally, CEO Gary Shiffman announced his retirement in 2025 after 40 years of service. The Board has formed a committee to search for a new CEO, led by independent Board members Jeff Blau and Tonya Allen.
Sun Communities (NYSE: SUI) reported third quarter 2024 results with net income of $2.31 per diluted share and Core FFO of $2.34 per share. North America Same Property NOI increased 0.5% for Q3 and 3.6% for the first nine months of 2024. The company revised its full-year 2024 Core FFO guidance to $6.76-$6.84 per share and updated Same Property NOI growth guidance to 2.6%-3.3% for North America and 7.1%-8.7% for UK operations. MH and annual RV sites reached 97.7% occupancy, with approximately 1,050 new revenue-producing sites added in Q3. The company announced preliminary 2025 rental rate increases of 5.2% for MH, 5.1% for Annual RV, and 3.7% for Marina in North America.
Sun Communities (NYSE: SUI), a REIT specializing in manufactured housing, RV communities, and marinas, has announced it will release its third quarter 2024 operating results after market close on Wednesday, November 6, 2024. The company will host a conference call at 5:00 P.M. ET on the same day to discuss the results. The call will be accessible via phone for U.S., Canadian, and international participants, and will also be available live on the company's website. A replay of the call will be available through November 20, 2024.
Sun Communities, Inc. (NYSE: SUI), a REIT specializing in manufactured housing and RV communities and marinas, has reported no material building or structure damage from Hurricane Helene. The company has access to all its properties and is conducting assessments, with clean-up and restoration efforts underway at affected locations. Sun Communities does not anticipate a significant impact on its operating results or financial condition due to the hurricane.
CEO Gary Shiffman emphasized the company's focus on safety and swift response, crediting their Preparedness Plan and experienced team for enabling a quick return to full operations. He also praised the company's employees for their exemplary post-storm support and leadership.
Sun Communities, Inc. (NYSE: SUI), a real estate investment trust (REIT) specializing in manufactured housing (MH) and recreational vehicle (RV) communities and marinas, has announced its third quarter 2024 dividend. The company's Board of Directors has declared a quarterly distribution of $0.94 per share of common stock. This dividend will be payable on October 15, 2024 to shareholders of record as of September 30, 2024. Sun Communities' diverse portfolio includes properties in the MH, RV, and marina sectors, reflecting its broad presence in the real estate market.
Sun Communities (NYSE: SUI) reported Q2 2024 results with net income of $0.42 per diluted share and Core FFO of $1.86 per share. Key highlights include:
- North America Same Property NOI increased 3.6% for Q2 and 5.6% YTD
- MH and RV occupancy reached 98.7%, up 150 bps year-over-year
- Full-year 2024 Core FFO guidance reaffirmed at $7.06-$7.22 per share
- North America Same Property NOI growth guidance maintained at 4.7%-5.7%
- UK Same Property NOI growth guidance raised to 8.6%-10.4%
The company is executing on its capital recycling strategy, having sold over $300 million in properties year-to-date to pay down debt. SUI's Net Debt to Recurring EBITDA ratio improved to 6.0x pro forma for recent dispositions.
Sun Communities (NYSE: SUI), a REIT that owns and operates manufactured housing, recreational vehicle communities, and marinas, will release its second quarter 2024 results after market close on July 31, 2024.
The company will host a conference call to discuss the results on August 1, 2024, at 2:00 P.M. ET. Investors can participate by dialing (877) 407-9039 in the U.S. and Canada, or (201) 689-8470 internationally. The call will also be broadcast live on the company's website.
A replay will be available until August 15, 2024, accessible by dialing (844) 512-2921 for U.S. and Canada, or (412) 317-6671 internationally, using passcode 13747122.
Sun Communities (NYSE: SUI), a REIT specializing in manufactured housing, RV communities, and marinas, has declared a quarterly distribution of $0.94 per share for Q2 2024.
The dividend is payable on July 15, 2024, to shareholders recorded on June 28, 2024.
This announcement continues the company's history of consistent distributions, reflecting its stable revenue streams from its diversified property portfolio.
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