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, Inc. (NYSE: SUI) has declared a quarterly distribution of $0.88 per share of common stock for Q4 of 2022. This distribution is payable on January 17, 2023, to shareholders on record by December 30, 2022. As of September 30, 2022, Sun Communities operates or holds interests in 662 properties, including manufactured housing, RV resorts, and marinas, spanning across 39 states, the UK, Canada, and Puerto Rico, comprising over 180,500 developed sites.
Sun Communities (SUI) reported Q3 2022 results, with net income of $162.6 million ($1.32/share), down from $231.7 million ($2.00/share) year-over-year. Constant Currency Core FFO reached $2.71/share, exceeding guidance. Same Property NOI for Manufactured Housing and RV increased by 6.4%, while Marina properties rose by 9.6%. Acquisitions totaled $213.9 million. Full-year guidance for diluted EPS revised to $1.96 - $2.02, and Constant Currency Core FFO to $7.32 - $7.38. Preliminary 2023 rental rate increases projected at 6.2% - 6.4% for MH, 7.7% - 7.9% for Annual RV, and 7.3% - 7.6% for Marina.
Sun Communities, Inc. (SUI) is assessing Hurricane Ian's impact on its Florida properties, with preliminary evaluations indicating significant flooding and wind damage to three RV properties in Fort Myers, affecting approximately 2,500 sites. Restoration efforts are underway, and the Company has begun supplying resources to assist affected residents. Sun Communities maintains comprehensive insurance coverage, and it has launched a charitable campaign for hurricane relief. The Company emphasizes its commitment to supporting its residents and team members during this crisis.
Sun Communities, Inc. (NYSE: SUI), a leading real estate investment trust, announced that CEO Gary A. Shiffman will present at Bank of America's 2022 Global Real Estate Conference on September 14, 2022, at 3:40 PM ET. The event will take place in New York City. Investors can access a live audio-webcast on the company's Investor Relations website, and a replay will be available for 90 days. As of June 30, 2022, Sun owned or operated 661 MH, RV, and marina properties, providing over 180,300 developed sites across multiple locations.
Sun Communities, Inc. announces key leadership changes effective December 31, 2022. Bruce Thelen, Executive VP of Operations and Sales, is promoted to Chief Operating Officer. John McLaren will transition to oversee manufactured housing development while Gary Shiffman shifts from CEO to President. Thelen has been with Sun since 2018, focusing on operations in manufactured housing and RV sectors. The company, as of June 30, 2022, owned 661 properties with nearly 180,300 sites across North America and the UK.
Sun Communities, Inc. (SUI) announced its third quarter 2022 earnings release date, set for October 24, 2022, after market close. A conference call to discuss the results will occur on October 25, 2022, at 11:00 A.M. ET. As of June 30, 2022, the company owned and operated a total of 661 properties, including manufactured housing communities, RV resorts, and marinas, offering over 180,300 developed sites and over 45,900 wet slips and dry storage spaces across 39 states, Canada, Puerto Rico, and the UK.
Sun Communities, Inc. (NYSE: SUI) has declared a quarterly distribution of $0.88 per share for Q3 2022. The payout is set for October 14, 2022, to shareholders recorded by September 30, 2022. As of June 30, 2022, the company manages 661 properties across the US, Canada, Puerto Rico, and the UK, comprising over 180,300 sites and over 45,900 wet slips and storage spaces.
Sun Communities, Inc. (SUI) reported a 34.8% increase in total revenues for Q2 2022, reaching $814.3 million, but net income dropped to $74 million, or $0.61 per share, down from $110.8 million, or $0.98 per share, in Q2 2021. For the six months ending June 30, 2022, revenues increased by 30.3% to approximately $1.4 billion, while net income decreased to $74.7 million, or $0.63 per share. Core FFO rose by 12.2% to $2.02 per share. The company revised its full-year guidance for earnings per share down to $1.91 - $2.01 and maintained Core FFO guidance at $7.22 - $7.32.
Sun Communities reported a 34.8% increase in total revenues for Q2 2022, amounting to $814.3 million, up from $603.9 million in Q2 2021. Despite this revenue growth, net income attributable to common shareholders declined to $74.0 million, or $0.61 per diluted share, from $110.8 million, or $0.98 per diluted share, in the previous year. Core Funds from Operations rose by 12.2% to $2.02 per diluted share. The company's UK operations contributed $40.5 million in NOI during the quarter. However, full-year earnings guidance was reduced from $2.46-$2.58 to $1.91-$2.01 per share.
Sun Communities, a real estate investment trust (REIT), announced a UK Investor Day and Property Tour presentation on June 21, 2022, hosted by CEO Gary A. Shiffman and Park Holidays CEO Jeff Sills. Investors can listen live via audio dial-in numbers provided. A video playback will be available on the company’s website within 48 hours post-event. As of March 31, 2022, Sun Communities owned or had an interest in 603 properties with nearly 159,300 sites across the US, Canada, Puerto Rico, and the UK.
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