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) announced its acquisition of Park Holidays UK for approximately £950 million ($1.3 billion). This move is strategic as Park Holidays operates 40 communities in prime seaside locations in the UK, bolstering Sun’s portfolio and diversifying its geographic presence. The acquisition is projected to be accretive to 2022 Core FFO per share, representing around 7% of Sun’s properties. The holiday park sector, valued at around £5 billion, is experiencing consistent growth, supported by rising demand for domestic vacations.
Sun Communities (NYSE: SUI) reported impressive financial results for Q3 2021, with total revenues soaring 70.9% to $684.3 million, compared to $400.5 million in the same quarter of 2020. Net income attributable to common stockholders surged 185.4% to $231.8 million, or $2.00 per diluted share. Year-to-date, the Company executed $1.1 billion in acquisitions and experienced a 63.7% increase in home sales volume. Portfolio occupancy climbed to 97.4%. The Company revised its 2021 guidance upwards, anticipating a Core FFO of $6.44 - $6.50 per diluted share.
Sun Communities, Inc. (NYSE: SUI) announced the appointment of Aaron Weiss as Executive Vice President of Corporate Strategy and Business Development, effective October 18, 2021. This new role will report directly to Gary A. Shiffman and John B. McLaren. Weiss brings substantial experience from his previous role at Citigroup, where he advised numerous clients, including Sun. His expertise in real estate and lodging is expected to facilitate the company’s strategic growth and operational expansion.
Sun Communities, Inc. has announced a public offering of $450 million in 2.300% senior notes due 2028 and $150 million in 2.700% senior notes due 2031.
The offerings aim to refinance debt, fund future acquisitions, and support general corporate purposes. The notes will close around October 5, 2021, with Citigroup and J.P. Morgan acting as lead managers. This follows a previous issuance of $600 million of similar notes in June 2021. As of June 30, 2021, Sun Communities managed a portfolio of 569 properties across 39 states and Ontario, Canada.
Sun Communities, Inc. (NYSE:SUI) has announced the schedule for its third quarter 2021 earnings release. The results will be published on October 25, 2021, after market closure, followed by a conference call on October 26, 2021, at 11:00 A.M. ET. Investors can participate by dialing in or accessing the call via the company’s website. As of June 30, 2021, Sun Communities owned or had interests in 569 properties across 39 states and Ontario, totaling over 153,300 developed sites.
On September 1, 2021, Sun Communities, Inc. (NYSE:SUI) announced a quarterly dividend of $0.83 per share for Q3 2021. This will be payable on October 15, 2021, to shareholders of record as of September 30, 2021. The company is a REIT specializing in manufactured housing, RV resorts, and marinas, with a portfolio of 569 developed properties across 39 states and Ontario, Canada, totaling over 153,300 developed sites and nearly 41,300 wet slips and dry storage spaces.
Sun Communities, Inc. (SUI) reported robust second quarter results for 2021, with total revenues soaring 99.1% to $603.9 million and net income rising 88% to $110.8 million. Year-to-date revenues reached $1 billion, up 70.5%. Core FFO increased by 60.7% to $1.80 per share. Home sales surged 89.5% with 1,158 homes sold. The company acquired $719.4 million in properties, enhancing growth potential. Portfolio occupancy stood at 97.4%, with same community NOI rising by 21.6%. Revised guidance for FY 2021 includes EPS of $2.24 - $2.36 and Core FFO of $6.25 - $6.37.
Sun Communities, Inc. (SUI) has announced a public offering of $600 million in 2.700% senior notes due 2031, priced at 99.467% of principal, yielding 2.761%. The offering will close around June 28, 2021. Proceeds will be used to repay credit facility borrowings, fund potential property acquisitions, and for general corporate purposes. Citigroup, J.P. Morgan, and BofA Securities lead the offering. The company owns 562 MH, RV, and marina properties across 39 states and Ontario, Canada, managing over 151,600 sites and nearly 38,800 storage spaces.
Sun Communities, Inc. (NYSE: SUI) announced on June 14, 2021, that it has achieved investment grade ratings from S&P Global Ratings (BBB) and Moody's Investor Service (Baa3), both with stable outlooks. This recognition reflects the Company’s robust balance sheet management, strong operational history, and industry-leading status. CEO Gary Shiffman highlighted that these ratings will enhance the Company’s growth strategy, providing improved access to capital and lower costs. As of March 31, 2021, Sun Communities operates 562 properties across 39 states and Ontario, Canada.
Sun Communities, Inc. (NYSE: SUI), a leading real estate investment trust focused on manufactured housing and recreational vehicle communities, announced that its Chairman and CEO, Gary A. Shiffman, will present at Nareit’s REITweek 2021 Investor Conference on June 8, 2021, at 3:00 p.m. EDT. Interested investors can access the live audio-webcast on the company’s Investor Relations website.
As of March 31, 2021, Sun Communities owned or had an interest in 562 properties across 39 states and Ontario, Canada, totaling over 151,600 developed sites.
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