Sun Communities, Inc. Declares Fourth Quarter 2024 Distribution

Rhea-AI Summary

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.

Positive

• Maintained consistent quarterly dividend distribution of $0.94 per share

Negative

• None.

Insights

Financial Analyst

The $0.94 quarterly dividend announcement maintains Sun Communities' consistent distribution policy, representing an annualized dividend of $3.76 per share. With the current market cap of $16.3 billion, this translates to a dividend yield of approximately 3.5%. For a REIT specializing in manufactured housing and RV communities, this yield aligns with industry standards and reflects the company's stable cash flow generation from its diversified property portfolio. The maintained dividend level signals management's confidence in the company's operational stability and financial health, particularly important in the current higher interest rate environment where REITs face increased borrowing costs.

Southfield, MI, Dec. 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 (“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 fourth quarter of 2024. The distribution is payable on January 15, 2025 to shareholders of record on December 31, 2024.

About Sun Communities, Inc.

Sun Communities, Inc. is a REIT that, as of September 30, 2024, owned, operated, or had an interest in a portfolio of 659 developed properties comprising approximately 179,130 developed sites and approximately 48,760 wet slips and dry storage spaces in the United States, Canada, and the United Kingdom.

For Further Information at the Company:

Fernando Castro-Caratini
Chief Financial Officer
(248) 208-2500
www.suninc.com

FAQ

What is Sun Communities' (SUI) dividend payment for Q4 2024?

Sun Communities (SUI) declared a quarterly dividend of $0.94 per share for Q4 2024.

When is Sun Communities' (SUI) Q4 2024 dividend payment date?

Sun Communities' Q4 2024 dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024.

What types of properties does Sun Communities (SUI) own and operate?

Sun Communities owns and operates manufactured housing communities, recreational vehicle communities, and marinas.