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 REIT specializing in manufactured housing communities, RV resorts, and marina properties. This page provides investors and industry observers with verified updates on SUI's financial performance, strategic initiatives, and market positioning within the recreational real estate sector.
Access curated press releases and news articles covering quarterly earnings, property acquisitions, and operational enhancements. Our repository serves as a centralized source for tracking SUI's growth in affordable housing solutions and vacation property management.
Key coverage areas include updates on portfolio expansions, leadership developments, and industry-specific trends affecting manufactured housing communities. Regular updates offer insights into SUI's disciplined approach to maintaining high occupancy rates and optimizing its waterfront-adjacent assets.
Bookmark this page for efficient access to Sun Communities' official communications, enabling informed analysis of its niche-focused REIT strategy and long-term value creation in recreational living markets.
Sun Communities has announced the complete redemption of two series of senior notes through its operating partnership. The company will redeem $500 million of 5.500% Senior Notes due 2029 at $1,061.53 per $1,000 principal amount, and $400 million of 5.700% Senior Notes due 2033 at $1,085.88 per $1,000 principal amount.
The redemption is scheduled for May 10, 2025, when interest will cease to accrue on both note series. The redemption prices include a make-whole premium and accrued unpaid interest. Sun Communities plans to fund this redemption using proceeds from its previously announced Safe Harbor Marinas sale.
The company has already initiated the redemption process, with notices sent to all registered noteholders by the indenture trustee. This strategic financial move demonstrates Sun Communities' active management of its debt obligations and utilization of asset sale proceeds to strengthen its financial position.
Sun Communities has completed the initial sale of Safe Harbor Marinas to Blackstone Infrastructure for approximately $5.25 billion in pre-tax cash proceeds. The deal transforms Sun into a pure-play manufactured housing (MH) and recreational vehicle (RV) focused company.
Key financial actions include:
- Debt reduction of $3.3 billion, leading to $160 million in annual interest savings
- $1.0 billion allocated for future MH and RV acquisitions
- Special cash distribution of $4.00 per share ($520 million total)
- 10.6% increase in quarterly distribution to $1.04 per share
- New $1.0 billion stock buyback program
Properties worth $250 million remain pending sale, subject to third-party approvals. The company aims to maintain a leverage ratio of 3.5x to 4.5x long-term and expects to reduce its weighted average interest rate to 3.5%.
Sun Communities (NYSE: SUI), a REIT specializing in manufactured housing, RV communities, and marinas, has scheduled its first quarter 2025 earnings release for Monday, May 5, 2025 after market close.
The company will host a conference call to discuss the results on Tuesday, May 6, 2025, at 11:00 A.M. ET. Investors can participate via phone using U.S. and Canada toll-free number (877) 407-9039 or international number (201) 689-8470. The call will also be available live on suninc.com.
A replay will be accessible through May 20, 2025, using U.S. and Canada number (844) 512-2921 or international number (412) 317-6671 with passcode 13752708.
Sun Communities (NYSE: SUI), a real estate investment trust specializing in manufactured housing, RV communities, and marinas, has announced its quarterly dividend distribution for Q1 2025. The company's Board of Directors has declared a dividend of $0.94 per share of common stock. The distribution will be payable on April 15, 2025 to shareholders of record as of March 31, 2025.
Sun Communities (NYSE: SUI) has nominated Mark A. Denien as an independent director candidate for its Board of Directors. Denien brings over 30 years of experience in real estate transactions, capital markets, and strategic leadership.
Currently serving on Acadia Realty Trust's Board, Denien previously held executive positions at Duke Realty from 2005 to 2022, most recently as EVP and CFO. During his tenure as CFO (2013-2022), Duke Realty achieved a 500% total shareholder return and secured important credit rating upgrades.
If elected, Denien will join SUI's Audit Committee, leveraging his extensive background from KPMG (16 years) and his proven track record in financial stewardship. His nomination aligns with the company's strategy to enhance Board expertise in finance and real estate sectors.
Sun Communities (NYSE: SUI), a REIT specializing in manufactured housing, RV communities, and marinas, has announced its participation in the 2025 Citi Global Property CEO Conference. Gary A. Shiffman, Chairman and CEO, will deliver a presentation on Monday, March 3, 2025, at 1:30 p.m. EST in Hollywood, Florida.
Investors can access a live audio webcast of the presentation in listen-only mode through the Events Calendar section on www.suninc.com/event-calendar. The webcast recording will remain available for 90 days following the presentation.
Sun Communities (NYSE: SUI) reported mixed financial results for Q4 and full year 2024. The company posted a Q4 net loss of $224.4 million (-$1.77 per share), while achieving full-year net income of $89.0 million ($0.71 per share). Core FFO reached $1.41 per share for Q4 and $6.81 for the full year.
Notable operational highlights include a 5.7% increase in North American Same Property NOI for Q4 and 4.1% for the full year. The company maintained strong occupancy with 98% in MH and annual RV sites, representing a 160 basis point year-over-year improvement. During Q4, MH and annual RV revenue producing sites increased by 710.
The company announced the sale of Safe Harbor Marinas for $5.65 billion, expected to close in Q2 2025, with proceeds targeted for debt reduction, shareholder distributions, and core business reinvestment. For 2025, SUI projects North American Same Property NOI growth of 4.3-5.6% and UK Same Property NOI growth of 0.9-2.9%.
Blackstone (NYSE: BX) has announced the acquisition of Safe Harbor Marinas from Sun Communities for $5.65 billion. Safe Harbor is the largest marina and superyacht servicing business in the United States, operating 138 marinas across the U.S. and Puerto Rico.
The acquisition aligns with Blackstone Infrastructure's strategy of investing in sectors with strong tailwinds, particularly the growing travel and leisure industry and population shifts to coastal cities. Blackstone Infrastructure has shown significant growth, managing $55 billion in assets and achieving approximately 40% year-over-year growth since inception.
Wells Fargo served as lead financial advisor and provided committed financing for the transaction, while Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP acted as legal advisors.
Sun Communities (NYSE: SUI) has announced the sale of Safe Harbor Marinas to Blackstone Infrastructure for $5.65 billion in an all-cash transaction. The deal represents a 21x multiple on Safe Harbor's estimated 2024 FFO and is expected to generate approximately $5.5 billion in pre-tax proceeds after transaction costs.
The strategic sale will reposition Sun as a pure-play MH and RV focused REIT, with these segments expected to account for about 90% of the Company's NOI post-transaction. The deal will significantly improve Sun's leverage profile, reducing its net debt to EBITDA ratio from 6.0x to between 2.5x and 3.0x at closing.
The transaction, expected to close in Q2 2025, will generate an estimated book gain of $1.3 billion from Sun's four-year ownership of Safe Harbor. The proceeds will be used for debt reduction, shareholder distributions, and reinvestment in core businesses.
Sun Communities (NYSE: SUI), a REIT specializing in manufactured housing, RV communities, and marinas, has announced its upcoming fourth quarter 2024 earnings release schedule. The company will release its Q4 2024 operating results after market close on Wednesday, February 26, 2025.
A conference call to discuss the results is scheduled for Thursday, February 27, 2025, at 2:00 P.M. ET. Investors can participate via phone (U.S./Canada: 877-407-9039; International: 201-689-8470) or through the company's website. A replay will be available until March 13, 2025, using passcode 13751363.
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