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. (NYSE: SUI) is a real estate investment trust (REIT) that owns and operates, or has an interest in, manufactured housing ("MH") and recreational vehicle ("RV") communities in the United States, Canada, and the United Kingdom. The company’s news flow in 2025 highlights its focus on MH and RV communities, portfolio performance, capital allocation, and leadership transitions.
On this page, readers can follow SUI news related to quarterly and annual financial results, including net income, Core Funds from Operations ("Core FFO") per share, Same Property Net Operating Income ("NOI") trends, and occupancy metrics for MH and RV sites in North America and communities in the UK. Sun Communities regularly issues press releases summarizing its results for each quarter, along with updated guidance ranges for diluted EPS and Core FFO per share and Same Property NOI growth expectations.
Investors can also track news about Sun Communities’ strategic actions, such as the completion of the sale of its Safe Harbor Marinas business, the use of sale proceeds for debt reduction, special cash distributions, regular distribution increases, and stock repurchase activity. Additional updates cover investment activity, including dispositions of RV and MH properties, acquisitions of MH and RV communities, and repurchases of UK property titles previously held under ground leases.
Governance and management developments are another key news category. In 2025, Sun Communities announced a CEO transition, with the appointment of Charles D. Young as Chief Executive Officer and the planned retirement of the prior CEO from that role, as well as the appointment of Mark E. Patten as Chief Financial Officer. The company also publishes notices of upcoming earnings releases and conference calls, providing schedules and access details. For investors and observers of residential REITs focused on MH and RV communities, this news page offers a centralized view of Sun Communities’ operational, financial, and leadership updates.
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.
Sun Communities (NYSE:SUI) has released the tax treatment details for its 2024 common share distributions. The company paid quarterly dividends totaling $3.75 per share throughout 2024, with individual payments of $0.93 in January and $0.94 in April, July, and October.
The distributions were categorized as follows: $1.976298 per share as Ordinary Taxable Dividend, $1.631226 per share as Total Capital Gain Distribution, $0.273236 per share as Unrecaptured Section 1250 Gain, and $0.142476 per share as Non-Dividend Distribution. No Qualified Taxable Dividends were declared.
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.
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