Sun Communities Stock Price, News & Analysis

Sun Communities, Inc. (NYSE: SUI) appointed Jeff Blau as an independent director on its Board, effective January 25, 2023. Blau, CEO of Related Companies, brings over 33 years of experience in real estate, overseeing developments worth over $60 billion. His leadership is expected to enhance the strategic direction of Sun Communities. The company, a REIT, operates a portfolio of 662 properties across multiple regions, with over 180,500 developed sites as of September 30, 2022. This move aims to strengthen governance and drive future growth amid ongoing market challenges.

Southfield, MI, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) announced the tax treatment of its 2022 common share distributions. The total capital gain distribution is $3.470000 per share, while ordinary taxable dividends include $2.554543 per share, with qualified and unqualified dividends also detailed. Notably, the company had several distribution dates and amounts throughout 2022, with shareholders encouraged to consult tax advisors regarding the specific treatment of these distributions. As of September 30, 2022, the company owned an interest in 662 properties across various locations.

Sun Communities, Inc. (NYSE: SUI) announced a public offering of $400 million in 5.700% senior notes due 2033. The notes are priced at 99.729% of the principal amount, providing an effective yield of 5.736%. Proceeds will be used to repay borrowings, fund future acquisitions, and for general corporate purposes. The offering is expected to close around January 17, 2023. This follows Sun Communities' portfolio of 662 properties across the U.S., U.K., Canada, and Puerto Rico, including 352 manufactured housing (MH) and 179 recreational vehicle (RV) communities.

Sun Communities, Inc. (NYSE: SUI) announced its fourth quarter 2022 earnings release date, set for February 22, 2023, after market close. The conference call to discuss these results will occur on February 23, 2023, at 11:00 A.M. ET. This REIT operates a diverse portfolio of 662 properties, including manufactured housing and RV resorts, totaling over 180,500 developed sites across 39 states and additional locations in Canada, the UK, and Puerto Rico.

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.