Sun Communities Stock Price, News & Analysis

Sun Communities, Inc. (NYSE: SUI) has announced the promotion of Fernando Castro-Caratini to Chief Financial Officer, effective May 2, 2022. He will succeed Karen Dearing, who will transition to a role focusing on the integration of the company’s UK acquisitions. Castro-Caratini has been pivotal in financial strategy since joining in 2016. Dearing reflects on her 14-year tenure as CFO and looks forward to integrating UK operations. The company continues to focus on strategic growth opportunities amid a changing market landscape.

Sun Communities (NYSE:SUI) has finalized its acquisition of Park Holidays UK for approximately £950 million ($1.3 billion), adding 40 owned and 2 managed communities in prime seaside locations in the UK. The deal was partially financed through $33 million in common stock and cash. This acquisition marks a strategic expansion into the UK market, allowing Sun to leverage synergies with its existing business model. The integration aims to enhance the holiday park experience, aligning with Sun's growth strategy and contributing to its earnings guidance.

Sun Communities, Inc. (NYSE: SUI) announced a public offering of $600 million senior notes due 2032 with an interest rate of 4.200%. The notes are priced at 99.442% of the principal amount, yielding an effective maturity rate of 4.269%. Proceeds will be utilized to repay existing debt, finance property acquisitions, and for general corporate purposes. This offering is estimated to close on April 12, 2022. Leading banks such as Citigroup and J.P. Morgan are managing this offering. Sun Communities operates a diverse portfolio of over 602 properties across multiple regions.

Sun Communities, Inc. (NYSE:SUI) has announced its first quarter 2022 earnings release and conference call schedule. The earnings report will be made public on April 25, 2022, following market closure. A conference call is set for April 26, 2022, at 11:00 A.M. ET, to discuss the financial results. Interested participants can join via dial-in numbers provided, and the call will be streamed live on the company’s website. As of December 31, 2021, Sun Communities owned or managed 602 properties across 39 states, Canada, and Puerto Rico, with over 159,000 developed sites.

Sun Communities (NYSE:SUI) announced a quarterly dividend of $0.88 per share for Q1 2022. This distribution is payable on April 15, 2022, to shareholders on record as of March 31, 2022. As of December 31, 2021, Sun Communities owns or operates 602 properties, which include manufactured housing communities, RV resorts, and marinas across 39 states, Canada, and Puerto Rico, with over 159,000 developed sites and over 45,000 storage spaces.

Sun Communities, Inc. (NYSE:SUI), a real estate investment trust, announced that Chairman and CEO Gary A. Shiffman will present at the 2022 Citi Global Property CEO Conference on March 8, 2022, at 2:00 PM EST. The event will take place in Hollywood, Florida. Investors can listen to the live audio-webcast in the Events Calendar on the Company's website, with a replay available for 90 days. As of December 31, 2021, Sun Communities owned or operated 602 properties, comprising over 159,000 sites and 45,000 wet slips and dry storage spaces across 39 states, Canada, and Puerto Rico.

Sun Communities, Inc. (NYSE: SUI) reported strong Q4 2021 results with total revenues up 41.2% to $542.4 million and net income attributable to common stockholders increasing by 69.1% to $12.8 million. For the full year, revenues rose 62.5% to $2.3 billion, while net income surged 188.8% to $380.2 million. Core FFO for Q4 stood at $1.31 per share, a 12.9% increase year-over-year. The company also acquired properties worth $385.4 million and announced the planned acquisition of Park Holidays UK for approximately $1.3 billion, expected to close in March 2022.

Sun Communities, Inc. (NYSE:SUI) announced a 6.0% increase in its annual distribution rate, raising it from $3.32 to $3.52 per common share for 2022. This change will take effect with the first quarter distribution in April 2022. As of September 30, 2021, the company managed 584 properties, totaling nearly 155,900 developed sites across the U.S., Canada, and Puerto Rico. The Board of Directors will approve each quarterly distribution amount.

Sun Communities, Inc. (NYSE:SUI) announced the tax treatment of its 2021 common share distributions. The total capital gain distribution for 2021 was $3.280 per share, out of which $2.311487 was classified as ordinary taxable dividends. Shareholders received $0.790 per share on January 15, 2021, followed by distributions of $0.830 on April 15, July 15, and October 15, totaling $3.280. Investors are advised to consult tax advisors regarding the specific tax treatment for these distributions.

As of September 30, 2021, SUI owned or operated 584 properties with nearly 155,900 developed sites.