Sun Communities Announces Chief Financial Officer Transition
Sun Communities (NYSE: SUI) announced an immediate Chief Financial Officer transition: Fernando Castro-Caratini has assumed the role on an interim basis following the departure of Mark E. Patten.
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Rhea-AI Summary
Sun Communities (NYSE: SUI) announced an immediate Chief Financial Officer transition: Fernando Castro-Caratini has assumed the role on an interim basis following the departure of Mark E. Patten.
The company said it is conducting a broad search for a permanent CFO, reaffirmed its 2025 guidance ranges, and will release Q4 2025 results after market close on Feb 24, 2026, with a conference call on Feb 25, 2026 at 11:00 A.M. ET.
Positive
- Interim CFO Fernando Castro‑Caratini appointed immediately
- Interim CFO has prior Sun CFO experience and tenure since 2016
- Company reaffirmed its 2025 guidance ranges
- Q4 2025 results scheduled for release Feb 24, 2026
Negative
- Departure of Mark E. Patten creates CFO vacancy for permanent hire
- Broad external search for permanent CFO may create near‑term leadership uncertainty
Details
News Market Reaction – SUI
On Feb 5, the first trading day after this news, SUI closed 3.31% below the previous close.
Data tracked by StockTitan Argus for the Feb 5 session.
Key Figures
- Interim CFO start
- Feb 4, 2026
- Effective date of Fernando Castro-Caratini assuming interim CFO role
- Prior CFO start
- Jan 5, 2026
- Effective date previously announced for Mark E. Patten as CFO in prior release
- Company tenure
- Since 2016
- Fernando Castro-Caratini’s tenure at Sun Communities
- 2025 guidance
- Reaffirmed
- Company reaffirmed previously issued 2025 Guidance ranges
- Q4 2025 release date
- Feb 24, 2026
- Planned release of Fourth Quarter 2025 operating results after market close
- Q4 2025 call
- Feb 25, 2026, 11:00 A.M. ET
- Scheduled conference call to discuss Q4 2025 results
- REIT focus
- MH and RV communities
- Portfolio focused on manufactured housing and recreational vehicle properties
- Pre-news price
- $127.92
- Share price before the CFO transition announcement
Historical Context
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Outlined tax characterization of $7.96 per-share 2025 distributions for shareholders.
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Named Mark E. Patten as new CFO with extensive REIT and capital markets experience.
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Reported Q3 2025 Core FFO of $2.28 and raised full-year Core FFO and NOI guidance.
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Announced timing and access details for the Q3 2025 earnings release and call.
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Disclosed $1,000,000 common stock inducement award for incoming CEO Charles D. Young.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
real estate investment trust financial
reit financial
manufactured housing technical
recreational vehicle technical
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Southfield, MI, Feb. 04, 2026 (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 (collectively, the "properties"), today announced a leadership transition. Effective immediately, following the departure of Mark E. Patten, Fernando Castro-Caratini has assumed the role of Chief Financial Officer on an interim basis. The Company is conducting a broad search to identify a permanent Chief Financial Officer.
Mr. Castro-Caratini, who joined Sun in 2016, had been serving as a senior advisor to Sun and previously served as its Chief Financial Officer. The Board of Directors believes that Mr. Castro-Caratini’s deep familiarity with the Company’s business, operations, and financial statements and related processes will support the continued successful execution of the Company’s strategic priorities.
Mr. Patten’s departure was a mutual decision and is not the result of any disagreements related to the Company’s financial policies, including any accounting principles and practices, or related to any financial statements or disclosures.
In conjunction with this transition announcement, the Company is reaffirming the 2025 Guidance ranges it provided in its Third Quarter 2025 earnings release on October 29, 2025.
As previously announced, the Company will release Fourth Quarter 2025 operating results after the market closes on Tuesday, February 24, 2026. The Company will host a conference call to discuss these results on Wednesday, February 25, 2026, at 11:00 A.M. ET.
About Sun Communities, Inc.
Sun Communities, Inc. is a REIT that, as of September 30, 2025, owned, operated, or had an interest in a portfolio of 501 developed properties comprising approximately 174,680 developed sites in the United States, Canada, and the United Kingdom.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Company intends that such forward-looking statements will be subject to the safe harbors created thereby. For this purpose, any statements contained in this press release that relate to expectations, beliefs, projections, future plans and strategies, trends or prospective events or developments and similar expressions concerning matters that are not historical facts are deemed to be forward-looking statements. Words such as “forecasts,” “intend,” “goal,” “estimate,” “expect,” “project,” “projections,” “plans,” “predicts,” “potential,” “seeks,” “anticipates,” “should,” “could,” “may,” “will,” “designed to,” “foreseeable future,” “believe,” “scheduled,” "guidance", "target" and similar expressions are intended to identify forward-looking statements, although not all forward looking statements contain these words. These forward-looking statements reflect the Company’s current views with respect to financial results and performance and future events, but involve known and unknown risks, uncertainties and other factors, both general and specific to the matters discussed in or incorporated herein, some of which are beyond the Company’s control. These risks, uncertainties and other factors may cause the Company’s actual results to be materially different from any future results expressed or implied by such forward-looking statements. Details of potential risks that may affect the Company are described in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission, including in the “Risk Factors” section in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in its Quarterly Report on Form 10-Q for the three months ended March 31, 2025.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements included or incorporated by reference into this document, whether as a result of new information, future events, changes in the Company's expectations or otherwise, except as required by law.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. All written and oral forward-looking statements attributable to the Company or persons acting on the Company's behalf are qualified in their entirety by these cautionary statements.
For Further Information at the Company:
Sun Communities Investor Relations Team
investorrelations@suncommunities.com
(248) 208-2500
www.suninc.com
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