BOSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Sun Communities, Inc. (NYSE: SUI) for potential securities law violations. Investors who have lost money in their Sun Communities, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/sui. What is this all about? Shares of Sun Communities are down following the release of a Blue Orca Capital report on September 25, 2024. The report alle ...

Sui (SUI, Financial) has seen a recent downward movement in its stock price, with a decline of 2.17%, reflecting a percentage change of -1.67%. This decline comes amid significant activity in Sui's cryptocurrency counterpart. Beyond its stock trajectory, Sun Communities Inc (SUI, Financial), a real estate investment trust (REIT) specializing in manufactured housing and marinas, showcases interesting financial dynamics. Currently priced at $127.60, it holds a market capitalization of approximately $15.91 bil ...

Group 1 - Sun Communities, Inc. is under investigation for potential securities law violations following a report by Blue Orca Capital alleging undisclosed loans involving the CEO and a board member [2][4] - The report claims that the CEO had a $4 million undisclosed loan from the family of a purported independent director who has been on the Audit Committee and chaired the Compensation Committee for over a decade [2] - Block & Leviton is actively seeking investors who have lost money in Sun Communities, Inc. to potentially recover their losses [1][3][4] Group 2 - Investors who purchased Sun Communities, Inc. common stock and experienced a decline in share value may be eligible to participate in the investigation [3] - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors [7] - The firm encourages whistleblowers with non-public information about Sun Communities, Inc. to assist in the investigation, with potential rewards for original information provided to the SEC [6]

Core Viewpoint - Sun Communities, Inc. has reported no significant damage to its properties from Hurricane Helene and does not anticipate a major impact on its financial performance [1][2]. Company Overview - As of June 30, 2024, Sun Communities, Inc. owned, operated, or had an interest in a portfolio of 666 developed properties, which includes approximately 181,760 developed sites and around 48,140 wet slips and dry storage spaces across the United States, Canada, and the United Kingdom [4]. Response to Hurricane Helene - The company has initiated clean-up and restoration efforts at all affected communities and marinas, with assessments still in the early stages [2]. - The safety and well-being of residents, guests, and team members is prioritized, and the company's preparedness plan facilitated a swift response to the storm [3]. Leadership Statement - Gary Shiffman, Chairman and CEO, emphasized the strength and dedication of the team in managing the aftermath of the storm and expressed solidarity with those affected by Hurricane Helene [3].

SAN DIEGO, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of securities laws by Sun Communities (NYSE: SUI). We are looking into whether the Company or its executives failed to disclose vital information to investors, leading to losses on their investments. If you have purchased Sun Communities securities and have experienced losses, we encourage you to join our investigation to potentially make claims and recover under federal securi ...

Southfield, MI, Sept. 03, 2024 (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 and marinas (collectively, the "properties"), today announced its Board of Directors declared a quarterly distribution of $0.94 per share of common stock for the third quarter of 2024. The distribution is payable on October 15, 2024 to shareholders of ...

Sun Communities (SUI) came out with quarterly funds from operations (FFO) of $1.86 per share, missing the Zacks Consensus Estimate of $1.87 per share. This compares to FFO of $1.96 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of -0.53%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.16 per share when it actually produced FFO of $1.19, delivering a surprise of 2.59%. Over the last four qu ...

Core Insights - Sun Communities, Inc. reported a net income of $52.1 million, or $0.42 per diluted share for Q2 2024, a significant recovery from a net loss of $207.6 million, or $1.68 per diluted share in Q2 2023 [1][18] - The company reaffirmed its full-year Core FFO per share guidance for 2024 in the range of $7.06 - $7.22, with a third-quarter guidance of $2.46 - $2.56 [1][6] - North America Same Property NOI increased by 3.6% for Q2 2024 and 5.6% for the first half of 2024 compared to the same periods in 2023 [1][3] Financial Performance - Core FFO per share for Q2 2024 was $1.86, down from $1.96 in Q2 2023, while for the first half of 2024, it was $3.05 compared to $3.19 in the same period last year [1][18] - North American Same Property NOI increased by $10.4 million for Q2 2024 and $29.8 million for the first half of 2024, representing growth rates of 3.6% and 5.6%, respectively [1][3] - UK Same Property NOI saw a notable increase of 9.3% for Q2 2024 and 19.4% for the first half of 2024 compared to the same periods in 2023 [1][3] Operational Highlights - The occupancy rate for manufactured housing (MH) and annual RV sites in North America reached 97.5% as of June 30, 2024, up from 97.1% a year earlier [2] - The company converted approximately 920 transient RV sites to annual RV sites during Q2 2024, marking a 22.7% increase from the same quarter in 2023 [2] - The Same Property adjusted blended occupancy for MH and RV increased by 150 basis points year-over-year to 98.7% as of June 30, 2024 [5] Investment Activity - In July 2024, the company sold a portfolio of six MH properties for $224.6 million, with an estimated gain of approximately $140 million, using proceeds to pay down debt [6] - The company also acquired a marina property and two marina expansion assets for $12 million in April 2024, and a parcel of land in the UK for $9.6 million in June 2024 [6] Balance Sheet and Debt Management - As of June 30, 2024, the company had $7.9 billion in debt outstanding with a weighted average interest rate of 4.2% and a weighted average maturity of 6.5 years [6] - The Net Debt to trailing twelve-month Recurring EBITDA ratio was reported at 6.2 times, improving to 6.0 times pro forma for recent property dispositions and debt repayments [6][18] Guidance and Future Outlook - The company updated its full-year guidance for Same Property NOI growth in North America to a range of 4.7% - 5.7%, maintaining a midpoint of 5.2% [6] - In the UK, the Same Property NOI growth guidance was revised upward to a range of 8.6% - 10.4% for the full year, reflecting strong annual rental income performance [6][9]

Southfield, MI, July 01, 2024 (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 and recreational vehicle communities and marinas (collectively, the "properties"), announces it will release second quarter 2024 operating results after the market closes on Wednesday, July 31, 2024. The Company will host a conference call to discuss these results on Thursday, August 1, 2024, at 2:00 P ...

Southfield, MI, June 03, 2024 (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 and marinas (collectively, the "properties"), today announced its Board of Directors declared a quarterly distribution of $0.94 per share of common stock for the second quarter of 2024. The distribution is payable on July 15, 2024 to shareholders of rec ...