Sun Communities, Inc. (NYSE:SUI) Q2 2024 Earnings Conference Call August 1, 2024 2:00 PM ET Company Participants Gary Shiffman - Chairman, President and CEO Fernando Castro-Caratini - Chief Financial Officer Aaron Weiss - Executive Vice President, Corporate Strategy and Business Development Conference Call Participants Michael Goldsmith - UBS Brad Heffern - RBC Capital Markets Samir Khanal - Evercore ISI John Pawlowski - Green Street Josh Dennerlein - Bank of America Eric Wolfe - Citi John Kim - BMO Capital ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number: 1-12616 SUN COMMUNITIES, INC (Exact Name of Registrant as Specified in its Charter) Maryland 38-2730780 (State of Incorporation) ...

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 ...

Net Income per Diluted Share of $0.42 for the Quarter Core FFO per Share of $1.86 for the Quarter North America Same Property NOI increased by 3.6% for the Quarter and 5.6% for the First Six Months of 2024 versus corresponding 2023 Periods North America Same Property Adjusted Blended Occupancy for MH and RV of 98.7% represents a 150 basis point year-over-year increase Reiterating Full-Year Core FFO per Share Guidance for 2024 of $7.06 - $7.22 Full-Year North America Same Property NOI Growth Guidance Range o ...

SUND EARNINGS PRESS RELEASE & SUPPLEMENTAL OPERATING & FINANCIAL DATA Second Quarter 2024 NYSE:SUI Sun Communities, Inc. Earnings Press Release & Supplemental Operating and Financial Data For the Quarter and Six Months Ended June 30, 2024 and 2023 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------|-------| | | Page | | Forward-Looking Statements | i | | | | | Earnings Press Release and Guidance | ii | | | | | Over ...

The time has come for an update on Sun Communities, Inc. (NYSE:SUI). Sun Communities - Continued Upside from Single-Family REITs Rental Revenue Breakdown The company has a long and solid track record of growth, it has stable and resilient operating fundamentals (MH/RV communities are not exactly in low demand, and marina space is always limited), and like most good REITs, it's at least BBB rated. The company's revenue is 88%-rental focused, with 8% home sales and the rest in service, retail, dining, and ent ...

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 ...

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 ...

JamesBrey Introduction Net operating income breakdown in 2024 (Sun Communities May 2024 presentation) Operational Overview Sun Communities reports occupancy separately for the US/Canada and the UK, with the US/Canada MH and RV occupancy at 97.5% at the end of Q1 2024, up 0.6% Y/Y. In contrast, UK occupancy stood at 88.9%, down 1.2% Y/Y, indicating severe distress and underperformance of the UK portfolio. Core FFO was $1.19/share in the quarter, down 3% Y/Y, driven by higher services and interest expenses, p ...