Sun Communities IncSUI
What Sun Communities Inc does.
Sun Communities, Inc., and all wholly-owned or majority-owned and controlled subsidiaries, including Sun Communities Operating Limited Partnership, a Michigan limited partnership (the "Operating Partnership"), Sun Home Services, Inc. ("SHS"), and our Park Holidays subsidiaries and the other entities through which we operate our business in the United Kingdom ("UK") are referred to herein as the "Company," "SUI," "us," "we," or "our."
We are a fully integrated real estate investment trust ("REIT"). We own manufactured housing ("MH") and recreational vehicle ("RV") communities in the United States ("U.S."), Canada, and the UK (together with MH and RV, the "properties"). We self-administer, self-manage, operate, or hold an interest in, and develop the majority of our properties, and a select number of our communities are operated by independent third-party contractors on our behalf under management agreements. Others are operated by lessees under ground lease arrangements. Together with our affiliates and predecessors, we have been in the business of operating, acquiring, developing, and expanding MH and RV communities since 1975 and communities in the UK since 2022.
For our MH and RV businesses, we lease individual parcels of land, or sites, with utility access for the placement of manufactured homes and RVs to our MH and RV customers. Our MH communities are designed to offer affordable housing to individuals and families, while also providing certain amenities. Our RV communities are designed to offer affordable vacation opportunities to individuals and families complemented by a diverse selection of high-quality amenities. Through SHS, a taxable REIT subsidiary, we market, sell, and lease new and pre-owned homes to current and future residents in our MH and RV communities. The operations of SHS support and enhance our occupancy levels, property performance, and cash flows.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $1.4B | $2.3B | $3.0B | $2.3B | $2.3B | $2.3B |
| Net income | $131.6M | $408.3M | $261.4M | -$206.9M | $103.6M | $1.4B |
| Free cash flow | $4.8M | $81.0M | -$186.1M | $783.4M | $830.8M | $407.2M |
More on SUI.
- Sun Communities Inc summary
- Sun Communities Inc financial statements
- Sun Communities Inc key metrics
- Sun Communities Inc health scores and style box
- Sun Communities Inc earnings
- Sun Communities Inc dividends
- Sun Communities Inc valuation
- Sun Communities Inc ownership and insiders
- Sun Communities Inc peers
Figures from Sun Communities Inc's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.