A Brief History of Sun Communities, Inc. (SUI)

Founding and Early Years

Sun Communities, Inc. was founded in 1975 by Gary A. Shiffman and his father, David Shiffman. The company initially focused on acquiring and developing mobile home parks across the United States.

Public Offerings and Growth

Sun Communities became a public company on December 12, 1993, listed under the ticker symbol SUI. Since its IPO, Sun has significantly grown its portfolio through both acquisitions and development.

Acquisitions and Expansion

Throughout the years, Sun has expanded its operations through a series of strategic acquisitions. In 2019, the company acquired Sun RV Resorts, further solidifying its position in the RV resort sector. By the end of 2022, the company owned and operated more than 450 properties across the United States and Canada.

Financial Performance

As of Q3 2023, Sun Communities reported a total revenue of $1.02 billion, with an adjusted funds from operations (AFFO) of $790 million. The company continued to deliver strong same-store revenue growth, particularly in the manufactured housing segment.

Current Operations

Sun Communities focuses on two main segments: traditional manufactured home communities and recreational vehicle resorts. The company has enhanced its operational strategy through improved amenities and services, thereby increasing occupancy rates.

Market Position

Sun Communities is recognized as one of the largest operators in its sector, competing with other major players such as Equity LifeStyle Properties, Inc. (ELS). As of October 2023, the company holds a market share of approximately 15% in the manufactured housing space.

Future Outlook

Analysts predict a steady growth trajectory for Sun Communities, primarily driven by an increasing demand for affordable housing options and the continued popularity of RV lifestyles. The company is expected to pursue further acquisitions and site expansions.

A Who Owns Sun Communities, Inc. (SUI)

Company Overview

Sun Communities, Inc. (SUI) is a publicly traded real estate investment trust (REIT) that primarily focuses on the ownership and management of manufactured housing communities and recreational vehicle (RV) resorts across the United States and Ontario, Canada. As of 2023, Sun Communities owns over 400 properties, translating to approximately 140,000 sites.

Ownership Structure

The ownership structure of Sun Communities is distributed among institutional investors, retail investors, and company insiders. Institutional investors possess the largest share of the company, reflecting their significant influence on company decisions and direction.

Major Institutional Shareholders

Several prominent institutional investors hold significant stakes in Sun Communities. The following table lists the top institutional shareholders as of the latest available data in 2023:

Insider Ownership and Key Executives

Insider ownership in Sun Communities is relatively low compared to institutional holdings. Here are some key executives and their ownership stakes:

Market Performance

As of the end of September 2023, Sun Communities had a market capitalization of approximately $15 billion. The stock price has seen notable fluctuations, reflecting broader market trends and company performance metrics.

Key financial data includes:

• 2022 Revenue: $1.08 billion
• 2022 Net Income: $227 million
• 2023 Q2 Revenue: $295 million
• 2023 Q2 Net Income: $58 million
• Dividend Yield: 3.2%

Conclusion

Sun Communities, Inc. has a diverse ownership structure primarily comprised of institutional investors, reflecting strong institutional support and confidence in the company's future performance. The management team, while holding a smaller percentage of the shares, plays a critical role in steering the company towards continued growth and stability.

Sun Communities, Inc. (SUI) Mission Statement

Overview

Sun Communities, Inc. (SUI) is committed to providing quality housing and management services. Its mission is centered on delivering superior living experiences in manufactured housing and recreational vehicle communities.

Core Values

• Integrity: Acting with honesty and transparency in all dealings.
• Customer Focus: Prioritizing residents’ needs and enhancing their lifestyles.
• Innovation: Continuously improving through new ideas and technology.
• Community Engagement: Building strong, vibrant communities.

Financial Performance

As of the end of Q3 2023, Sun Communities reported the following financial figures:

Community Impact

Sun Communities owns and operates over 600 properties across the United States and Canada, providing housing for nearly 180,000 residents. The company's approach emphasizes:

• Affordable Housing: Offering reasonable living options through manufactured homes.
• Sustainability: Implementing eco-friendly practices in community management.
• Quality Standards: Ensuring high living standards in all properties.

Future Goals

Sun Communities aims to expand its reach and enhance property offerings, with a target to:

• Increase property portfolio by 10% annually.
• Improve customer satisfaction ratings by 15% by 2025.
• Achieve sustainability certifications for at least 50% of communities by 2024.

Conclusion of Mission Statement

Through its mission statement, financial performance, community impact initiatives, and future goals, Sun Communities, Inc. exemplifies a commitment to quality housing and service excellence.

How Sun Communities, Inc. (SUI) Works

Overview

Sun Communities, Inc. (SUI) operates as a real estate investment trust (REIT) that focuses on the ownership, operation, and development of manufactured housing communities and recreational vehicle resorts throughout the United States and Canada.

Business Model

The company generates revenue through:

• Rental income from residents in manufactured housing communities.
• Site rentals from recreational vehicle (RV) parks.
• Sales of manufactured homes.
• Lease options for homes within its communities.

Portfolio Composition

As of Q3 2023, Sun Communities' portfolio includes:

Financial Performance

For the fiscal year ended December 31, 2022, Sun Communities reported:

• Total Revenue: $1.08 billion
• Net Income: $246.3 million
• Operating Income: $495.5 million
• Adjusted Funds from Operations (AFFO): $515.2 million

Market Capitalization

As of October 2023, Sun Communities has a market capitalization of approximately:

$14.62 billion

Stock Performance

As of October 20, 2023, the stock price of SUI was:

$128.25 per share, with a 52-week range of:

$108.22 - $142.70

Dividend Information

Sun Communities has a quarterly dividend policy with the following details:

Growth Strategy

Sun Communities focuses on the following strategies for growth:

• Acquisition of additional manufactured housing and RV park properties.
• Expansion of existing communities through new lot development.
• Enhancing service amenities to increase occupancy.

Geographic Presence

Sun Communities operates in multiple states, with a significant presence in:

• Florida
• California
• Texas
• Michigan
• Arizona

Recent Developments

In 2023, Sun Communities announced:

• The acquisition of an additional 12 manufactured housing communities.
• Expansion plans for three existing RV resorts in high-demand locations.

Employee Overview

As of the latest reporting, Sun Communities employs approximately:

2,000 individuals across various operational roles.

Community Impact

Sun Communities emphasizes community engagement through:

• Investment in local amenities.
• Collaboration with local governments.
• Programs focused on sustainability and environmental stewardship.

How Sun Communities, Inc. (SUI) Makes Money

Real Estate Investment Trust (REIT) Structure

Sun Communities, Inc. operates as a Real Estate Investment Trust (REIT), focusing on owning, operating, and developing manufactured housing and recreational vehicle (RV) communities. The company generates revenue primarily through the rental of residential lots and RV sites.

Revenue Streams

The company has several key revenue streams:

• Residential Rentals
• RV Rentals
• Property Sales
• Ancillary Services (e.g., utilities, laundry, and other amenities)

Financial Performance

In 2022, Sun Communities reported total revenues of approximately $1.3 billion.

Revenue Breakdown

Operating Expenses

For the fiscal year 2022, Sun Communities reported operating expenses amounting to approximately $800 million.

Net Income

The company achieved a net income of around $500 million for the same fiscal year.

Portfolio Statistics

As of December 31, 2022, Sun Communities owned and operated:

• Over 600 manufactured housing communities
• Approximately 200 RV resorts
• More than 135,000 developed sites

Growth Strategy

Sun Communities focuses on expansion through:

• Acquisitions of additional RV and manufactured housing properties
• Development of new communities
• Improving existing community amenities and services

Key Market Metrics

Recent Trends

In 2023, the company has seen a continued increase in occupancy rates, reaching approximately 95% across its communities.

Future Outlook

Sun Communities projects a robust growth trajectory, with expected revenue growth of 9-12% annually through 2025.