Sun Communities, Inc. ( (SUI) ) has released its Q2 earnings. Here is a breakdown of the information Sun Communities, Inc. presented to its investors.
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Sun Communities, Inc., a real estate investment trust (REIT), specializes in owning and operating manufactured housing and recreational vehicle communities across North America and the UK. The company reported its financial results for the second quarter and first six months of 2025, highlighting a significant net income attributable to common shareholders of $1.3 billion for the quarter, driven by the sale of Safe Harbor Marinas.
Sun Communities’ second-quarter results showcased a net income per diluted share of $10.02, with Core Funds from Operations (Core FFO) per share at $1.76. The company experienced a 4.9% increase in North America Same Property Net Operating Income (NOI) for manufactured housing and RVs. Additionally, the company returned over $830 million to shareholders through special cash distributions and share repurchases.
Key financial metrics included a net loss from continuing operations of $92.2 million for the quarter, contrasting with a net income from discontinued operations of $1.4 billion. The company’s North American portfolio occupancy for manufactured housing and annual RV sites rose to 98.1%, with a notable increase in revenue-producing sites. The strategic sale of Safe Harbor Marinas generated substantial cash proceeds, allowing Sun Communities to focus on its core operations.
Sun Communities raised its full-year 2025 Core FFO per share guidance to between $6.51 and $6.67, reflecting confidence in continued growth. The company also announced a CEO transition, with Charles Young set to succeed Gary Shiffman in October 2025, signaling a new phase of leadership and strategic direction.
Looking ahead, Sun Communities remains focused on enhancing shareholder value through strategic investments and operational efficiencies. The company’s robust financial position and strategic initiatives position it well for future growth in the manufactured housing and RV sectors.