Sun Communities reports Q2 core FFO $1.76, consensus $1.67

Reports Q2 revenue $623.5M, consensus $620.79M. “We are pleased to report strong second quarter results with earnings ahead of our expectations, as we demonstrated the strength of our platform. It was also one of the most pivotal quarters in our history as we completed the previously announced sale of Safe Harbor Marinas and repositioned Sun as a pure-play owner and operator of manufactured housing and RV communities with a best-in-class balance sheet. This transaction streamlined operations, unlocked meaningful financial flexibility, and enhanced shareholder value,” said Gary Shiffman, chairman and CEO. “We are incredibly excited to welcome Charles Young as Sun’s next CEO in October, as his seasoned leadership and deep real estate expertise will guide the Company through its next phase of growth. After over 40 years as CEO, I am proud to reflect on the Company’s incredible journey knowing our efforts built a strong foundation that uniquely positions Sun for continued growth and long-term value creation.”