Latest news with #SunCommunities'
Yahoo
15-03-2025
- Business
- Yahoo
Sun Communities (NYSE:SUI) Declares US$0.94 Per Share Dividend for Q1 2025
Sun Communities recently announced a quarterly dividend of $0.94 per share, adding to the positive sentiment that may have contributed to its share price increase of 5% over the last quarter. However, this rise comes despite the company reporting a widened net loss of $224 million in Q4 2024 due to substantial goodwill impairments. Additionally, Sun Communities provided guidance for a diluted EPS range slightly negative for Q1 2025, which exceeded analysts' expectations. The broader market context includes significant fluctuations, with major indices facing weekly losses and heightened volatility amidst political and economic concerns. Investor focus on stable income streams in tumultuous markets could have supported Sun Communities' stock performance, as real estate investments often attract attention when broader markets falter. Despite overall market declines, the company's maintained dividend and resilient guidance might have offered some stabilization to its stock performance during a volatile economic period. Assess the downside scenarios for Sun Communities with our risk evaluation. Uncover the next big thing with financially sound penny stocks that balance risk and reward. Sun Communities (NYSE:SUI) achieved a total shareholder return of 29.19% over the past five years, reflecting a period of considerable growth. Despite recent market challenges, factors such as consistent dividend payouts have bolstered investor confidence. Key developments contributing to this performance include a Q3 2024 restructuring initiative projected to save US$15 million to US$20 million annually, which aimed to improve the company's operational efficiency. Additionally, the announcement of CEO Gary Shiffman's upcoming retirement after over 40 years could signal a strategic shift within the company. Despite facing a class action lawsuit in December 2024 related to accounting practices, Sun Communities has managed to uphold its commitment to shareholders through consistent quarterly dividend affirmations, most recently seen in the US$0.94 per share distributions. However, while it outpaced inflation, the company's one-year return has underperformed both the US Market and the US Residential REITs industry, which suggests an area for potential improvement going forward. Shareholder in Sun Communities? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:SUI. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
23-02-2025
- Business
- Yahoo
1 Magnificent Dividend Stock Down 15% to Buy and Hold Forever
There's a bit of a stigma surrounding manufactured home communities. Many people wouldn't consider living in one because they view them as less desirable than renting an apartment or single-family home. However, these properties provide 25% more space than a typical rental property while costing 50% less per square foot. That affordability is one reason why those living in a manufactured home community tend to stay there a very long time. Resilient demand is one of the many factors that has made Sun Communities (NYSE: SUI) -- a leading owner of manufactured housing communities -- a magnificent investment over the years with 12.6% annualized total return since its IPO. Despite its durable growth, the dividend-paying real estate investment trust (REIT) currently sits more than 15% below its 52-week high. That makes now a great time to buy this niche property investor and hold it for a potential lifetime of durable and growing dividend income. Sun Communities has delivered extremely reliable growth over the past couple of decades. For more than 20 years, the REIT has reported positive same-property net operating income (NOI) growth every single year or rolling four-quarter period. That stands out compared to other residential REITs that focus on multifamily properties. This group has experienced three periods of declining NOI (following the bust, financial crisis, and pandemic). Sun Communities' steadier growth has enabled it to increase its NOI faster over the long term (5.2% annually compared to 3.1% for multifamily REITs and 3.2% for the broader REIT industry). Affordability has played a huge role in driving the resilient demand for manufactured housing. It's also expensive to move a manufactured home once in place in a community -- $6,000 to $10,000 to relocate a home. Because of that, it's typically cheaper to either pay the higher lot rent that the REIT pushes through or sell the home to a new owner willing to pay the higher lot rent. Adding to the demand dynamics is that there has been virtually no new supply of manufactured home communities built in the country in recent years. In addition to owning manufactured housing communities, Sun Communities invests in RV parks, marinas, and U.K. holiday parks. These properties also benefit from durable and growing demand. For example, the average RV stays in one of the company's communities for eight years. Meanwhile, more people are going camping than ever before -- a 98% increase in the number of households that camp three or more times each year over the past decade. Likewise, the number of boat owners continues to grow (especially for larger vessels) while marina sizes are shrinking due to the continued redevelopment of waterfront properties. These dynamics help drive growing demand for space in its properties, enabling Sun Communities to continue increasing rents. For example, it plans to push through rental increases of 3.7% to 5.2% across its portfolio this year. Rent growth is only one value driver for Sun Communities. The REIT is also steadily converting transient RV sites to annual leases, enabling it to generate more income from each site. It's also investing capital to add sites and slips across select properties to increase capacity. In addition, the REIT has some vacant sites across its properties that it can lease to maximize the income generated. Sun Communities also has a solid investment-grade balance sheet. That gives it the flexibility to make acquisitions as opportunities arise. The REIT has made some notable deals to expand its platform in recent years (e.g., Safe Harbor for $2.1 billion in 2020 and Park Holidays UK for $1.3 billion in 2022). It will also buy single properties. For example, it spent $63.8 million through the third quarter of last year to acquire three marina properties and several other marina expansion sites that it combined with existing properties. The REIT's growth drivers should enable it to routinely increase its high-yielding dividend, which is currently at a 3% yield compared to 1.2% for the S&P 500. Sun Communities has raised its dividend for nine straight years. That steady upward trend should continue as the REIT benefits from rising rents at its existing properties and other growth drivers. Sun Communities benefits from the resilient demand for space in its manufactured housing communities and other niche properties. That durable growth has allowed the REIT to steadily increase its dividend. With more dividend growth likely, it's a great stock to buy for a potential lifetime of income, especially given its currently lower share price (and higher dividend yield). Before you buy stock in Sun Communities, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Sun Communities wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,668!* Now, it's worth noting Stock Advisor's total average return is 942% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of February 21, 2025 Matt DiLallo has positions in Sun Communities. The Motley Fool recommends Sun Communities. The Motley Fool has a disclosure policy. 1 Magnificent Dividend Stock Down 15% to Buy and Hold Forever was originally published by The Motley Fool Sign in to access your portfolio
Associated Press
09-02-2025
- Business
- Associated Press
Faruqi & Faruqi Reminds Sun Communities Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 10, 2025
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Sun Communities To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Sun Communities between February 28, 2019 and September 24, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). New York, New York--(Newsfile Corp. - February 9, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Sun Communities, Inc. ('Sun Communities' or the 'Company') (NYSE: SUI) and reminds investors of the February 10, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts concerning where money was coming from, namely, undisclosed loans and a $4 million mortgage. Importantly, Defendants concealed key information regarding Board members' insider trading, loans taken on behalf of SUI by CEO Shiffman, and the mortgage signed by CEO Shiffman on behalf of an entity called DH Bingham Farms LLC. Such statements absent these material facts caused Plaintiff and other shareholders to purchase SUI's securities at artificially inflated prices. On September 25, 2024, Blue Orca Capital published a report alleging, among other things, that Sun Communities' CEO 'received an undisclosed $4 million loan from the family of a purportedly independent Director who has sat on the Audit Committee and chaired the Compensation Committee for close to a decade.' On this news, Sun Communities' stock price fell $1.62, or 1.2%, to close at $137.48 per share on September 25, 2024, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Sun Communities' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Sun Communities class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
