Sun Communities (SUI)
Land-lease REIT spanning manufactured housing, RV communities, and UK holiday parks.
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Owns and operates manufactured-housing communities, recreational-vehicle properties, and UK holiday parks, with MH and RV concentrated in North America. Revenue depends on occupied sites, rents, rates, and community operations; the completed marina exit and pending UK sale are narrowing the portfolio toward North American land-lease housing and outdoor hospitality.
Owns, operates, develops, and expands land-lease properties across three current platforms: manufactured-housing communities, recreational-vehicle communities, and UK holiday parks. The portfolio is concentrated in North America for MH and RV, with Park Holidays providing the UK presence.
Combines resident housing with outdoor-hospitality stays, earning property revenue through occupied sites and associated community operations. Repeated portfolio acquisitions and site expansion have built scale, while the completed marina sale narrowed the business back toward land-based communities.
Performance depends on occupancy, rent and rate realization, property operations, development execution, acquisitions, and access to capital. Extreme weather can disrupt properties for years, and the announced UK sale remains subject to closing conditions; until completion, those holiday parks remain inside the operating portfolio.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Evercore ISI | Target | Target: $138 | Target: $136 |
| Sep 21, 2026 | UBS | Target | Target: $127 | Target: $136 |
| Sep 14, 2026 | Evercore ISI | Target | Target: $144 | Target: $138 |
| Sep 11, 2026 | Truist Financial | Target | Target: $138 | Target: $136 |
| Aug 27, 2026 | Bank of America Securities | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $165.2M · Total debt $4.05B · Total assets $10.87B · Shareholders' equity $5.52B
- Revenue
- $484.6M
- Operating income
- $113.9M
- Net income
- −$990.8M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 101.92% | 124.14M shares | |
|---|---|---|---|
| 539 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.14% | 1.38M shares | |
| 19 holders · as of Sep 9, 2026 | |||
| Strategic holders | 6.02% | 7.33M shares | |
| 1 holder · as of Nov 7, 2024 | |||
| Adds to | 109.08% | ||
121.80M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 109.08%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.30% | 13.76M | as of Jun 30, 2026 |
Cohen & Steers, Inc.Institution | 11.00% | 13.40M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.43% | 10.26M | as of Jun 30, 2026 |
Dodge & CoxInstitution | 7.80% | 9.50M | as of Jun 30, 2026 |
Norges Bank (The Central Bank of Norway)Strategic | 6.02% | 7.33M | filed Nov 7, 2024 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 24, 2026 | Gary A. Shiffman | director | −25,031 | $119.96 |
| May 26, 2026 | Fernando Castro-Caratini | officer: EVP, CFO, Sec. & Treas. | −23,750 | $124.43 |
| Mar 5, 2026 | Clunet R. Lewis | director | −7,000 | $136.07 |
| Feb 27, 2026 | Clunet R. Lewis | director | −7,000 | $136.51 |
| Dec 17, 2025 | Gary A. Shiffman | director | −156,875 | $123.53 |
- Equity LifeStyle Properties
Closest public peer across manufactured housing and RV resorts
- UMH
Manufactured-housing REIT competing for residents and communities
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sun Communities | $114.30 | +0.49% | $14.02B | — | 37.3 | 6.4 | −22.3% |
| Equity LifeStyle Properties | $60.55 | +0.17% | $11.73B | 30.8 | 28.6 | 7.4 | +5.6% |
| UMH | $15.91 | +0.89% | $1.34B | 87.6 | 114.3 | 4.9 | +7.5% |
| Median | 59.2 | 71.5 | 6.2 | +6.5% |