Sun Communities Q2 net income surges on marina sale

Sun Communities

30/07/2025 21:40

Overview

Sun Communities Q2 net income jumps, driven by Safe Harbor Marinas sale

Company raises full-year 2025 Core FFO per share guidance

Over $830 mln returned to shareholders via distributions and repurchases

Outlook

Sun Communities raises full-year 2025 Core FFO per share guidance to $6.51-$6.67

Company increases North American Same Property NOI growth guidance to 3.9%-5.6%

Sun Communities sees UK Same Property NOI growth of 1.3%-3.3%

Company projects Q3 2025 diluted EPS of $1.21-$1.31

Result Drivers

MARINA SALE - Significant increase in net income driven by sale of Safe Harbor Marinas

OCCUPANCY INCREASE - North America Same Property Adjusted Blended Occupancy for MH and RV rose by 150 basis points to 99.0%

NOI GROWTH - North America same property NOI for MH and RV increased by 4.9% year-over-year

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$10.02
Q2 Net Income
$1.30 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the residential reits peer group is "buy"

Wall Street's median 12-month price target for Sun Communities Inc is $136.00, about 12% above its July 29 closing price of $119.68

The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 43 three months ago

Press Release: ID:nGNX8VrG13

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)