Sun Communities Q3 core FFO per share rises driven by manufactured houses strength

Sun Communities

26/10/2026 20:16

Overview
US manufactured housing and RV REIT's Q3 core FFO per share rose to $2.35 from $2.28
Same property NOI grew 3.6% for the quarter
Company completed UK business sale, receiving $1.03 bln, and repurchased $293 mln in shares

Outlook
Company expects 2026 Core FFO per share of $6.97 to $7.05
Company expects 2026 North America same property NOI growth of 4.9% to 5.3%
Company expects 2027 rental rate increases of 5.4% for MH and 4.4% for annual RV

Result Drivers
MANUFACTURED HOUSING - CEO said continued strength in manufactured housing drove results
SAME PROPERTY NOI - Co said same property NOI grew 3.6% for the quarter
UK BUSINESS SALE - Co said sale proceeds were used mainly for share repurchases and balance sheet activity

Company press release: ID:nGNE5KdlYk

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Core FFO Per Share
 
$2.35
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 5 "hold" and no "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 $137.00, about 13.9% above its October 23 closing price of $120.24
The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 46 three months ago

Reuters Recommended Reads
Oct 26 - Easterly Government Properties Q3 Core FFO tops estimates
Oct 23 - First Capital Q3 net interest income rises on higher yields, asset balances

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(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.)