Sun Communities Q3 net income drops, raises full-year Core FFO guidance

Sun Communities

29/10/2025 20:37

Overview

Sun Communities Q3 net income per diluted share falls to $0.07 from $2.31 yr/yr

Core FFO per share for Q3 decreases slightly yr/yr to $2.28

Company raises full-year Core FFO per share guidance by $0.04

Outlook

Sun Communities raises full-year 2025 Core FFO per Share guidance to $6.59-$6.67

Company increases North American Same Property NOI growth guidance to 4.6%-5.6%

Sun Communities sets preliminary 2026 rental rate guidance: 5.0% for MH, 4.0% for annual RV and 4.1% for UK

Result Drivers

MANUFACTURED HOUSING AND RV PERFORMANCE - Strong performance in MH and RV sectors drove North America Same Property NOI increase

SAFE HARBOR SALE - Completion of Safe Harbor Marinas sale returned over $1 bln to shareholders

PROPERTY ACQUISITIONS - Subsequent to Quarter End, Acquired 14 communities for $457 mln, enhancing portfolio

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.07
Q3 Net Income
$8.5 mln
Q3 Adjusted FFO Per Share
$2.28


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 $139.50, about 12.3% above its October 28 closing price of $122.37

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 29 three months ago

Press Release: ID:nGNE5bwyg5

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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.)