Sun Communities Inc (N:SUI)

Business Focus: Residential REITs

Sector:  Financials Industry:  Residential REITs
See Regulatory Filings on SEC
Company Contact
Address: 27777 Franklin Rd Ste 200
SOUTHFIELD MI 48034-8205
Tel: N/A
IR: See website
Key People
Gary A. Shiffman
Chairman of the Board, Chief Executive Officer
John Bandini McLaren
President, Chief Operating Officer
Karen J. Dearing
Chief Financial Officer, Executive Vice President, Treasurer, Secretary
Jonathan M. Colman
Executive Vice President
Business Overview
Sun Communities, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV). As of December 31, 2016, it owned and operated or had an interest in a portfolio of properties located throughout the United States and Ontario, Canada, including 226 MH communities, 87 RV communities, and 28 properties containing both MH and RV sites. The Company operates through two segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns, operates, or has an interest in a portfolio, and develops MH communities and RV communities throughout the United States and is in the business of acquiring, operating, and expanding MH and RV communities.
Financial Overview
For the six months ended 30 June 2019, Sun Communities Inc revenues increased 13% to $599.8M. Net income applicable to common stockholders increased 48% to $74.7M. Revenues reflect Real Property Operations segment increase of 13% to $468.6M, FFO per Share (Diluted) increase of 10% to $1.19. Net income benefited from Net Operating Income (NOI)-Real Property increase of 11% to $288M, Interest expense decrease of 46% to $34M (expense).
Employees: 2,784 as of Dec 31, 2018
Reporting Currency: U.S. Dollars
Enterprise value: $16,761M as of Jun 30, 2019
Annual revenue (TTM): $1,197M as of Jun 30, 2019
EBITDA (TTM): $591.09M as of Jun 30, 2019
Net annual income (TTM): $129.82M as of Jun 30, 2019
Free cash flow (TTM): -$203.48M as of Jun 30, 2019
Net Debt Last Fiscal Year: $3,083M as of Jun 30, 2019
Shares outstanding: 90,670,873 as of Jul 18, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization