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SUI on NYSE

Sun Communities

Real estate investment trust

Sun Communities, Inc. is a publicly traded real estate investment trust that invests in manufactured housing communities and recreational vehicle communities. As of December 31, 2025, the company owned interests in 513 such properties in the United States, Canada, and the UK. Sun Communities is listed on the New York Stock Exchange under the symbol: SUI.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1975Founded1

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  • TickerSUI on NYSE1
  • Industryreal estate investment trust1
  • HeadquartersSouthfield1
  • Websitewww.suncommunities.com
  • Incorporated inMD5
  • Business address27777 Franklin Road, Suite 300, Southfield, Mi 480345
  • Filer categoryLarge accelerated filer5
  • Legal formINCORPORATED4
  • LEI549300H5GEOJYN41ZG574
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O NATIONAL REGISTERED AGENTS, INC. OF MD., 21093 Lutherville Timonium, United States4
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D037022974

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Sun Communities, Inc. is a publicly traded real estate investment trust that invests in manufactured housing communities and recreational vehicle communities. As of December 31, 2025, the company owned interests in 513 such properties in the United States, Canada, and the UK.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

61.3%Net margin7
2.0%Revenue growth, 20257
20.3%Return on equity7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

MH brought in 51% of the revenue Sun Communities broke down this way in fiscal 2025.

  1. MH$1.1B751%up 2% from 2024
  2. RV$668.6M730%down 2% from 2024
  3. UK$427.2M719%up 4% from 2024
Business segments by year
Business segments202320242025
MH$1.1B$1.1B$1.1B
RV$698.8M$680.7M$668.6M
UK$382.4M$409.9M$427.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs37¢$843.0M
  • Income tax2¢$49.2M
  • Profit61¢$1.4B

Out of $2.3B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid15¢$131.5M
  • Share buybacks62¢$539.1M
  • Kept or used elsewhere22¢$193.6M

Out of $864.2M of cash from operations.7

Financial statements

Revenue8910117$2.3B in 2025+82% since 2019
0$1.0B$2.0B$3.0B2019: $1.3B$1.3B20192020: $1.4B$1.4B2020+11%2021: $2.3B$2.3B2021+63%2022: $3.0B$3.0B2022+31%2023: $2.3B$2.3B2023−23%2024: $2.3B$2.3B2024−1%2025: $2.3B$2.3B2025+2%
Net income1210117$1.4B in 2025+775% since 2019
-$500.0M0$500.0M$1.0B$1.5B2019: $161.6M$161.6M20192020: $131.6M$131.6M2020−19%2021: $408.3M$408.3M2021+210%2022: $261.4M$261.4M2022−36%2023: -$206.9M-$206.9M20232024: $103.6M$103.6M20242025: $1.4B$1.4B2025+1265%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Real property$1.8B$1.7B$1.6B
Home sales$333.8M$369.9M$419.9M
Ancillary$134.0M$132.5M$137.6M
Interest$48.5M$20.1M$44.8M
Brokerage commissions and other, net$24.0M$34.9M$53.6M
Total Revenues$2.3B$2.3B$2.3B
Property operating and maintenance$595.9M$584.0M$555.9M
Real estate tax$111.1M$103.8M$95.7M
Home costs and selling$263.8M$273.1M$305.6M
Ancillary$106.0M$108.9M$108.3M
General and administrative$236.7M$230.5M$213.5M
Catastrophic event-related charges, net$1.2M$23.6M-$3.4M
Business combinations$0$0$3.0M
Depreciation and amortization$507.9M$490.5M$494.1M
Asset impairments$386.7M$66.7M$5.6M
Goodwill impairment$0$180.8M$369.9M
Loss on extinguishment of debt (see Note 7)$104.0M$1.4M$0
Interest$221.0M$350.3M$325.7M
Interest on mandatorily redeemable preferred OP units / equity$0$0$3.3M
Total Expenses$2.5B$2.4B$2.5B
Loss Before Other Items-$228.2M-$153.1M-$193.1M
Loss on remeasurement of marketable securities$0$0-$16.0M
Gain / (loss) on foreign currency exchanges$26.7M-$25.8M-$300.0K
Gain on dispositions of properties, net$5.1M$202.9M$11.0M
Other income / (expense), net$133.9M-$6.8M-$7.3M
Loss on remeasurement of notes receivable-$1.6M-$36.4M-$106.7M
Total Income from Nonconsolidated Affiliates$16.4M$9.5M$16.0M
Gain / (loss) on remeasurement of investment in nonconsolidated affiliates-$900.0K$6.6M-$4.2M
Current tax expense (see Note 11)-$10.8M-$3.6M-$13.7M
Deferred tax benefit (see Note 11)$60.0M$39.6M$22.9M
Net Income / (Loss) from Continuing Operations$600.0K$32.9M-$291.4M
Income from discontinued operations, net$1.4B$74.2M$82.3M
Net Income / (Loss)$1.4B$107.1M-$209.1M
Less: Preferred return to preferred OP units / equity interests$12.6M$12.8M$12.3M
Less: Income / (loss) attributable to noncontrolling interests$56.4M$5.3M-$8.1M
Net Income / (Loss) Attributable to SUI Common Shareholders - Basic$1.4B$89.0M-$213.3M
Weighted average common shares outstanding - basic (in shares)124.9M shares124.5M shares123.4M shares
Weighted average common shares outstanding - diluted (in shares)124.9M shares127.2M shares123.8M shares
Basic earnings / (loss) per share from continuing operations (in USD per share)-$1$0-$2
Basic earnings per share from discontinued operations (in USD per share)$11$1$1
Basic earnings/(loss) per share (in USD per share)$10.84$0.71-$1.71
Diluted earnings / (loss) per share from continuing operations (in USD per share)-$1$0-$2
Diluted earnings per share from discontinued operations (in USD per share)$11$1$1
Diluted earnings/(loss) per share (in USD per share)$10.84$0.71-$1.72

Compare Sun Communities with another company

Corporate structure

Sun Communities sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Sun Communities

  • BlackRock Filed SCHEDULE 13G/A on Sun Communities, latest Sep 4, 2026 (6 filings since Feb 1, 2022)
  • &. Cox Dodge Filed SCHEDULE 13G/A on Sun Communities, latest Aug 7, 2026 (4 filings since Feb 13, 2025)
  • Cohen & Steers Filed SCHEDULE 13G/A on Sun Communities, latest May 7, 2026 (7 filings since Feb 14, 2022)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Sun Communities, latest Apr 30, 2026
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Sun Communities, latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Sun Communities, latest Mar 27, 2026 (4 filings since Feb 10, 2022)
  • PRICE T ROWE ASSOCIATES INC /MD/ Filed SCHEDULE 13G/A on Sun Communities, latest Feb 17, 2026 (2 filings since Aug 14, 2025)
  • NORGES BANK Filed SCHEDULE 13G/A on Sun Communities, latest Jan 28, 2026 (2 filings since Nov 7, 2024)
  • FMR LLC Filed SCHEDULE 13G/A on Sun Communities, latest Nov 5, 2025 (2 filings since Feb 12, 2025)
  • Sun Communities Southfield, Michigan, United States
    • recreational vehicle park Owned

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Sun Communities reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$3.5B7 Dec 31, 2025$3.5B7 Dec 31, 2024+1.2%
Furniture and fixtures$769.8M7 Dec 31, 2025$739.2M7 Dec 31, 2024+4.1%
Finance-lease assets$26.6M7 Dec 31, 2025$31.3M7 Dec 31, 2024−15.0%
Operating-lease assets (leased space)$59.9M7 Dec 31, 2025$52.4M7 Dec 31, 2024+14.3%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$10.9B7 Dec 31, 2025$10.9B7 Dec 31, 2024+0.3%
Real estate investments, at cost$14.5B7 Dec 31, 2025$14.1B7 Dec 31, 2024+2.9%
Real estate accumulated depreciation$3.6B7 Dec 31, 2025$3.2B7 Dec 31, 2024+11.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$569.6M7 Dec 31, 2025$47.9M7 Dec 31, 2024+1089.1%
Stakes in other companies (equity method)$129.0M7 Dec 31, 2025$125.1M7 Dec 31, 2024+3.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$9.5M7 Dec 31, 2025$9.5M7 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$101.5M7 Dec 31, 2025$102.5M7 Dec 31, 2024−1.0%
Indefinite-lived intangibles (excluding goodwill)$700.0K7 Dec 31, 2025$600.0K7 Dec 31, 2024+16.7%
Finite-lived intangibles, gross$268.7M7 Dec 31, 2025$255.0M7 Dec 31, 2024+5.4%
Accumulated amortization$167.9M7 Dec 31, 2025$153.1M7 Dec 31, 2024+9.7%

Properties, in its own words

As of December 31, 2025, our properties were located in the U.S., the UK, and Canada and consisted of 294 MH communities, 166 RV communities, and 53 UK communities. Most of our properties include amenities oriented toward family and retirement living. Of our 513 properties, 249 properties have 300 or more developed sites, with the largest having 2,340 developed MH and RV sites. For a list of our properties and details on properties that are encumbered, refer to "Real Estate and Accumulated Depreciation, Schedule III," included in our Consolidated Financial Statements. For details regarding our largest MH and RV markets by total sites, including occupancy rates and revenue percentages for each major market, refer to "Executive Summary" in Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" of this Annual Report on Form 10-K.

As of December 31, 2025, our MH and RV properties had an occupancy rate of 97.9% excluding transient RV sites. Since January 1, 2021, our MH and RV properties have a five-year average annual turnover of homes (where the home is moved out of the community) of approximately 4.0% and a five-year average annual turnover of residents (where the resident-owned home is sold and remains within the community, typically without interruption of rental income) of approximately 5.7%. The average renewal rate for residents in our Rental Program was 68.3% for the year ended December 31, 2025.

The rest of Item 2

We believe that our properties' high amenity levels, customer service loyalty, and customer retention program contribute to low turnover and generally high occupancy rates. All of the properties provide residents with attractive amenities with most offering a clubhouse, a swimming pool, and laundry facilities. Many of the properties offer additional amenities such as sauna / whirlpool spas, tennis courts, shuffleboard, basketball courts, and / or exercise rooms. Many RV communities offer incremental amenities including golf, pro shops, restaurants, waterparks, watersports, and thematic experiences.

Our MH and RV communities are principally located in the midwestern, southern, and southeastern regions of the U.S., as well as in California, in the south of England in the UK, and in Canada. We believe that geographic diversification helps to insulate the portfolio from regional economic influences. We have concentrated our properties within certain areas of the regions in order to achieve economies of scale in management and operations.

Item 2 of the 10-K filed Feb 25, 2026.16

Stakes and holdings (Wikidata)

  • recreational vehicle park

Things Wikidata records the company as owning, with the share when stated.1

The story

The company dates to 1975. In December 1993, the company became a public company via an initial public offering. In March 1996, the company acquired 25 manufactured housing communities for $226 million. In 1996, Sun RV Resorts was established.

In June 2016, the company acquired a portfolio of 103-communities mostly located in California, Florida, and Ontario, Canada for $1.7 billion from an affiliate of Centerbridge Partners. In October 2019, the company acquired a portfolio of 31 manufactured housing communities for $343.6 million. In September 2020, the company acquired Safe Harbor Marinas for $2.11 billion. On Nov. 16, 2021, Sun RV Resorts Rebrands to Sun Outdoors.

In April 2022, the company acquired Park Holidays UK for $1.3 billion. In October 2025, Charles D. Young succeeded Gary A. Shiffman as Chief Executive Officer. Mr. Shiffman continues to serve as Chairman of the Board.

From Wikipedia’s article on Sun Communities, shared under CC BY-SA 4.0.6

Leadership

Who has led Sun Communities, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Gary A. Shiffman2006–2020
  2. Baxter Underwood2020–2025
  3. Charles D. Young2025–now

Chair

  1. Gary A. Shiffman2009–now

President

  1. Brian W. Fannon2008
  2. Gary A. Shiffman2009–2024

Chief financial officer

  1. Jeffrey P. Jorissen2006–2008
  2. Karen Dearing2008–2022
  3. Fernando Castro-Caratini2022–2026
  4. Mark E. Patten2026
  5. Robert Garechana2026–now

Chief operating officer

  1. Brian W. Fannon2006–2007
  2. Bruce Thelen2023–now
19801990200020102020
Board members and other officers (26)

Products and brands

Sun Outdoors (formerly known as Sun RV Resorts) is the RV resort division of Sun Communities, Inc. and was established in 1996. It is the owner and operator of more than 170 resorts and campgrounds across the United States and Canada.

From Wikipedia’s article on Sun Communities, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Also owns

  • recreational vehicle park

From Wikidata.1

Timeline

  1. Oct 2, 20268-K Entered a material agreement; Unregistered sale of shares53
  2. Sep 23, 20268-K Completed an acquisition or sale; Regulation FD disclosure54
  3. Sep 9, 20268-K Regulation FD disclosure55
  4. Aug 27, 20268-K Executive or director change56
  5. Aug 25, 20268-K Executive or director change; Regulation FD disclosure57
  6. Jul 27, 20268-K Results of operations58
  7. Jun 1, 20268-K Regulation FD disclosure59
  8. May 28, 20268-K Other events60
  9. May 21, 20268-K Entered a material agreement; Impairment; Regulation FD disclosure61
  10. May 18, 20268-K Shareholder vote62
  11. May 13, 20268-K Change of auditor63
  12. May 4, 20268-K Regulation FD disclosure64
  13. Oct 3, 2025New chief executive Charles D. Young becomes CEO17
  14. Nov 6, 2020New chief executive Baxter Underwood becomes CEO18
  15. Mar 14, 2006New chief executive Gary A. Shiffman becomes CEO19
  16. 1975Founded Founded1

Calendar

Coming up

  1. Oct 26, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $2.28 a share, on Oct 29, 2025.65

When it reported results

  1. Jul 27, 2026Reported quarterly or annual results58
  2. Apr 27, 2026Reported quarterly or annual results66
  3. Feb 24, 2026Reported quarterly or annual results67
  4. Oct 29, 2025Reported quarterly or annual results68
  5. Jul 30, 2025Reported quarterly or annual results69
  6. May 5, 2025Reported quarterly or annual results70
  7. Feb 26, 2025Reported quarterly or annual results71
  8. Nov 6, 2024Reported quarterly or annual results72

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

477 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 100 major events, 283 insider forms, 29 large holders, 45 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Oct 2, 20268-K EDGAR
  3. Sep 23, 20268-K EDGAR
  4. Sep 9, 20268-K EDGAR
  5. Sep 9, 20264 EDGAR
  6. Sep 9, 20263 EDGAR
  7. Sep 4, 2026SCHEDULE 13G/A EDGAR
  8. Aug 27, 20268-K EDGAR
  9. Aug 25, 20268-K EDGAR
  10. Aug 7, 2026SCHEDULE 13G/A EDGAR
  11. Jul 28, 202610-Q EDGAR
  12. Jul 27, 20268-K EDGAR
  13. Jul 23, 20264 EDGAR
  14. Jul 22, 20264 EDGAR
  15. Jul 22, 20264 EDGAR
  16. Jul 22, 20264 EDGAR
  17. Jul 1, 20264 EDGAR
  18. Jul 1, 20263 EDGAR
  19. Jun 25, 20264 EDGAR
  20. Jun 24, 2026144 EDGAR

The 477 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

24 open-market trades by officers, directors and large owners since October 2021: 5 buys and 19 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 24, 2026SHIFFMAN GARY ADirectorSale25,031$119.96$3.0MForm 4
May 26, 2026Castro-Caratini FernandoEVP, CFO, Sec. & Treas.Sale23,750$124.43$3.0MForm 4
Mar 5, 2026LEWIS CLUNET RDirectorSale7,000$136.07$952.5KForm 4
Feb 27, 2026LEWIS CLUNET RDirectorSale7,000$136.51$955.6KForm 4
Dec 17, 2025SHIFFMAN GARY ADirectorSale156,875$123.53$19.4MForm 4
Nov 10, 2025LEWIS CLUNET RDirectorSale4,000$126.24$505.0KForm 4
May 23, 2025BLAU JEFFDirectorBuy3,665$117.99$432.4KForm 4
Aug 5, 2024Underwood BaxterCEO - Safe Harbor Marinas, LLCSale3,000$131.43$394.3KForm 4
Mar 28, 2024Leupold CraigDirectorSale2,500$128.39$321.0KForm 4
Mar 22, 2024Underwood BaxterCEO - Safe Harbor Marinas, LLCSale4,000$131.48$525.9KForm 4
Mar 5, 2024LEWIS CLUNET RDirectorSale500$131.13$65.6KForm 4
Nov 30, 2023Underwood BaxterCEO - Safe Harbor Marinas, LLCSale2,000$128.99$258.0KForm 4
Aug 30, 2023Farrugia MarcEVP & Chief Admin. OfficerSale4,962$123.90$614.8KForm 4
Aug 22, 2023Underwood BaxterCEO - Safe Harbor Marinas, LLCBuy400$119.93$48.0KForm 4
Aug 14, 2023Underwood BaxterCEO - Safe Harbor Marinas, LLCBuy150$123.59$18.5KForm 4
May 25, 2023Underwood BaxterCEO - Safe Harbor Marinas, LLCBuy400$126.18$50.5KForm 4
Feb 27, 2023LEWIS CLUNET RDirectorSale1,500$148.51$222.8KForm 4
Aug 9, 2022Thelen BruceEVP, COOSale6,892$165.40$1.1MForm 4
Jun 15, 2022LEWIS CLUNET RDirectorSale4,400$153.39$674.9KForm 4
Apr 28, 2022McLaren John BandiniPresident and COOSale11,500$180.27$2.1MForm 4

All 24 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Gary A. ShiffmanChairman and former CEO71$900.0K$12.5M82
2025Charles D. YoungCEO57$218.7K$9.9M82
2025Aaron WeissExecutive Vice President, Chief Investment Officer49$575.0K$7.5M82
2025Fernando Castro-CaratiniExecutive Vice President, CFO, Treasurer and Secretary42$550.0K$6.6M82
2025John McLarenPresident and COO55$600.0K$6.3M82
2025Marc FarrugiaExecutive Vice President, Chief Administrative Officer41$506.4K$6.1M82
2024Aaron WeissExecutive Vice President, Chief Investment Officer49$525.0K$3.5M82
2024John McLarenPresident and COO55$340.7K$3.4M82
2024Gary A. ShiffmanChairman and former CEO71$900.0K$2.7M82
2024Fernando Castro-CaratiniExecutive Vice President, CFO, Treasurer and Secretary42$550.0K$2.6M82
2024Marc FarrugiaExecutive Vice President, Chief Administrative Officer41$475.0K$2.6M82
2023Gary A. ShiffmanChairman and former CEO71$900.0K$11.9M82
2023Fernando Castro-CaratiniExecutive Vice President, CFO, Treasurer and Secretary42$550.0K$3.5M82
2023Aaron WeissExecutive Vice President, Chief Investment Officer49$525.0K$2.9M82
2023Marc FarrugiaExecutive Vice President, Chief Administrative Officer41$475.0K$2.1M82
2023John McLarenPresident and COO55$400.0K$875.6K82

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.13,757,945$1.6B0.0%+1,076,417
Vanguard Portfolio Management LLC10,263,766$1.2B0.1%+94,874
Dodge & Cox9,500,781$1.1B0.6%−4,765,249
Vanguard Capital Management LLC5,494,428$658.8M0.0%+41,354
Norges Bank5,439,467$652.2M0.1%New
Wellington Management Group Llp5,390,114$646.3M0.1%−452,804
State Street Corp5,008,789$606.1M0.0%−204,435
Fmr LLC4,565,468$547.4M0.0%−418,348
Geode Capital Management, LLC2,340,449$279.8M0.0%−45,428
Daiwa Securities Group Inc.1,810,684$217.1M0.5%+42,334
Dimensional Fund Advisors LP1,798,284$215.6M0.0%−14,017
Charles Schwab Investment Management Inc1,648,236$197.6M0.0%+122,128
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC1,536,249$184.2M0.0%+31,497
Citadel Advisors LLC1,465,733$175.8M0.1%+885,795
Millennium Management LLC1,421,561$170.5M0.1%+1,246,211
Canada Pension Plan Investment Board1,307,991$156.8M0.1%+277,000
Legal & General Group Plc1,023,572$122.7M0.0%−52,833
Northern Trust Corp989,742$118.7M0.0%−48,641
Morgan Stanley957,254$114.8M0.0%+150,612
Russell Investments Group, Ltd.927,049$111.2M0.1%−47,933
Deutsche Bank Ag\904,260$108.4M0.0%−331,161
Balyasny Asset Management L.P.866,101$103.9M0.2%+444,173
Jane Street Group, LLC859,712$103.1M0.1%+794,742
Jpmorgan Chase & Co807,182$97.9M0.0%−86,739
Cbre Investment Management Listed Real Assets LLC767,879$92.1M1.3%+231,133

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Sep 8, 2023Lois FrankelDemocratic, HouseSale$1,001 - $15,000+75.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Sun Communities is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSUN COMMUNITIES INC2
  • CIK0000912593
  • Employer ID (EIN)38-273078016
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company16
  • Incorporated inMaryland16
  • Fiscal year endsMay 132
  • Industry code (SIC)6798 Real Estate Investment Trusts2
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance2
  • Business address27777 Franklin Road, Suite 300, Southfield, MI 480342
  • Phone24820825002
  • Shares outstanding123,230,757 as of Apr 21, 202614
  • Public float$15.7B as of Jun 30, 202516
  • AuditorGRANT THORNTON LLP, Southfield, Michigan PCAOB ID 248; it also attests to the company’s internal control over financial reporting16
  • On EDGAR sinceJun 5, 19962
  • Filings1,783 in all: 4 (748), 8-K (374), SC 13G/A (111), 10-Q (91), 424B5 (52), SC 13G (36), 4/A (35), DEF 14A (33)2
    All 44 form types

    10-K (27), 3 (27), UPLOAD (24), DEFA14A (23), 424B3 (16), CORRESP (15), S-3 (15), 8-K/A (14), 424B7 (13), 5 (13), SCHEDULE 13G/A (13), S-3/A (12), ARS (11), S-8 (8), 10-K/A (7), S-3ASR (7), 144 (6), FWP (6), SCHEDULE 13G (5), 424B2 (4), 8-A12B (4), PRE 14A (4), 10-K405 (3), EFFECT (3), POS AM (3), S-3D (3), 10-K405/A (2), 10-Q/A (2), 15-12B (2), 25-NSE (2), 3/A (2), CERTNYS (2), SC 13D (2), 8-A12B/A (1), NT 10-K (1), NT 10-Q (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Jul 28, 2026
    Proxy statement (DEF 14A) Mar 30, 2026
    Latest 8-K (8-K) Oct 2, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par valueSUINew York Stock Exchange

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).16

Risk factors and legal proceedings

The risks Sun Communities names in Item 1A of its 10-K filed Feb 25, 2026: 38 risks under these headings, as written.16

  • General economic conditions and the concentration of our MH, RV, and UK properties in certain geographic areas may affect our ability to generate revenue.
  • Competition affects occupancy levels and rents, which could adversely affect our revenues.
  • The cyclical and seasonal nature of the RV and UK segments may lead to fluctuations in our operating results.
  • We may not be able to integrate or finance our acquisitions and our acquisitions may not perform as expected.
  • Investments through joint ventures involve risks not present in properties in which we are the sole owner.
  • Many of our properties are located in areas that experience extreme weather conditions and natural disasters and climate change may adversely affect our business.
  • We may incur liability under environmental laws arising from conditions at properties we acquire or operations at the properties we own and operate.
  • We are subject to additional risks from our international investments.
  • We may not be able to integrate or finance our expansion and development activities.
  • Public health crises, such as outbreaks of disease, could materially and adversely affect our financial condition, operating results and cash flows.
  • Rent control legislation may harm our ability to increase rents.
  • RISKS RELATED TO OUR DEBT FINANCINGS
The other 27 risks
  • Our debt could limit our operational flexibility or otherwise adversely affect our financial condition, and we may incur more debt in the future.
  • Covenants in our credit agreements and senior unsecured note indentures could limit our flexibility and adversely affect our financial condition.
  • An increase in market interest rates could raise our interest costs on future debt or adversely affect our stock price, and a decrease in interest rates may lead to additional competition for the acquisition of real estate or adversely affect our results of operations.
  • Our hedging strategies may not be successful in mitigating our risks associated with interest rates and could reduce the overall returns on your investment.
  • A downgrade in our credit ratings could have material adverse effects on our business and financial condition.
  • We may suffer adverse tax consequences and be unable to attract capital if we fail to qualify as a REIT.
  • Federal, state, and foreign income tax laws governing REITs and related interpretations may change at any time, and any such legislative or other actions affecting REITs could have a negative effect on us.
  • We intend for the Operating Partnership to be taxed as a partnership, but we cannot guarantee that it will qualify.
  • Partnership tax audit rules could have a material adverse effect on us.
  • Our ability to accumulate cash may be restricted due to certain REIT distribution requirements.
  • Our taxable REIT subsidiaries, or TRSs, are subject to special rules that may result in increased taxes.
  • Dividends payable by REITs do not qualify for the reduced tax rates applicable to certain dividends.
  • Complying with REIT requirements may cause us to forego otherwise attractive opportunities.
  • RISKS RELATED TO OUR STRUCTURE
  • Certain provisions in our governing documents may make it difficult for a third-party to acquire us.
  • Certain provisions of Maryland law could inhibit changes in control, which may discourage third parties from conducting a tender offer or seeking other change of control transactions that could involve a premium price for our common stock or that our shareholders otherwise believe to be in their best interest.
  • GENERAL RISK FACTORS
  • If we fail to maintain an effective system of internal controls, we may not be able to accurately report financial results, which could result in a loss of investor confidence and adversely affect the market price of our common stock.
  • Our share price could be volatile and could decline, resulting in a substantial or complete loss on our shareholders' investment.
  • Substantial sales or issuances of our common or preferred stock could cause our stock price to fall.
  • Our business operations may not generate the cash needed to make distributions on our capital stock or to service our debt, and we may adjust our common stock distribution policy.
  • We rely on key management.
  • Cybersecurity breaches and other disruptions could compromise our information and expose us to liability, which would cause our business and reputation to suffer.
  • The development and use of artificial intelligence ("AI") in the workplace presents risks and challenges that may adversely impact our business and operating results.
  • Losses in excess of our insurance coverage or uninsured losses could adversely affect our operating results and cash flows and upon renewal of our insurance policies, our coverage may change and our costs may increase, including our assumption of a greater proportion of risk through self-insurance.
  • Expanding social media platforms present new challenges.
  • Our operations are subject to regulation under various federal, state, local, and foreign laws and regulations that may expose us to significant costs and liabilities.
  • We may be adversely impacted by fluctuations in foreign currency exchange rates.
  • Deterioration in general economic conditions in the United States, and globally, including the effect of prolonged periods of inflation, could harm our business and results of operations.

Legal proceedings

Legal Proceedings

We are involved in various legal proceedings. Refer to "Legal Proceedings - Class Action Litigation" and "Other Legal Proceedings" in Note 15, "Commitments and Contingencies," in our accompanying Notes to the Consolidated Financial Statements.

Environmental Matters

Item 103 of Regulation S-K requires disclosure of certain environmental matters when a governmental authority is a party to the proceedings and such proceedings involve potential monetary sanctions that we reasonably believe will exceed an applied threshold not to exceed $1.0 million. Applying this threshold, there are no environmental matters to disclose for the year ended December 31, 2025.

The opening of Item 3, Legal Proceedings.16

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