Earnings Releases·Oct 26, 2026, 4:05 PM ET

Sun Communities, Inc. — Third Quarter 2026 Earnings Summary

Net income from continuing operations surged to $137.1 million ($1.07/share) in Q3 2026, reversing a $53.1 million loss in the prior year period, while FFO per share rose to $2.27 from $2.18; however, net income attributable to common shareholders for the nine months fell to a loss of $880.7 million due to discontinued operations adjustments.
Management raised full-year 2026 Core FFO per share guidance to a midpoint of $7.01 and set preliminary 2027 rental rate guidance at 5.4% for Manufactured Housing and 4.4% for Annual RV, citing strong demand and higher expected rate increases entering 2027.
Strategic capital deployment included the completed sale of the UK business for $1.03 billion, $293.3 million in share repurchases during the quarter, and the acquisition of two Manufactured Housing properties in the Pacific Northwest for $79.5 million subsequent to quarter-end.
Balance sheet metrics remain stable with total debt at $3.8 billion (3.3% weighted average rate) and a Net Debt to EBITDAre ratio of 3.2 times, supported by the repayment of $266.6 million in mortgage loans and a 3.6% increase in Same Property NOI for the quarter.