Quarterly ResultJul 27, 2026, 04:38 PM
Sun Communities Q2 Core FFO $1.84; Raises 2026 Same Property NOI Guidance
AI Summary
Sun Communities reported a Q2 2026 net loss of $8.08 per diluted share, primarily due to a $1.1 billion non-cash valuation allowance charge related to the planned divestment of its UK business. However, net income from continuing operations was $0.32 per diluted share, and Core FFO per share increased to $1.84. The company also raised its 2026 Same Property Net Operating Income growth guidance to 4.5%-5.3% and announced a $1.0 billion stock repurchase program.
Key Highlights
- Q2 Net Loss per Diluted Share $8.08, including discontinued operations.
- Q2 Net Income per Diluted Share from Continuing Operations $0.32.
- Q2 Core FFO per Share $1.84, up from $1.76 in Q2 2025.
- Same Property NOI grew 6.0% for the quarter, driven by Manufactured Housing.
- Increased 2026 Same Property NOI growth guidance to 4.5%-5.3%.
- Entered agreement to sell UK business (Park Holidays) for £785.7M ($1.04B).
- Authorized $1.0B stock repurchase program, repurchased $111.1M in Q2.
- Repaid $177.9M in mortgage term loans in Q2, unencumbering seven properties.
Price Impact
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