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NYSE · Real Estate

Sun Communities Inc. (SUI)

As-reported financials and SEC filings for Sun Communities Inc. The latest annual period is FY2025. The latest reported quarter is Q1 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Sun Communities Inc.

Sun Communities Inc is a real estate investment trust that owns and operates manufactured housing and recreational vehicle communities in the United States, Canada, and the United Kingdom. The company leases land sites for manufactured homes and RVs, providing affordable housing and vacation options with various amenities. It also sells new and pre-owned homes through its subsidiary Sun Home Services and manages holiday parks in the UK.

Snapshot

Revenue
$2.31B
Revenue growth (YoY)
2.0%
Net income
$1.41B
Diluted EPS
$10.84
Gross margin
—
Operating margin
—
Net margin
61.3%
FCF margin
17.7%
ROE
—
net income / fiscal-year-end equity
P/E
90.3×
trailing when available, otherwise FY EPS
Market cap
$14.72B
Long-term debt / equity
—
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Sun Communities

  • Revenue grew 2.0% to $2.3B in FY2025, after a 1.0% decline the year before.
  • Most recent quarter Q1 FY2026: revenue $508M, up 8.0% from Q1 FY2025.
  • Free cash flow was $407M in FY2025, 17.7% of revenue.
  • Net income rose more than tenfold to $1.4B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Sun Communities’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin61.3%
97th percentile of 157
FCF margin17.7%
58th percentile of 27
Revenue growth (YoY)+2.0%
43rd percentile of 161
P/E90.3×
90th percentile of 105
Short interest5.59d
74th percentile of 154

Sun Communities’s net margin of 61.3% ranks in the 97th percentile of the 157 REITs reporting it. Sun Communities’s P/E of 90.3 ranks in the 90th percentile of the 105 peers with a meaningful P/E.

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+5 quant / multi-strat
Initiated / added
5
2 new, 3 added
Reduced / exited
3
2 trimmed, 1 exited
Combined position
$1.51B
reported long value
InvestorAs ofPosition valueSharesChange
Dodge & CoxQ2 2026$1.14B9.5MReduced
Citadel AdvisorsquantQ2 2026$175.8M1.5MAdded
Millennium ManagementquantQ2 2026$170.5M1.4MAdded
AQR Capital ManagementquantQ2 2026$11.6M97.7KReduced
Gotham Asset ManagementQ2 2026$7.5M62.6KAdded
Point72 Asset ManagementquantQ2 2026$3.4M28.6KNew
D. E. ShawquantQ2 2026$505,4214.2KNew

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
0
—
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-24
filed 2026-06-25
Gary A. ShiffmanDirectorSell25.0K$119.96$3.0M
2026-05-26
filed 2026-05-27
Fernando Castro-CaratiniEVP, CFO, Sec. & Treas.Sell21.3K$124.37$2.6M
2026-05-26
filed 2026-05-27
Fernando Castro-CaratiniEVP, CFO, Sec. & Treas.Sell2.5K$124.97$311K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
6.9M
settled 2026-09-30
Change vs prior
+23.5%
vs previous settlement
Days to cover
5.59
at avg daily volume
Avg daily volume
1.2M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-306.9M+23.5%5.59
2026-09-155.6M-4.5%5.57
2026-08-315.9M+42.3%2.03
2026-08-144.1M+0.2%4.02
2026-07-314.1M+22.1%1.76
2026-07-153.4M-4.3%2.69
2026-06-303.5M-4.6%2.65
2026-06-153.7M+9.6%3.00

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$2.31B$2.26B$2.28B$2.97B$1.60B
Gross profit———
Operating income—————
Pre-tax income$-257.4M$-122.9M$-54.4M—$284.9M
Net income$1.41B$103.6M$-206.9M$261.4M$408.3M
Diluted EPS$10.84$0.71$-1.72$2.00$3.36

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$569.6M$47.9M$29.2M$72.8M$65.8M
Current assets—————
Total assets$12.52B$16.55B$16.94B$17.08B$13.49B
Current liabilities—————
Long-term debt—$7.39B$7.82B$7.24B$5.7M
Total liabilities$5.19B$9.10B$9.51B$8.99B$6.47B
Total equity$7.07B$7.19B$7.17B$7.89B$6.73B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$864.2M$861.0M$790.5M$734.9M$753.6M
Capital expenditure$457.0M$30.2M$7.1M——
Free cash flow——

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$507.9M8.0%$-6.4M$-0.07
Q4 FY20250.1%—
Q3 FY2025$697.2M2.5%$12.1M$0.07
Q2 FY2025$623.5M4.6%$1.31B$10.02
Q1 FY2025$470.2M0.2%$-41.2M$-0.34
Q4 FY2024——
Q3 FY2024$680.4M-30.8%$300.5M$2.31
Q2 FY2024$596.3M-30.9%$56.7M$0.42

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ1 FY2026 (ended March 31, 2026)
Oldest indexed filing2015
SEC CIK912593

Selected SEC filings

10-Q2026-07-28
View on EDGAR →
10-Q2026-04-28
View on EDGAR →
8-K2026-10-02
View on EDGAR →
8-K2026-09-23
View on EDGAR →
8-K2026-09-09
View on EDGAR →
8-K2026-08-27
View on EDGAR →

Largest reit peers

All reit stocks →All Real Estate companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.