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Q1 2025 Sun Communities Inc Earnings Call
Wed 07 May 25, 07:11 AMSun Communities Reports 2025 First Quarter Results; Announces Completion of Safe Harbor Sale
Mon 05 May 25, 09:00 PMBlackstone Infrastructure Completes Acquisition of Safe Harbor
Wed 30 Apr 25, 08:07 PMSun Communities, Inc. Completes Sale of Safe Harbor Marinas to Blackstone Infrastructure
Wed 30 Apr 25, 08:01 PMThis Already Resilient 3%-Yielding Dividend Stock is Getting Even Stronger
Tue 29 Apr 25, 11:16 AMCamden (CPT) Surges 4.9%: Is This an Indication of Further Gains?
Thu 10 Apr 25, 01:53 PMHere's How You Can Earn $100 In Passive Income By Investing In Sun Communities Stock
Wed 02 Apr 25, 01:00 AMSun Communities (NYSE:SUI) Declares US$0.94 Per Share Dividend for Q1 2025
Sat 15 Mar 25, 05:25 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 269.90M | 415.06M | 146.68M | 178.25M | 120.25M |
| Minority interest | -21.80000M | -21.49000M | -8.90200M | 9.77M | 8.44M |
| Net income | 242.00M | 380.15M | 131.61M | 161.55M | 107.23M |
| Selling general administrative | 256.80M | 181.21M | 111.29M | 93.96M | 81.44M |
| Selling and marketing expenses | - | 205.77M | - | - | - |
| Gross profit | 1415.40M | 1151.10M | 774.22M | 699.45M | 613.54M |
| Reconciled depreciation | 579.10M | 512.49M | 365.28M | 307.28M | 268.67M |
| Ebit | 588.00M | 462.76M | 293.03M | 300.11M | 259.89M |
| Ebitda | 1192.80M | 985.51M | 669.91M | 628.17M | 547.15M |
| Depreciation and amortization | 604.80M | 522.75M | 376.88M | 328.07M | 287.26M |
| Non operating income net other | 40.30M | 106.60M | -8.12200M | -13.41100M | -6.54500M |
| Operating income | 588.00M | 462.76M | 293.03M | 300.11M | 244.84M |
| Other operating expenses | 2380.70M | 1813.23M | 1102.17M | 968.76M | 861.13M |
| Interest expense | 234.00M | 162.80M | 133.25M | 137.85M | 132.78M |
| Tax provision | 6.10M | 1.33M | -0.77500M | 0.87M | 0.09M |
| Interest income | 231.30M | 12.23M | 126.78M | 137.83M | 134.23M |
| Net interest income | -198.80000M | -150.56800M | -133.24800M | -137.85100M | -132.78300M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | -24.70000M | -1.36200M | -23.00800M | - | 0.47M |
| Other items | - | - | - | - | - |
| Income tax expense | 6.10M | 1.33M | -0.77500M | 0.87M | 0.09M |
| Total revenue | 2934.50M | 2260.37M | 1388.23M | 1246.18M | 1105.97M |
| Total operating expenses | 861.60M | 703.96M | 488.16M | 422.03M | 368.70M |
| Cost of revenue | 1519.10M | 1109.27M | 614.01M | 546.73M | 492.43M |
| Total other income expense net | -318.10000M | -47.69700M | -146.35500M | -121.85300M | -12.66700M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 263.80M | 283.52M | 134.60M | 138.31M | 129.60M |
| Net income applicable to common shares | 242.00M | 380.15M | 131.61M | 160.26M | 105.49M |
| Preferred stock and other adjustments | - | - | - | 1.29M | 1.74M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Total assets | 17084.20M | 13494.08M | 11206.59M | 7802.06M | 6710.03M |
| Intangible assets | 402.00M | 306.75M | 305.61M | 67.52M | 88.30M |
| Earning assets | - | - | - | - | - |
| Other current assets | 17.60M | 12.40M | 15.29M | 12.70M | 12.00M |
| Total liab | 9195.70M | 6763.48M | 5579.26M | 3926.11M | 3542.70M |
| Total stockholder equity | 7809.80M | 6623.90M | 5525.28M | 3819.72M | 3106.82M |
| Deferred long term liab | 13.10M | 6.40M | 11.70M | 4.50M | 4.70M |
| Other current liab | -2019.30000M | -698.93200M | 86.99M | 71.70M | -64.75100M |
| Common stock | 1.20M | 1.16M | 1.08M | 0.93M | 0.86M |
| Capital stock | 1.20M | 290.04M | 236.99M | 51.84M | 42.48M |
| Retained earnings | -1731.20000M | -1555.99400M | -1566.63600M | -1393.14100M | -1288.48600M |
| Other liab | 1315.60M | 755.74M | 322.38M | 186.41M | 181.18M |
| Good will | 1018.40M | 495.35M | 428.83M | - | - |
| Other assets | 14344.50M | 14128.30M | 265.04M | 61.38M | 152.24M |
| Cash | 90.40M | 78.20M | 98.29M | 34.83M | 50.31M |
| Cash and equivalents | 90.40M | 78.20M | 98.29M | 34.83M | 50.31M |
| Total current liabilities | 859.70M | 578.68M | 1665.35M | 516.31M | 324.95M |
| Current deferred revenue | 352.10M | 242.78M | 187.73M | 133.42M | 133.70M |
| Net debt | 9237.40M | 5593.64M | 4588.87M | 3329.66M | 3001.38M |
| Short term debt | 2130.60M | 1034.83M | 1242.20M | 183.90M | 128.00M |
| Short long term debt | 2130.60M | 1034.83M | 1242.20M | 10.00M | 66.10M |
| Short long term debt total | 9327.80M | 5671.83M | 4687.16M | 3364.49M | 3051.69M |
| Other stockholder equity | 9549.70M | 7886.79M | 6851.75M | 5162.35M | 4357.33M |
| Property plant equipment | 13971.00M | 11425.46M | 9715.79M | 7232.62M | 6118.32M |
| Total current assets | 1037.70M | 785.75M | 491.31M | 349.54M | 366.51M |
| Long term investments | - | - | - | 129.53M | 106.92M |
| Net tangible assets | 6592.30M | 6110.67M | 5055.21M | 3897.73M | 3170.41M |
| Short term investments | 127.30M | 186.90M | 124.73M | 94.73M | 7560.95M |
| Net receivables | 617.30M | 469.59M | 221.65M | 157.93M | 267.00M |
| Long term debt | 7197.20M | 5671.83M | 3514.88M | 3250.50M | 2961.03M |
| Inventory | 202.70M | 51.05M | 46.64M | 62.06M | 49.20M |
| Accounts payable | 396.30M | 361.00M | 148.44M | 127.29M | 128.00M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | 78.70M | 106.71M | 102.05M | 56.23M | 60.50M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -9.90000M | 3.05M | 3.18M | -1.33100M | -4.50400M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | 1.20M | 1.16M | 1.08M | 0.93M | 0.86M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | -1731.20000M | -1555.99400M | -1566.63600M | -1393.14100M | -1288.48600M |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 14626.10M | 11906.23M | 9980.83M | 7385.00M | 6255.22M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 16046.50M | 12708.34M | 10715.27M | 7452.52M | 6343.52M |
| Capital lease obligations | - | - | - | - | - |
| Long term debt total | 7197.20M | 5671.83M | 3514.88M | 3250.50M | 2961.03M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -3062.60000M | -147.62000M | -69.98600M | -29.85200M | -24.07600M |
| Change to liabilities | 62.60M | 46.45M | 21.95M | 48.33M | 4.10M |
| Total cashflows from investing activities | -3062.60000M | -2338.24900M | -2486.51700M | -1010.45700M | -733.74300M |
| Net borrowings | 1600.60M | 911.22M | 471.60M | 361.69M | 35.31M |
| Total cash from financing activities | 2348.60M | 1570.39M | 2000.84M | 505.88M | 409.90M |
| Change to operating activities | 62.60M | 46.45M | 21.95M | 48.33M | 4.10M |
| Net income | 263.80M | 413.74M | 147.45M | 177.38M | 120.16M |
| Change in cash | 12.20M | -14.44300M | 63.46M | -27.43200M | 38.75M |
| Begin period cash flow | 78.20M | 92.64M | 34.83M | 62.26M | 23.51M |
| End period cash flow | 90.40M | 78.20M | 98.29M | 34.83M | 62.26M |
| Total cash from operating activities | 734.90M | 753.57M | 548.95M | 476.73M | 363.11M |
| Issuance of capital stock | 1209.60M | 1057.48M | 1850.61M | - | 623.54M |
| Depreciation | 579.10M | 512.49M | 372.63M | 314.72M | 276.07M |
| Other cashflows from investing activities | -2052.70000M | -541.93900M | 55.40M | 61.34M | 4.10M |
| Dividends paid | -434.20000M | -390.81400M | -313.13700M | -276.69700M | 242.81M |
| Change to inventory | -274.00000M | -75.95000M | 10.85M | -44.32200M | -40.30400M |
| Change to account receivables | 5.20M | -1.21700M | 3.27M | 2.99M | -2.29900M |
| Sale purchase of stock | -19.30000M | 4964.60M | -2.00000M | -2.67500M | -4.10500M |
| Other cashflows from financing activities | 4497.30M | -23.17400M | 2057.24M | -23.97600M | 1788.52M |
| Change to netincome | 6.10M | -9.37300M | 3.49M | 18.12M | 15.44M |
| Capital expenditures | 921.00M | 1648.69M | 2484.54M | 1041.94M | 709.67M |
| Change receivables | 5.20M | -1.21700M | -0.17600M | 2.99M | -2.29900M |
| Cash flows other operating | -179.30000M | -212.68700M | 3.44M | -82.07400M | -44.76200M |
| Exchange rate changes | - | - | 0.19M | 0.41M | -0.52300M |
| Cash and cash equivalents changes | 20.90M | -14.28600M | 63.46M | -27.43200M | 38.75M |
| Change in working capital | -206.20000M | -30.71700M | 32.63M | 6.99M | -38.50500M |
| Stock based compensation | 37.60M | 27.99M | 23.05M | 17.48M | 15.07M |
| Other non cash items | 64.80M | -170.01700M | -25.24100M | -39.61500M | -9.16800M |
| Free cash flow | 734.90M | 753.57M | 548.95M | 476.73M | 363.11M |
Sector: Real Estate Industry: REIT - Residential
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SUI Sun Communities Inc |
1.21 0.89% | 136.65 | 73.72 | 58.48 | 5.47 | 2.11 | 7.63 | 19.90 |
| AVB AvalonBay Communities Inc |
-2.26 1.28% | 174.45 | 31.01 | 41.84 | 11.03 | 2.71 | 13.98 | 19.11 |
| EQR Equity Residential |
-0.7 1.13% | 61.48 | 35.33 | 38.31 | 8.20 | 2.12 | 10.94 | 13.97 |
| INVH Invitation Homes Inc |
-0.22 0.85% | 25.75 | 42.22 | 44.44 | 8.97 | 2.05 | 12.04 | 19.45 |
| ESS Essex Property Trust Inc |
-1.05 0.41% | 254.29 | 30.13 | 40.98 | 9.62 | 2.85 | 12.97 | 16.74 |
Established in 1975, Sun Communities, Inc. became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of September 30, 2023, the Company owned, operated, or had an interest in a portfolio of 670 developed MH, RV and Marina properties comprising approximately 180,170 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.
27777 Franklin Road, Southfield, MI, United States, 48034
| Name | Title | Year Born |
|---|---|---|
| Mr. Gary A. Shiffman | Chairman & CEO | 1954 |
| Mr. John Bandini McLaren | Pres & COO | 1971 |
| Ms. Karen J. Dearing | Exec. VP of Special Projects, Treasurer & Sec. | 1965 |
| Mr. Bruce D. Thelen | Exec. VP of Operations & Sales | 1985 |
| Mr. Aaron Weiss | Exec. VP of Corp. Strategy & Bus. Devel. | 1977 |
| Mr. Fernando Castro-Caratini | Exec. VP & CFO | NA |
| Mr. Marc Farrugia | Exec. VP & Chief Admin. Officer | NA |
| Mr. Baxter R. Underwood | Chief Exec. Officer of Safe Harbor Marinas, LLC | 1978 |
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