REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-07-28 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
SUI posted a $992.7M net loss attributable to common shareholders in Q2 2026, driven by a $1.1B non-cash valuation allowance on its UK Park Holidays business now held for sale, even as continuing operations earned $42.3M.
Biggest Revenue Drivers
MH communities$295.7M
Real property revenue growth driven by a 4.9% increase in monthly base rent and occupancy gains
RV communities$179.4M
Growth in Real property (excluding transient) revenue was largely offset by a decrease in seasonal Transient revenue
Biggest Revenue Drivers
Total revenue: $484.6M
MH communities$295.7M
Real property revenue growth driven by a 4.9% increase in monthly base rent and occupancy gains
RV communities$179.4M
Growth in Real property (excluding transient) revenue was largely offset by a decrease in seasonal Transient revenue
Within RV communities
Real property - transient (RV)$60.4M
Seasonal RV vacation-site revenue, concentrated in the April-through-September period
Largest Expense Items
Depreciation and amortization$123.9M+5.6% YoY
General and administrative$49.9M-1.4% YoY
Included $4.9 million of accelerated share-based compensation expense tied to executive leadership transitions
Interest expense$38.1M-30.0% YoY
Decreased due to settlement of $3.2 billion in debt obligations in 2025 using Safe Harbor Sale proceeds
Asset impairments$17.9M-46.4% YoY
2026 charge relates to two MH/RV land development parcels vs. $32.2M at three RV properties in 2025
Margins: Real Property NOI rose $19.2 million, or 8.0%, YoY on same-property rent and occupancy gains, while Home sales NOI margin compressed to 11.9% from 16.3% on fewer units sold.
Watch Items from the Filing
A $1.1 billion non-cash valuation allowance on the UK Park Holidays business (held for sale) drove a $1,067.2 million loss from discontinued operations; the ~$1.04 billion sale awaits UK regulatory approval.
SUI faces consolidated antitrust litigation alleging manufactured-home operators shared non-public rent data; the company cannot estimate a loss range and says an adverse outcome could be material.
Home sales revenue fell 33.5% YoY to $27.8 million as units sold dropped 32.1% to 326, with NOI margin compressing to 11.9% from 16.3%.
Board authorized a new $1.0 billion stock repurchase program in May 2026; $171.2 million repurchased through June 30 plus $89.0 million more in July, leaving $888.9 million available.
100% of total debt was fixed-rate as of June 30, 2026, with leverage of 28.4% (vs. a 60% covenant limit) and fixed charge coverage of 5.01x (vs. a 1.40x minimum).
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About SUN COMMUNITIES INC (SUI): stock profile, AI score and financials
SUN COMMUNITIES INC (SUI) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores SUI at 34.5/100 on a composite quality score built from its SEC filings, placing it at rank #127 of 148 stocks — the bottom half of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), SUN COMMUNITIES INC reports quarterly revenue of $484.6M, net income of $-1.0B. Top institutional holders of SUI by reported 13-F value include BlackRock, COHEN & STEERS, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. SUI trades on the NYSE exchange and files with the SEC under CIK 912593. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SUI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SUN COMMUNITIES INC directly from SEC EDGAR.