Sun Communities, Inc. declared a quarterly distribution of $0.94 per share, payable January 15, 2025.
Quiver AI Summary
Sun Communities, Inc. has announced a quarterly distribution of $0.94 per share of common stock for the fourth quarter of 2024, with payment scheduled for January 15, 2025, to shareholders of record as of December 31, 2024. The company, a real estate investment trust (REIT), is involved in owning and operating manufactured housing and recreational vehicle communities, as well as marinas, with a portfolio that includes 659 developed properties and approximately 179,130 developed sites along with 48,760 wet slips and dry storage spaces across the United States, Canada, and the United Kingdom.
Potential Positives
- Quarterly distribution of $0.94 per share demonstrates the company’s commitment to returning value to shareholders.
- The scheduled payment date of January 15, 2025, provides clarity for investors regarding future cash flows.
- The company's diverse portfolio of 659 developed properties across multiple countries suggests strong operational stability and growth potential.
Potential Negatives
- The announcement of a quarterly distribution may signal the company's struggle to maintain growth or satisfactory returns as consistent dividend payments can indicate a lack of alternative investment opportunities for the company.
- The timing of the distribution payment, set for January 15, 2025, with a record date of December 31, 2024, may suggest cash flow constraints that delay immediate benefits to shareholders.
- By focusing on dividend distributions, the company may be perceived as prioritizing short-term shareholder returns over long-term investment in property development and expansion, potentially impacting future growth prospects.
FAQ
What is the quarterly distribution announced by Sun Communities?
Sun Communities declared a quarterly distribution of $0.94 per share of common stock for Q4 2024.
When will the distribution be paid to shareholders?
The distribution is payable on January 15, 2025, to shareholders of record on December 31, 2024.
How many properties does Sun Communities own?
As of September 30, 2024, Sun Communities owned, operated, or had an interest in 659 developed properties.
What types of properties does Sun Communities manage?
Sun Communities manages manufactured housing communities, recreational vehicle communities, and marinas.
How can I contact Sun Communities for more information?
For more information, you can contact Fernando Castro-Caratini at 248-208-2500 or visit www.suninc.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SUI Insider Trading Activity
$SUI insiders have traded $SUI stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $SUI stock by insiders over the last 6 months:
- BAXTER UNDERWOOD (CEO - Safe Harbor Marinas, LLC) sold 3,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SUI Hedge Fund Activity
We have seen 238 institutional investors add shares of $SUI stock to their portfolio, and 296 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NORGES BANK added 2,355,487 shares (+54.6%) to their portfolio in Q2 2024
- FMR LLC added 1,430,630 shares (+37.6%) to their portfolio in Q3 2024
- COHEN & STEERS, INC. added 1,183,545 shares (+10.4%) to their portfolio in Q3 2024
- UBS ASSET MANAGEMENT AMERICAS LLC removed 1,064,331 shares (-90.3%) from their portfolio in Q2 2024
- PRINCIPAL FINANCIAL GROUP INC removed 1,003,445 shares (-28.7%) from their portfolio in Q3 2024
- PRICE T ROWE ASSOCIATES INC /MD/ added 891,169 shares (+23.8%) to their portfolio in Q3 2024
- JPMORGAN CHASE & CO removed 635,513 shares (-39.1%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Southfield, MI, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company”), a real estate investment trust (“REIT”) that owns and operates, or has an interest in, manufactured housing (“MH”) and recreational vehicle (“RV”) communities and marinas (collectively, the "properties"), today announced its Board of Directors declared a quarterly distribution of $0.94 per share of common stock for the fourth quarter of 2024. The distribution is payable on January 15, 2025 to shareholders of record on December 31, 2024.
About Sun Communities, Inc.
Sun Communities, Inc. is a REIT that, as of September 30, 2024, owned, operated, or had an interest in a portfolio of 659 developed properties comprising approximately 179,130 developed sites and approximately 48,760 wet slips and dry storage spaces in the United States, Canada, and the United Kingdom.
For Further Information at the Company:
Fernando Castro-Caratini
Chief Financial Officer
(248) 208-2500
www.suninc.com
