SUN COMMUNITIES, INC
boothcheck covers SUN COMMUNITIES, INC (SUI) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 11, 2026.
• Sun Communities owns the land under manufactured-housing and RV communities, a business where residents own the homes but not the lots, and its FY2025 10-K reports Same Property blended occupancy for MH and RV rising 40 basis points to 99.1 percent, occupancy most property types never see. • After selling its marina platform, the company has turned into a capital-return story: a $1 billion buyback authorization announced in May 2026, $60.1 million repurchased in the first quarter, and full-yea
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494 institutional managers reported holding SUI in 13F filings for the quarter ended 2026-03-31. Together they hold about 93% of the company; the top 10 hold 65%. 54 opened new positions that quarter. Held by Vanguard Group, Dodge & Cox, BlackRock, among others. On the short side, 3.7M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SUI's share count grew 9.4% over the past five years even with $599.20M spent on repurchases. It pays a dividend, and has for 3 years running, raised 2 years straight; the current rate is $7.96 a share annually. Cash returned over the past three years: $1.91B in dividends and $599.20M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at SUI over the trailing three years: 2023: 2 buys totaling $67k; 2025: 1 buy totaling $432k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SUI's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-28 | -5.0% | -10.0% |
| 2023-10-27 | +2.5% | +23.7% |
| 2024-02-29 | +2.3% | -12.8% |
| 2024-05-03 | -6.4% | +1.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SUI's latest 8-K filings: 2026-07-27 (items 2.02, 9.01); 2026-06-01 (items 7.01, 9.01); 2026-05-21 (items 1.01, 2.06, 7.01, 8.01, 9.01); 2026-05-18 (items 5.07); 2026-05-04 (items 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.