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Sun Communities Inc  (SUI)
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Sun Communities Inc

Business Description


Sun Communities Inc. is a real estate investment trust (REIT) that specializes in owning, managing, and operating manufactured housing communities, recreational vehicle (RV) resorts, and marinas across the United States and Canada. The company was founded in 1975 and is headquartered in Southfield, Michigan.

Sun Communities owns and operates over 400 properties and more than 137,000 sites located in 32 states throughout the US and one province in Canada, providing housing options for over 400,000 residents. The company*s portfolio is divided into two main segments: manufactured housing communities (MHCs) and RV resorts.

MHCs are communities consisting of specially designed, factory-built homes that are typically placed on leased land, offering affordable housing options for families, seniors, and seasonal workers. Sun Communities* MHCs offer various amenities, including clubhouses, swimming pools, playgrounds, and in some cases, onsite management and maintenance staff.

RV resorts are communities that offer sites for RVs and campers, ranging from primitive camping to luxury resorts with full-service amenities. Sun Communities* RV resorts offer amenities such as Wi-Fi, cable television, fire pits, laundry facilities, and recreation facilities.

Apart from its core business in manufactured housing communities and RV resorts, Sun Communities also operates marinas that offer boat slips, boat rentals, and other related services.

The company*s revenue is generated primarily from rent paid by residents of its properties. Sun Communities also earns income from sales of homes within its communities, management services, and other ancillary revenue-generating activities.

Sun Communities has a market capitalization of approximately $22 billion as of September 2021, and its stock is traded on the New York Stock Exchange under the symbol "SUI." The company has a history of consistent revenue and earnings growth, with a focus on dividend payments to its shareholders. Furthermore, Sun Communities has a strong management team, which has prioritized growth through acquisitions and investments in new properties.



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