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Sun Communities Inc's Business Segments
Sun Communities Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2025
Reportable Segments
2
Largest Segment
MH
Total Revenue
$ 624
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2025
- MH46%
- RV28.8%
Revenue by Reportable Segment - Q2 FY2025
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| MH | $ 287 | 46% |
| RV | $ 180 | 28.8% |
Description of Sun Communities Inc
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.
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.
Sun Communities Inc: Extensive Overview of Segments, Products, and Services
Company Overview:
Sun Communities Inc is a leading real estate investment trust (REIT) that specializes in acquiring, developing, and managing manufactured housing communities (MHCs), recreational vehicle (RV) resorts, and marinas across the United States. The company plays a crucial role in providing affordable housing solutions and recreational options, catering to diverse demographic groups, including families, retirees, and vacationers.
Segments
Sun Communities Inc operates primarily through two segments:
1. Community Operations Segment:
- This segment is at the heart of the company’s operations, focusing on owning and operating a diversified portfolio of manufactured housing communities and RV resorts. The goal is to create vibrant, enjoyable, and sustainable living and vacation environments for residents and guests.
- Within this segment, the managed MHCs and RV resorts offer various lifestyle amenities, fostering a sense of community among residents and visitors.
2. Property Development and Expansion Segment:
- This segment focuses on the strategic development, acquisition, and disposition of MHC and RV properties.
- The company is dedicated to expanding its footprint through both new developments and enhancing existing properties with the aim of maximizing operational efficiency and customer satisfaction.
Products and Services
Sun Communities Inc offers an extensive range of products and services designed to enhance the living and recreational experience in their communities and resorts.
1. Manufactured Housing Communities (MHCs):
- Portfolio Size: The company owns over 400 manufactured housing communities, which are designed to provide affordable housing solutions.
- Amenities: These communities typically feature a variety of amenities such as fitness centers, playgrounds, swimming pools, clubhouses, and community gardens.
- Community Events: Organized activities and events cater to residents preferences, fostering engagement and a sense of belonging within the community.
- Sustainability Initiatives: Efforts to maintain eco-friendly environments and sustainable living practices are part of the overall community management strategy.
2. Recreational Vehicle (RV) Resorts:
- Portfolio Size: Sun Communities operates over 100 well-maintained RV resorts, strategically located to cater to tourists and locals alike.
- Campsite Features: These resorts provide spacious, well-equipped campsites designed for both short-term and extended stays. Facilities often include full hook-up sites, picnic areas, and fire pits.
- Resort Amenities: In addition to basic campsite facilities, resorts typically feature swimming pools, clubhouses, recreational rooms, lakes, and access to marinas.
- Activities and Entertainment: RV resorts frequently host organized activities, including social events, recreational activities, and excursions to local attractions, enhancing the vacation experience for guests.
3. Marinas:
- Location and Services: Sun Communities operates a select number of marinas in Florida and Michigan, catering to the boating community by offering essential services and amenities.
- Services Offered: These marinas provide boat slips, dry storage, fueling stations, boat ramps, and maintenance services.
- Additional Amenities: Many marinas feature on-site restaurants, convenience shops, and relaxation areas, allowing boaters to enjoy a full-service experience while participating in on-water recreational activities.
4. Property Development:
- Development Approach: Sun Communities has a dedicated team of experienced developers and consultants who oversee the design and construction of new communities and the expansion of existing ones.
- Value Creation: The focus is on creating value through carefully planned layouts, upgraded amenities, and sustainable practices that promote long-term growth.
- Market Research: The company employs rigorous market research to identify potential opportunities that align with customer demand, ensuring the developed properties meet the evolving needs of residents and guests.
Commitment to Quality Service
- Customer Experience: Sun Communities Inc prioritizes excellent customer service, aiming to improve the overall experience for residents and visitors. The company actively seeks feedback to enhance its offerings continually.
- Community Engagement: By fostering a strong sense of community, Sun Communities promotes initiatives that encourage resident involvement, creating a lively and engaging environment.
In summary, Sun Communities Inc stands out as a leading player in the affordable housing and recreational sectors, providing remarkable living and vacationing experiences through a comprehensive portfolio of manufactured housing communities, RV resorts, and marinas. The company is committed to sustainable growth, customer satisfaction, and building vibrant communities that adapt to the needs of their residents and guests.
Company Overview:
Sun Communities Inc is a leading real estate investment trust (REIT) that specializes in acquiring, developing, and managing manufactured housing communities (MHCs), recreational vehicle (RV) resorts, and marinas across the United States. The company plays a crucial role in providing affordable housing solutions and recreational options, catering to diverse demographic groups, including families, retirees, and vacationers.
Segments
Sun Communities Inc operates primarily through two segments:
1. Community Operations Segment:
- This segment is at the heart of the company’s operations, focusing on owning and operating a diversified portfolio of manufactured housing communities and RV resorts. The goal is to create vibrant, enjoyable, and sustainable living and vacation environments for residents and guests.
- Within this segment, the managed MHCs and RV resorts offer various lifestyle amenities, fostering a sense of community among residents and visitors.
2. Property Development and Expansion Segment:
- This segment focuses on the strategic development, acquisition, and disposition of MHC and RV properties.
- The company is dedicated to expanding its footprint through both new developments and enhancing existing properties with the aim of maximizing operational efficiency and customer satisfaction.
Products and Services
Sun Communities Inc offers an extensive range of products and services designed to enhance the living and recreational experience in their communities and resorts.
1. Manufactured Housing Communities (MHCs):
- Portfolio Size: The company owns over 400 manufactured housing communities, which are designed to provide affordable housing solutions.
- Amenities: These communities typically feature a variety of amenities such as fitness centers, playgrounds, swimming pools, clubhouses, and community gardens.
- Community Events: Organized activities and events cater to residents preferences, fostering engagement and a sense of belonging within the community.
- Sustainability Initiatives: Efforts to maintain eco-friendly environments and sustainable living practices are part of the overall community management strategy.
2. Recreational Vehicle (RV) Resorts:
- Portfolio Size: Sun Communities operates over 100 well-maintained RV resorts, strategically located to cater to tourists and locals alike.
- Campsite Features: These resorts provide spacious, well-equipped campsites designed for both short-term and extended stays. Facilities often include full hook-up sites, picnic areas, and fire pits.
- Resort Amenities: In addition to basic campsite facilities, resorts typically feature swimming pools, clubhouses, recreational rooms, lakes, and access to marinas.
- Activities and Entertainment: RV resorts frequently host organized activities, including social events, recreational activities, and excursions to local attractions, enhancing the vacation experience for guests.
3. Marinas:
- Location and Services: Sun Communities operates a select number of marinas in Florida and Michigan, catering to the boating community by offering essential services and amenities.
- Services Offered: These marinas provide boat slips, dry storage, fueling stations, boat ramps, and maintenance services.
- Additional Amenities: Many marinas feature on-site restaurants, convenience shops, and relaxation areas, allowing boaters to enjoy a full-service experience while participating in on-water recreational activities.
4. Property Development:
- Development Approach: Sun Communities has a dedicated team of experienced developers and consultants who oversee the design and construction of new communities and the expansion of existing ones.
- Value Creation: The focus is on creating value through carefully planned layouts, upgraded amenities, and sustainable practices that promote long-term growth.
- Market Research: The company employs rigorous market research to identify potential opportunities that align with customer demand, ensuring the developed properties meet the evolving needs of residents and guests.
Commitment to Quality Service
- Customer Experience: Sun Communities Inc prioritizes excellent customer service, aiming to improve the overall experience for residents and visitors. The company actively seeks feedback to enhance its offerings continually.
- Community Engagement: By fostering a strong sense of community, Sun Communities promotes initiatives that encourage resident involvement, creating a lively and engaging environment.
In summary, Sun Communities Inc stands out as a leading player in the affordable housing and recreational sectors, providing remarkable living and vacationing experiences through a comprehensive portfolio of manufactured housing communities, RV resorts, and marinas. The company is committed to sustainable growth, customer satisfaction, and building vibrant communities that adapt to the needs of their residents and guests.