Sun Communities Reports Q2 Net Loss As Revenue Declines

(RTTNews) - Sun Communities, Inc. (SUI) on Monday reported a net loss attributable to common shareholders of $992.7 million, or $8.08 per share, for the second quarter ended June 30, 2026, compared with net income of $1.27 billion, or $10.02 per share, in the prior-year period, primarily reflecting losses from discontinued operations.

Total revenue declined 2.3 percent to $484.6 million from $495.9 million a year earlier. Revenue from real property excluding transient income increased 8.0 percent to $362.1 million, while transient real property revenue fell 4.7 percent to $60.6 million.

Total expenses declined 23.7 percent to $434.4 million from $569.1 million, driven by the absence of a prior-year loss on debt extinguishment, partly offset by higher depreciation and operating costs.

For the quarter, Core FFO increased to $234.0 million, or $1.84 per share, from $231.9 million, or $1.76 per share, in the prior-year period.

SUI is currently trading after hours at $119.89, down $1.55 or 1.27 percent on the New York Stock Exchange.