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Posts Tagged ‘Sun Communities Inc.’

Sun to Release Second Quarter Financials July 28

July 26th, 2011 Comments off

Zacks Investment Research reports SmarTrend issued an uptrend for Sun Communities, Inc., (NYSE:SUI) June 20, 2011, and since then the stock has risen 3.3 percent. For the second quarter 2011, analysts expect a loss of .12 cents per share on sales of $53 million to be announced July 28, 2011. Analysts anticipate earning per share (EPS) of .10 cents for the full year. The previous year-ago period produced a loss of .13 cents a share. In the first quarter 2011, Sun doubled EPS above what was expected to 12 cents a share. According to the Allen Report, Sun Communities ranks as the fourth largest land lease community (LLC) operator in North America.

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Sun Communities to Release 2011 Q2 Financials

July 6th, 2011 Comments off

Market Watch reports that Sun Communities, Inc. (NYSE:SUI) will release its second quarter 2011 earnings report prior to the opening of the market on July 28, 2011.  A conference call to discuss the earnings report will be held that same day at 11:00 AM.  Sun Communities is a real estate investment trust (REIT) that owns and operates 155 manufactured housing and recreational vehicle communities comprising 53,500 sites.

Sun Declares Quarterly Dividend

July 1st, 2011 Comments off

Market Watch says Sun Communities, Inc., (NYSE:SUI) has declared a quarterly dividend of $0.63 per share for the second quarter 2011, payable July 22, 2011 to shareholders as of July 12, 2011.  The company has 21.5 million outstanding shares.  Sun Communities, a real estate investment trust (REIT) owns and operates 155 manufactured housing and recreational vehicle communities with 53,500 sites.

Land Lease Community Ownership Conglomerates Again

June 30th, 2011 Comments off

Reuters reports that Sun Communities, Inc., of Southfield, Michigan, whose portfolio includes 155 communities and 53,500 sites, acquired 17 manufactured home communities and one RV community from Kentland Corporation of Grand Rapids, MI for $142.3 million.  The 18 communities are in western Michigan and include 5,042 manufactured home sites and 281 RV sites.  The transaction also includes 191 manufactured homes and $3.5 million of chattel notes with manufactured homes as collateral.  The 2011 Allen Report ranks Sun Communities as the fourth largest land lease community (LLC) in the country and Kentland as number 31.

Sun (Communities) Becoming More Orange

June 1st, 2011 Comments off

RVBusiness says that real estate investment trust (REIT) Sun Communities, Inc., of Southfield, Michigan, acquired Orange City RV Resort in Orange City, Florida, for $6.47 million cash.  Orange City has 517 RV sites and is less than 50 miles to Disney World and the Daytona Beach area.  According to the 2011 Allen Report, Sun operates manufactured home communities with 47,579 homesites and is ranked fourth largest land lease community (LLC).

Sun Communities is Currently a Good Stock to Buy

May 11th, 2011 Comments off

Zaquisha says the real estate investment trust (REIT) Sun Communities, Inc. (NYSE:SUI) was up 2.74 percent yesterday to close at $39.05, its 52-week high.  The report says it is a parabolic SAR (stop and reverse) in a trending market and could make for a good buy.  Its volume yesterday was 87,907.00 shares, opening at $38.04.  Its low in the last year was $25.60.  It has 20.83M outstanding shares, and its market capitalization is $812.80M.  As of December 31, 2009, Sun owned and operated 124 manufactured housing communities in 18 states in the Midwest and southern United States, and also owned four RV communities as well as eight combined manufactured housing and RV communities.  According to George F. Allen’s 2011 Allen report, Sun was ranked as the fourth largest land lease community (LLC) in the country.

Tornado Preparedness in Southeast Pennsylvania

May 2nd, 2011 Comments off

From Pennsylvania, Lancaster Online spoke with emergency management officials concerning tornado preparedness in southeastern Pennsylvania, in the wake of the devastating tornadoes in the southern U.S.  The area has several land lease communities, and is the single area in the state where tornadoes historically have struck.  The Lancaster County Emergency Management Agency issued a directive advising anyone who lives in a home without a basement to seek shelter elsewhere.  Noting the recent tornado that swept through the St. Louis Airport, Randall S. Gockley, the agency’s coordinator, says to avoid large-spanned buildings, such as a gymnasium or auditorium, or buildings like the airport that have large glass panels.  He says everyone should have a weather radio, and that once a warning is issued, people generally have eight to 13 minutes to seek shelter.  Sun Communities, Inc., which manages the 500-homesite Pheasant Ridge community, notes it would require an extensive structure to shelter over 1200 residents.  According to the National Weather Service, of the 45 people who died in last year’s tornadoes, more than half did not live in factory-built housing.  See Tornado Survival, The Media and Manufactured Home News, Customer and Business Success, More tornado destruction to conventional construction than to mobile or manufactured homes and Positive Response of Manufactured Housing Industry and Opportunity For You concerning the safety of manufactured housing in extreme weather.

Price Target on Shares of Sun Communities Raised

April 13th, 2011 Comments off

American Banking & Market News reports that Sun Communities, Inc. (NYSE: SUI), which owns and operates 124 manufactured housing communities in the United States, reported earnings per share (EPS) of .78 cents for the previous quarter.  This is .08 cents per share better than the same quarter in the previous year.  Quarterly revenue increased 1.1 percent on a year-over-year basis.  As a result, analysts at The Benchmark Company raised their price target on shares of Sun from $36.00 to $39.00, and issued a “buy” on the stock.