Last $67.73 USD
Change Today -1.89 / -2.71%
Volume 732.4K
SUI On Other Exchanges
As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

sun communities inc (SUI) Snapshot

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01/28/15 - $70.82
52 Week Low
04/14/14 - $42.97
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sun communities inc (SUI) Details

Sun Communities, Inc. operates as a real estate investment trust (REIT). It owns, operates, and develops manufactured housing communities in the midwestern, southern, and southeastern United States. As of April 1, 2011, it owned and operated a portfolio of 136 communities comprising approximately 47,600 developed sites. As a REIT, it would not be subject to federal tax to the extent that it distributes at least 90% of its taxable income to its shareholders. The company, through its subsidiary, Sun Home Services, Inc., also involves in marketing, selling, and leasing new and pre-owned homes. Sun Communities, Inc. was founded in 1975 and is headquartered in Southfield, Michigan.

1,236 Employees
Last Reported Date: 02/20/14
Founded in 1975

sun communities inc (SUI) Top Compensated Officers

Executive Chairman, Chief Executive Officer, ...
Total Annual Compensation: $1.0M
President and Chief Operating Officer
Total Annual Compensation: $600.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $529.5K
Executive Vice President
Total Annual Compensation: $340.0K
Compensation as of Fiscal Year 2013.

sun communities inc (SUI) Key Developments

Sun Communities Inc. Announces Board Appointments

Effective January 6, 2015, the Board of Directors of Sun Communities Inc. increased the number of members of the Board from seven to ten, as permitted under the Company's bylaws, and appointed Randall K. Rowe, James R. Goldman and Ronald A. Klein to serve as directors of the Company until the annual meeting of the Company's stockholders to be held in 2015 and until their successors are elected and qualify. In addition, Mr. Rowe has been appointed to the Executive Committee of the Board; Mr. Goldman has been appointed to the Audit Committee of the Board and has been designated as an audit committee financial expert; and Mr. Klein has been appointed to the Nominating and Corporate Governance Committee of the Board. Mr. Rowe, age 60, served as Chairman of the board of directors of American Land Lease Inc. from 2009 until January 6, 2015. Since 2002, Mr. Rowe has been the Chairman of Green Courte Partners, LLC (GCP). Mr. Rowe was a Co-Founder and Chairman of Transwestern Investment Company, LLC from 1996 to 2002. From 1997 to 2002, Mr. Rowe was Chairman and Chief Executive Officer of Hometown America, LLC. Mr. Goldman, age 55, served as a director of American Land Lease Inc. from 2009 until January 6, 2015. Since 2003, Mr. Goldman has been the Chief Investment Officer of GCP, a Managing Director of GCP from 2003 through 2009 and Vice Chairman of GCP since 2009. From January 2002 through June 2003, Mr. Goldman was a Managing Director with J.R. Goldman & Co. Mr. Klein, age 56, has served as a director and Chief Executive Officer of Origen Financial Inc. (Origen), and its predecessor since February 1999. Since April 2010, he has been a director of Talmer Bancorp Inc. and Talmer Bank. Mr. Klein is also actively involved with several closely-held companies in the real estate industry and the technology industry.

Sun Communities, Inc. Announces Acquisition of Remaining 26 Properties in Second Closing of American Land Lease Manufactured Housing Portfolio from Green Courte Partners

Sun Communities Inc. announced  that  it  has  closed  the  final  portion  of its previously announced  acquisition of manufactured housing communities from Green Courte Partners, LLC sponsored funds. In the second closing, the Company acquired  26 communities  (and  the  associated  manufactured  homes  and  notes receivable)  for aggregate  consideration of  $742.9 million,  consisting of the assumption of $270.8 million of debt, the payment of $107.0 million in cash, the issuance  of $218.9 million  in the Company's  common stock and  the issuance of $146.2 million   in  the  Company's  6.50% Series  A-4 Cumulative  Convertible Preferred   Stock.   Immediately  after  the  closing, the  Company  refinanced approximately  $120.9 million  of the  mortgage debt  on 13 of  the communities, generating  excess proceeds  of $126.0  million, at  a weighted average interest rate of 3.87% per annum and a weighted average term of 14.1 years.

Sun Communities Inc. Declares Common Stock and Preferred Stock Distribution for the Fourth Quarter 2014

Sun Communities Inc. announced that its Board of Directors declared a quarterly distribution of $0.65 per share of common stock for the fourth quarter of 2014. The distribution is payable January 16, 2015 to shareholders of record on December 31, 2014. The company's Board of Directors also declared a distribution of $0.4453125 per share on the company's 7.125% Series A Cumulative Redeemable Preferred Stock. The distribution is payable January 15, 2015 to shareholders of record on January 2, 2015. The company's Board of Directors also declared a distribution of $0.157986 per share on the company's 6.50% Series A-4 Cumulative Convertible Preferred Stock. The distribution is payable on December 31, 2014 to shareholders of record on December 19, 2014.


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