On October 26, 2026, Sun Communities, Inc. (NYSE: SUI) filed a Current Report on Form 8-K announcing its financial results for the third quarter of 2026 and updating its guidance for the remainder of the year. The company reported net income attributable to continuing operations of $137.1 million, or $1.07 per diluted share, for the quarter ended September 30, 2026, a significant improvement compared to a net loss of $53.1 million, or $0.45 per diluted share, in the prior year.
Funds from Operations (FFO) per share for the quarter was $2.27, while Core FFO per share was $2.35. For the nine months ended September 30, 2026, Core FFO per share was reported at $5.59. The company also noted that Same Property Net Operating Income (NOI) increased by 3.6% for the quarter and 5.2% for the nine-month period.
In terms of portfolio performance, the company reported a Same Property adjusted blended occupancy rate of 98.8% for MH and RV properties as of September 30, 2026. The company also completed the sale of its UK business on September 22, 2026, receiving net cash proceeds of approximately $1.03 billion after closing costs.
Regarding capital markets activity, the company repurchased approximately 2.4 million shares of common stock during the quarter at an average price of $119.24 per share, totaling $293.3 million. As of September 30, 2026, the company had $3.8 billion in debt outstanding with a weighted average interest rate of 3.3%.
Guidance for 2026 has been updated. The company now expects Core FFO per share of $7.01 at the midpoint. The company also established preliminary 2027 full-year rental rate guidance, projecting increases of 5.4% for manufactured housing (MH) and 4.4% for annual recreational vehicles (RV).
