{ "ok": true, "cik": "912593", "ticker": "SUI", "name": "SUN COMMUNITIES, INC", "filings": [ { "form": "8-K", "filed": "2026-09-23", "items": [ "2.01 Completion of Acquisition or Disposition of Assets", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000256/0000912593-26-000256-index.htm" }, { "form": "8-K", "filed": "2026-09-09", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000254/0000912593-26-000254-index.htm" }, { "form": "8-K", "filed": "2026-08-27", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000243/0000912593-26-000243-index.htm" }, { "form": "8-K", "filed": "2026-08-25", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000240/0000912593-26-000240-index.htm" }, { "form": "10-Q", "filed": "2026-07-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000234/0000912593-26-000234-index.htm" }, { "form": "8-K", "filed": "2026-07-27", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000231/0000912593-26-000231-index.htm" } ], "events12m": 18, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000912593.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=912593" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up SUN COMMUNITIES, INC ($SUI). Last filing: 8-K (2.01 Completion of Acquisition or Disposition of Assets), 2026-09-23. 18 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2026-05-13.", "auditor": { "changes": [ { "filed": "2026-05-13", "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000167/0000912593-26-000167-index.htm" }, { "filed": "2026-03-27", "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000129/0000912593-26-000129-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 2306100000, "revenueGrowth1y": 0.020172528201725326, "revenueGrowthPerYear": 0.003665008664233138, "yearsOfData": 5, "operatingMargin": null, "operatingMarginPrior": null, "netMargin": 0.6201812584016304, "operatingCashFlow": 864200000, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 569600000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 2272600000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 2969700000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 2284100000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 2260500000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 2306100000 } ], "totalEquity": 6956100000, "totalAssets": 12522900000, "equityRatio": 0.5554703782670148, "returnOnEquity": 0.20560371472520522, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": 7.96, "dividendYearsRising": 9, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 10.84, "sharesOutstanding": 124900000, "bookValuePerShare": 55.693354683746996, "revenuePerShare": 18.463570856685347, "range80": { "low": 1705103848.314023, "high": 2799936082.098349, "baseline": 2236141032.7443976, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.21674049791043265, "classVolatility": 0.07701947805587882, "volatility": 0.16264753830670517 }, "ifPaceHeld": { "low": 1705103848.314023, "high": 2799936082.098349 } }, "edgarette": "🔖 Exposure: revenue $2.3B (FY2025). Experience: revenue up 2.0% on the year, up 0.4% a year over 4 years. Soundness: equity 55.5% of assets, return on equity 20.6%, dividend per share up 9 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.7B and $2.8B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $1.4B to $3.4B. A range, not a forecast. Against peers (79 filers, $50M+ revenue, real estate investment trusts): growth 2.0% against 3.7%.", "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "summary": "Sun Communities (SUI) grew revenue 2.0% in FY2025 to $2.3 billion, equity 55.5% of assets, and dividend per share up 9 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
SUN COMMUNITIES, INC against its own record and its peers
Revenue, on the yearPeer median 3.7%2.0%Equity of assetsPeer median 38.8%55.5%Return on equityPeer median 2.5%20.6%Gold tick: the median of 128–154 peers with $50M+ revenue in real estate investment trusts
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profitHanded back per share$7.96up 9 years runningRevenue growth it managed2.0%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 13, "hits": 10, "rate": 0.7692307692307693, "method": "v4", "byYear": { "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 0, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-24T14:19:14.724Z", "hash": "2985139c086c6e8a", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Sun Communities (SUI) grew revenue 2.0% in FY2025 to $2.3 billion, equity 55.5% of assets, and dividend per share up 9 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 2306100000, "totalDebt": null, "cash": 569600000 }, "experience": { "revenueGrowth1y": 0.020172528201725326, "revenueGrowthPerYear": 0.003665008664233138, "operatingMargin": null, "operatingMarginPrior": null, "netMargin": 0.6201812584016304, "freeCashFlow": null }, "soundness": { "equityRatio": 0.5554703782670148, "returnOnEquity": 0.20560371472520522, "payoutRatio": null, "dividendPerShare": 7.96, "dividendYearsRising": 9, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2026-05-13", "url": "https://www.sec.gov/Archives/edgar/data/912593/000091259326000167/0000912593-26-000167-index.htm" } }, "range": { "low": 1705103848.314023, "high": 2799936082.098349, "baseline": 2236141032.7443976, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.21674049791043265, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.16264753830670517, "k": 3 }, "stress": { "low": 1422610345.9134088, "high": 3356517779.4876704, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 13, "hits": 10, "rate": 0.7692307692307693, "method": "v4", "byYear": { "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 0, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-24T14:19:14.724Z", "hash": "2985139c086c6e8a", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000912593.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=912593" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }