Sun Communities Q2 2021 Earnings Report
Key Takeaways
Sun Communities, Inc. reported a significant increase in total revenues and net income for the quarter ended June 30, 2021. Total revenues increased by 99.1 percent to $603.9 million, and net income attributable to common stockholders increased by 88.0 percent to $110.8 million, or $0.98 per diluted common share. The company also increased its guidance for the year.
Total revenues increased by 99.1% to $603.9 million compared to the same period in 2020.
Net income attributable to common stockholders increased by 88.0% to $110.8 million, or $0.98 per diluted common share.
Core Funds from Operations (FFO) increased by 60.7% to $1.80 per diluted share.
Home Sales Volume increased 89.5 percent to 1,158 homes.
Sun Communities
Sun Communities
Sun Communities Revenue by Segment
Forward Guidance
The Company is providing revised or initial 2021 guidance for the following metrics:
Positive Outlook
- Basic earnings per share revised range FY 2021E: $2.24 - $2.36
- Core FFO per fully diluted Share revised range FY 2021E: $6.25 - $6.37
- Same Community NOI growth revised range FY 2021E: 9.9% - 10.7%
- Basic earnings per share revised range 3Q 2021E: $0.90 - $0.96
- Core FFO per fully diluted Share revised range 3Q 2021E: $2.00 - $2.06
Revenue & Expenses
Visualization of income flow from segment revenue to net income