Analyst Consensus ?
ConsensusBuy21 ratings
Bullish1361.9%
Neutral628.6%
Bearish29.5%
Sun Communities, Inc. · SUI · FY2026 Q2 · Calendar Q3 2026
Sun Communities raises NOI outlook as housing demand stays strong
The latest call supports a constructive operating case for Sun Communities: affordable-housing demand, limited supply, occupancy above 98%, and technology investments were paired with a raised same-property NOI outlook. The key counterweights are RV transient-demand variability, leverage and debt-issuance questions, and execution around the UK sale and acquisitions.
Reported After market closeNYSEReal Estate
$14.00B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$8.06
Consensus $0.66
EPS surprise
+1117.5%
Reported versus consensus
Reported revenue
$484.6M
Consensus $623.4M
Revenue surprise
-22.3%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+2.2%
Event window
SPY move
+0.2%
Same window
Abnormal move
+1.9%
Stock minus SPY
Volume
3.5×
Versus trailing sessions
Subsequent drift
+1.5%
Up to 20 sessions
SUISPY benchmark
Ask FN2 about SUI FY2026 Q2
Transcript, numbers and history already loaded
Why did SUI rise 2.2% after beating EPS estimates in FY2026 Q2?What changed in SUI's guidance and outlook in FY2026 Q2?Give me the bull and bear case for SUI after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management raised the same-property NOI outlook, announced the sale of the UK business, launched a new $1 billion share-repurchase program, and described further investment in technology and automation.
Guidance delta
Management raised the same-property NOI outlook after core FFO exceeded the high end of guidance.
Key takeaways
- Core FFO exceeded guidance and the same-property NOI outlook was raised.
- Manufactured-housing occupancy remained above 98%, with strong NOI growth highlighted.
- The UK business sale is intended to simplify the portfolio and provide cash for debt repayment.
- The company accelerated share repurchases and announced a new $1 billion program.
- Management cited technology, automation, and people investments as productivity priorities.
Management priorities
- Complete the UK business sale in the second half of the year.
- Continue disciplined share repurchases within the $1 billion program.
- Pursue selective, high-return acquisitions in core manufactured-housing and RV markets.
- Invest further in technology platforms and automation across manufactured housing and RV operations.
- Maintain focus on people, leadership development, and operational optimization.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$114.97Previous close
$117Low
$146.7Average
$263High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Oct 19, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 14, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 13, 2026 |
| UBS | Neutral | Neutral | Maintain | Oct 6, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Sep 21, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 21, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 11, 2026 |
| B of A Securities | Neutral | Underperform | Upgrade | Aug 27, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 12, 2026 |
| Baird | Neutral | Neutral | Maintain | Mar 6, 2026 |
| Citigroup | Buy | Buy | Maintain | Mar 2, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Jun 25, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | May 20, 2025 |
| Jefferies | Buy | Buy | Maintain | Jan 2, 2025 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 7, 2024 |
| Compass Point | Neutral | Neutral | Maintain | Mar 21, 2024 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jul 12, 2023 |
| Berenberg | Buy | Buy | Maintain | Oct 1, 2020 |
| Imperial Capital | Outperform | Outperform | Maintain | Oct 30, 2013 |
| Bank of America | Underperform | Underperform | Maintain | Feb 13, 2013 |
| Bank oferica | Underperform | Underperform | Maintain | Mar 16, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $114.97. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $136 | $118.08 | +18.3% | Oct 19, 2026 |
| UBS | Analyst unavailable | $117 | $111.84 | +1.8% | Oct 6, 2026 |
| Evercore ISI | Analyst unavailable | $136 | $114.45 | +18.3% | Sep 21, 2026 |
| UBS | Analyst unavailable | $136 | $113.75 | +18.3% | Sep 21, 2026 |
| Evercore ISI | Analyst unavailable | $138 | $114.48 | +20.0% | Sep 14, 2026 |
| Truist Financial | Analyst unavailable | $136 | $114.93 | +18.3% | Sep 11, 2026 |
| Morgan Stanley | Analyst unavailable | $126 | $118.67 | +9.6% | Aug 12, 2026 |
| Wells Fargo | Analyst unavailable | $141 | $120.44 | +22.6% | Aug 10, 2026 |
| RBC Capital | Brad Heffern | $148 | $124.4 | +28.7% | Jul 29, 2026 |
| Barclays | Analyst unavailable | $146 | $120.8 | +27.0% | Jul 14, 2026 |
| Odeon Capital Group LLC | Analyst unavailable | $135 | $119.24 | +17.4% | Jul 9, 2026 |
| Mizuho Securities | Analyst unavailable | $137 | $121.23 | +19.2% | Jun 30, 2026 |
| Truist Financial | Analyst unavailable | $138 | $119.77 | +20.0% | Jun 26, 2026 |
| RBC Capital | Analyst unavailable | $149 | $123.6 | +29.6% | Jun 5, 2026 |
| Colliers Securities | Analyst unavailable | $150 | $126.34 | +30.5% | May 22, 2026 |
| Barclays | Analyst unavailable | $147 | $126.29 | +27.9% | May 22, 2026 |
| Deutsche Bank | Analyst unavailable | $133 | $123.42 | +15.7% | May 14, 2026 |
| Truist Financial | Analyst unavailable | $141 | $124.77 | +22.6% | May 5, 2026 |
| Evercore ISI | Analyst unavailable | $144 | $127.56 | +25.3% | Apr 29, 2026 |
| RBC Capital | Brad Heffern | $151 | $128.3 | +31.3% | Apr 29, 2026 |
| Deutsche Bank | Peter Abramowitz | $138 | $128.63 | +20.0% | Apr 15, 2026 |
| Evercore ISI | Analyst unavailable | $143 | $135.44 | +24.4% | Mar 9, 2026 |
| Deutsche Bank | Analyst unavailable | $145 | $130.22 | +26.1% | Jan 20, 2026 |
| Barclays | Analyst unavailable | $144 | $123.82 | +25.3% | Jan 13, 2026 |
| UBS | Analyst unavailable | $127 | $122.76 | +10.5% | Jan 8, 2026 |
| Barclays | Analyst unavailable | $143 | $128.63 | +24.4% | Nov 25, 2025 |
| Robert W. Baird | Analyst unavailable | $136 | $125.52 | +18.3% | Nov 19, 2025 |
| Jefferies | Peter Abramowitz | $142 | $126.6 | +23.5% | Nov 3, 2025 |
| Evercore ISI | Steve Sakwa | $141 | $122.87 | +22.6% | Oct 31, 2025 |
| Morgan Stanley | Adam Kramer | $139 | $128.91 | +20.9% | Sep 4, 2025 |
| Morgan Stanley | Adam Kramer | $142 | $125.41 | +23.5% | Sep 4, 2025 |
| Morgan Stanley | Adam Kramer | $135 | $124.53 | +17.4% | Jul 15, 2025 |
| Deutsche Bank | Analyst unavailable | $135 | $127 | +17.4% | Jun 25, 2025 |
| Colliers Securities | Barry Oxford | $130 | $123.61 | +13.1% | Jun 13, 2025 |
| Truist Financial | Anthony Hau | $137 | $123.01 | +19.2% | Jun 3, 2025 |
| Jefferies | David Windley | $263 | $120.99 | +128.8% | May 29, 2025 |
| RBC Capital | Brad Heffern | $147 | $124.67 | +27.9% | May 7, 2025 |
| UBS | Michael Goldsmith | $134 | $125.89 | +16.6% | Nov 14, 2024 |
| Robert W. Baird | Wesley Golladay | $145 | $135.24 | +26.1% | Sep 3, 2024 |
| RBC Capital | Analyst unavailable | $217 | $183.53 | +88.7% | Apr 27, 2022 |
| JMP Securities | Analyst unavailable | $220 | $190.05 | +91.4% | Apr 20, 2022 |
Track every rating change on SUI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSun Communities, Inc. became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of June 30, 2026, the Company owned, operated, or had an interest in a portfolio of 455 developed MH and RV properties comprising approximately 156,130 developed sites in the U.S. and Canada. At that date, the Company also owned, operated, or held an interest in a portfolio of 54 U.K. properties comprising approximately 22,030 developed sites, which were classified within discontinued operations as of June 30, 2026. Sun Communities, Inc. was incorporated in 1975 in Maryland and is based in Southfield, Michigan.
Historical context
All SUI earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ARE Alexandria Real Estate Equities, Inc. | FY2026 Q3 · Calendar Q4 2026 | -13401.8% | -5.9% | ARE leasing strengthened, but 2027 expirations remain a risk |
| CSGP CoStar Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.8% | -5.0% | CoStar posts record Q3 and raises EBITDA outlook |
| AMT American Tower Corporation | FY2026 Q3 · Calendar Q4 2026 | — | -2.4% | AMT Raises Outlook as CoreSite Growth Offsets Tower-Sector Headwinds |
| PSA-PL Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | — | Public Storage raises guidance as retention and pricing improve |
| PSA-PN Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | — | Public Storage raises guidance as operating trends improve |
| PSA-PO Public Storage | FY2026 Q3 · Calendar Q4 2026 | -32.1% | — | Public Storage raises guidance again as demand strengthens |
Latest beats and misses
Who reports nextBeat on EPS
- CMSFY2026 Q3 · October 27, 2026+6.7% EPS-0.8% move
- PNRFY2026 Q3 · October 27, 2026+9.3% EPS+12.8% move
- CNPFY2026 Q3 · October 27, 2026+6.3% EPS+1.9% move
- ECLFY2026 Q3 · October 27, 20260.0% EPS+0.8% move
- FFIVFY2026 Q4 · October 27, 2026+3.8% EPS-0.5% move
- HOODFY2026 Q3 · October 27, 2026+7.5% EPS+1.9% move
Missed on EPS
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
- AREFY2026 Q3 · October 26, 2026-13401.8% EPS-5.9% move
Get the SUI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-28T19:04:36.965106+00:00
- FN2 earnings calendar · 2026-09-01T01:23:15.986970+00:00
- Polygon adjusted daily market bars · 2026-10-28T09:10:43.100976+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T09:10:43.098252+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.