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# Sun Communities Earns $137.1 Million From Continuing Operations After UK Sale, Raises Rent Outlook
- URL: https://www.bullished.co/sun-communities-earns-137-1-million-from-continuing-operations-after-uk-sale-raises-rent-ce6a2fb5/
- Published: 2026-10-26T20:28:41.000Z
- Updated: 2026-10-26T20:28:41.000Z
- Description: The landlord sold Park Holidays for about $1.03 billion net, is spending the proceeds mainly on buybacks, and guided 2027 rent gains above 2026's.
- Author: Matteo Parrino
- Tags: SEC Filings, SUI, Industry: Real Estate

[Sun Communities](https://www.bullished.co/tag/sui/), which owns manufactured housing communities and RV resorts, said its continuing operations earned [$137.1 million](https://www.sec.gov/Archives/edgar/data/0000912593/000091259326000272/exhibit991pressreleaseands.htm?ref=bullished.co) in the third quarter, against a $53.1 million loss a year earlier. The company reported the results Monday, a little over a month after it closed the sale of its UK business and began putting the proceeds mainly into share buybacks.

## Continuing profit, narrower total gain

Continuing operations [earned $1.07](https://www.globenewswire.com/news-release/2026/10/26/3388554/0/en/sun-communities-reports-results-for-the-third-quarter-of-2026.html?ref=bullished.co) per diluted share. Net income attributable to common shareholders, which includes the sold UK business, was $120.7 million, or $1.00 a share, up from $8.5 million, or $0.07, a year earlier.

Core FFO, a REIT cash-earnings gauge, was [$2.35 per share](https://www.globenewswire.com/news-release/2026/10/26/3388554/0/en/sun-communities-reports-results-for-the-third-quarter-of-2026.html?ref=bullished.co) against $2.28 a year earlier. Same-property net operating income rose 3.6% for the quarter and 5.2% for the nine months.

For the nine months, the company posted an $880.7 million loss attributable to common shareholders. The company had recorded a $1.1 billion non-cash write-down on the UK assets in the second quarter, and added a further $50.6 million loss on the sale in the third.

## Selling the UK, buying back stock

Sun closed the sale of its UK holiday-park business, Park Holidays, on September 22 for about £772.3 million, or roughly $1.05 billion. Net proceeds were about $1.03 billion after closing costs.

In the quarter the company repurchased about 2.4 million shares for $293.3 million, an average of $119.24\. Through October 23 it bought about 0.7 million more for $79.8 million at an average of $113.24\. It also repaid three mortgage loans totaling $266.6 million, and had $3.8 billion of debt outstanding at quarter end.

"Sun is a simpler, more focused company with a clearer path to long-term value creation," CEO Charles Young said.

Sun owns and operates manufactured housing communities and RV resorts, leasing sites to residents who place their own homes or RVs on them.

## Guidance and 2027 rents

Sun raised the low end of its 2026 North America same-property income growth forecast to 4.9%-5.3%, from 4.5%-5.3%. It guided to full-year Core FFO of $6.97 to $7.05 per share, or $7.01 at the midpoint.

Preliminary 2027 rent increases are 5.4% for manufactured housing and 4.4% for annual RV sites, which Young said are above 2026 levels.

Same-property adjusted blended occupancy for manufactured housing and RV was 98.8% at September 30, down from 99.3% a year earlier.

Management hosts its earnings call Tuesday at 11:00 a.m. ET.

### Sources

- [8-K Filing — SUN COMMUNITIES INC (SUI)](https://www.sec.gov/Archives/edgar/data/0000912593/000091259326000272/sui-20261026.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit exhibit991pressreleaseands.htm — SUN COMMUNITIES INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000912593/000091259326000272/exhibit991pressreleaseands.htm?ref=bullished.co) — SEC EDGAR
- [Sun Communities Reports Results for the Third Quarter of](https://www.globenewswire.com/news-release/2026/10/26/3388554/0/en/sun-communities-reports-results-for-the-third-quarter-of-2026.html?ref=bullished.co) — globenewswire.com

### More on Sun Communities

- [Sun Communities Pays For Eugene, Oregon Property With $28.3 Million In Newly Created Preferred Units](https://www.bullished.co/sun-communities-pays-for-eugene-oregon-property-with-28-3-million-in-newly-created-673f240d/)

[All Sun Communities (SUI) coverage →](https://www.bullished.co/tag/sui/)