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SUI-News
SUI-Events
Sun Communities Appoints Robert Garechana as CFO
Sun Communities (SUI) announced that Robert Garechana will join the company as CFO, effective September 8, succeeding Fernando Castro-Caratini, who will transition to an advisory role with the company. Garechana brings over two decades of REIT finance experience to Sun, joining from multifamily REIT Equity Residential (EQR), where he served as executive VP and chief investment officer since 2025.
Banco Santander Acquires Webster Financial
Banco Santander (SAN) is acquiring Webster Financial (WBS) in a deal expected to be completed soon pending final conditions.
Company Reports Q2 Revenue of $484.6M
Reports Q2 revenue $484.6M vs. $495.9M last year. "We delivered another strong quarter, exceeding the high end of our guidance while demonstrating the strength of our Manufactured Housing and RV portfolio," said Charles Young, Chief Executive Officer. "Supported by durable demand for attainable housing and outdoor vacationing, together with disciplined expense management, we continue to execute on our strategic priorities. The planned sale of our UK platform further simplifies our business and sharpens our focus on our core portfolio. As we maintain our disciplined approach to capital allocation, we are investing in our people, technology, and communities to optimize our platform, and our full-year guidance reflects our confidence in the business and the opportunities ahead."
Company Expects Park Holidays Sale to Close in H2 2026
The company said, "While the Park Holidays Sale is expected to close in the second half of 2026, it is subject to receipt of regulatory approval. Monthly contribution for the UK business is presented in the UK Contribution table below. For the reasons described above, as well as other factors described elsewhere in this earnings release and in the Company's public reports, the actual results from the Company's business and operations in such period may differ materially from the Company's guidance for that period."
Company's Guidance Excludes Impact of Park Holidays Sale
Consensus $6.90. The company said, "The Company's guidance presented in this earnings release does not give effect to the completion of the Park Holidays Sale, or potential use of transaction proceeds, nor does it reflect any impacts therefrom, including any effect of the Park Holidays Sale on Diluted EPS or Core FFO per Share."
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