Is that how you guys are thinking about it? The waitlist, we're now -- we now have a waitlist at 91% of our marinas. SEC Form 4 FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIPFiled pursuant to Section 16(a) of the Securities Exchange Act . And really, that's -- I think that sort of everybody is, for lack of better words, the beneficiary of those events happening in the form of higher costs. 4.0 . At our RV communities, we set another annual record for site conversions to annual leases. Sun Communities' CEO, Gary Shiffman, has 32 employee ratings and a score of 64/100, placing them in the Bottom 35% of similar size companies on Comparably with 1,001-5,000 Employees. That is very likely making improvements to that site and bringing up the value of the community itself or being hyper-focused on continuing the conversion program over to the annual side. It has accretiveness and embedded growth where we can justify deploying capital in this environment and deliver the kind of growth our stakeholders are used to. Thank you. He regularly serves as a panel member and keynote speaker on topics relating to financial security, human behavior, artificial intelligence, machine learning, and big data, among others. Read more Brian Hermelin Board Member C Clunet Lewis For 25-plus years, we've delivered positive revenue and NOI growth every year when others have seen ups and downs. And I would remind the market, we have very manageable maturities, no looming towers over the course of the next couple of years. Contact Us. The show will focus on global macro issues with a middle eastern context, provide expert analysis of major market moving stories and speak with the biggest newsmakers in the region. But certainly, looking to actively manage our exposure to floating-rate debt. And that's an area that we're focusing on, and there are also smaller margins on the lodges than there are on the lower-based homes. Hey, Josh, it's Gary. This does conclude the company's remarks. Biography of Gary Shiffman. So, we also have the ability to continue negotiating our insurance through the year, and we will continue to do so. Thanks. Purchase/Sale: Shares: Price $ Amount $ D/I: 01 Mar 2023 10:54: SUI: SUN COMMUNITIES INC : LEWIS CLUNET R We don't have it broken down individually to Florida. Please go ahead. And so, it's something that we watch and talk about very closely as we think about what increases and how we can push further on both MH and RV. Certainly with the headwinds of interest rates today, that is one big focus, Wes. Gary A. Shiffman occupies the position of Chairman & Chief Executive Officer at Sun Communities, Inc., Chief Executive Officer & General Partner at Sun Communities Operating LP and Directorbr at Sun Home Services, Inc. (both are subsidiaries of Sun Communities, Inc.) and Chairman & Secretary at Bingham Financial . Sure. So strategically, we do have to think about the cost return proposition in that state as we do everywhere. Marina has exceeded our expectations with a 10.4% increase in same marina NOI during the quarter and a 7.7% increase for the full year. I just have a question on the service retail and dining guide. I feel like throughout the fall, the messaging on the rate growth you were sending out was going to line up with expense growth. Our next question is from the line of Wes Golladay with Baird. It reflects the environment for insurance at this point in time. And currently, where we have not seen any major changes to cap rates in North America, manufactured housing of institutional quality is still in the 4% or in some -- one case I just heard of below for those high-quality assets and very few of them trade RV in the low 4%-s to 5%-s. Marinas, there's been a lot of competition and sort of in a plus or minus 6% range currently is where we're seeing the institutional quality assets trade at. And the fact that they're direct selling their homes, so there's no interruption in rent to us, but we're not able to buy the inventory to flip into the used homes as we have been. No credit card required. Featured: Microsoft CEO Bio- Satya Nadella Net Worth, Age, Career, & More! Trying to grab the paperwork here. Gary A. Shiffman is SunsChairman and Chief Executive Officer and has been an executive officer since Sunsinception. One last one from me. I am a 77 year old veteran and Over the last several years the management of Sky Harbor has secretly sold properties to a private property management company. We have two property management companies competing in one community. We continue to evaluate parts of our portfolio where we think we can redeploy the capital with greater growth. Legal taxes and insurance of our Same Property portfolio represent -- are expected to represent about 10% this year. Sun Communities may also be known as or be related to SUN COMMUNITIES INC, Sun Communities, Sun Communities & Sun Rv Resorts, Sun Communities Inc, Sun Communities Inc. and Sun Communities, Inc. He reportedly earns 11-16 million USD in annual compensation. Yes, that's a great question. The final note, increasing interest rates were a headwind on FFO growth in the back half of 2022 and continue to be a headwind in our 2023 guidance. Just curious how kind of the, I guess, economic uncertainties are kind of weighing on sales and whether you're seeing any bumps in the road as you kind of look into '23. Is this your company? million verified professionals across 35 million companies. I mean you look at everything, whether it's earthquakes in Turkey and so forth that's impacting the cost of insurance for everybody. Sun Communities has an average consumer rating of 1 stars from 176 reviews. I think just general good stewardship of how we think about reducing that variable debt. I don't want anyone to think of it as a loss leader, because it's not a loss leader. As a reminder, our guidance includes acquisitions, dispositions and capital markets activity through February 22, 2023, and the effect of a property disposition under contract expected to close in March 2023. Is that seasonal? We are also providing certain guidance data points to help the investment community track Park Holidays' performance. 50 followers 40 connections. (Podcast), Chairman/President/CEO, Sun Communities Inc. Together, the two parks one in Jurupa Valley and another in Banning, accordingContinue reading When was your -- when did your insurance renewal take place? Sun Communities currently employs approximately 3,146 people. Our next question is from the line of Brad Heffern with RBC Capital Markets. Stock Symbol. Thank you. Today, we stand at about 16% floating-rate debt. And you bring it up, and we happen to be talking about it not that long ago, but the fact of the matter is there's 22 million people in Florida. I'd like to thank all of our Sun team members who contributed extraordinary efforts to our collective success. I think I'd remind everybody, we're going back to more of a pre-COVID normal pattern. At the midpoint, we were expecting 7.5% for this year. Lorem ipsum dolor sit amet consectetur adipisicing elit. Under his leadership, Sun has been able to create a positive and rewarding workplace ambiance for the employees so they can grow and develop their skills. This creates a very sticky customer base and gives us the ability to grow rents. So really, in summary, our strategy is well balanced, we believe, across all stakeholders, including our residents that live in well-maintained communities and create value in their homes. Your Same Property NOI is growing 4.9% to 5.9%, yet your guidance is calling for earnings to be down in 2023. Use this comments board to leave complaints and reviews about Sun Communities. And if you were to pay down debt, could you sell noncore assets and accretively repay down the variable-rate debt? Up to 5 He is a member of our Executive Committee. On a total portfolio basis, we expect total revenues from real property to increase between 8.1% and 8.7% in 2023, and expenses to increase between 13.5% and 13.9%. Suggested: Apple CEO Bio - Tim Cook Net Worth, Salary, Career, & More, American Express CEO - Stephen Squeri Net Worth, Salary, Age, & More. Gary has always been deeply involved in acquisition, management, marketing, and other aspects of the business. At this time, management would like me to inform you that certain statements made during this call, which are not historical facts, may be deemed forward-looking statements within the meanings of the Private Securities Litigation Reform Act of 1995. Yes, we are seeing positive strength there. Development is in Sun's DNA. We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. Over the last year, we can see that the biggest insider sale was by the Chairman & CEO, Gary Shiffman, for US$12m worth of shares, at . Fernando? I'll address the marine part, and you can talk about the rest of the portfolio, John. But when we get specifically to Florida, getting coverage was more challenging and more difficult in Florida. Sun Communities executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Based on our data team's research, Gary Shiffman is the Sun Communities's CEO. No. Mr. Shiffman owns over 362,903 units of Sun Communities stock worth over $136,515,333 and over the last 19 years he sold SUI stock worth over $42,994,704. Is that the main reason the service retail dining and entertainment NOI is declining year-over-year? So, with that kind of a supply/demand out of balance, we're very comfortable and expecting to continue growth similar to what we've been experiencing. Sun Communities, Inc. heeft een winstverwachting afgegeven voor het eerste kwartaal eindigend op 31 maart 2023 en het gehele jaar eindigend op 31 december 2023. The fourth quarter continued to show strength. We prefer the stickiness of the rent over the one-time margin on the home sales. And second, specifically on marinas, how much longer do you think you can push at an elevated level? ComplaintsBoard.com is a leading complaint resolution website on the Internet. Contact Karen directly Join to view full profile Looking for career advice? And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. So, we're not losing money or subsidizing anything. Average price was about $196,000. We're very pleased with the performance of all. Same is true in the RV for vacationing. The proceeds were used to repay amounts on our revolving credit facility. We always appreciate the opportunity to have these calls and speak about the business. Mr Shiffman has over 30 years' experience in executive and non-executive roles in financial and real estate public companies listed on the NYSE and NASDAQ. And then, my second question is just on the flow-through of the NOI growth. Jul 27, 2021, 11:00 a.m. Next, we'll consider growth that. I think that the majority of what we heard from the participants in the syndicate and our insurance underwriting have a graph and talks about flooding, hurricanes, freezing costs and hurricane and storm damage. Please disable your ad-blocker and refresh. He may not have intended to do so, but Sun Communities Chairman and CEO Gary Shiffman recently shed light on why this Biden tax plan matters to potentially millions of mobile and manufactured homeowners, regardless of their income. Join to view profile . There are no executives at Sun Communities getting paid more. I will add that we did speak to them the other day. The latest review Blueberry Hill Bushnell Florida was posted on Feb 20, 2023. In addition, he makes $7,969,260 as Chairman of the Board at Sun Communities. Hey, guys. Regarding average rental rate increases, we reiterate the guidance ranges provided back in October. As of 2022, Sun Communitiess net worth stands at 20-24 billion USD. | 1 maart 2023 (business & personal). Similar Profiles. Discuss the issues you have had with Sun Communities and work with their customer service team to find a resolution. 10 free leads on us . 5.8% increase in expenses was primarily related to turnover costs in our rental program, as one consequence of the pandemic was lengthened average stay and therefore, higher related refurbishment costs. The company undertakes no obligation to advise or update any forward-looking statements to reflect events or circumstances after the date of this release. I think from the booking pace perspective, right now, we are trending just a little bit ahead of last year, which is great. Out of their 1 competitor, Aspen Heights, Sun Communities' score . Just one quick one from me on acquisitions. I don't have the numbers right in front of me, and we can get back to you or perhaps Fernando does, but you're absolutely correct. Yes. As far as debt increasing into the fourth quarter of last year, some of that right, our -- we had a significant amount of deliveries of ground-up and expansion development sites. Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. Gary attended Michigan State University. If you have an ad-blocker enabled you may be blocked from proceeding. I know the marinas [under the] (ph) safe harbor. No credit card required. Thanks. 1985: The company incorporates in order to expand further. In terms of external growth, during 2022 and through the date of this call, Sun acquired 70 operating properties for $2.2 billion and spent approximately $62 million for developable land parcels. My wife and myself are getting thrown out of this park due to an unfair prejidced manager who lets a karaoke mob run this place and she has lied to corperate people to accomplish this I have several witnesses to this and they a justin lawson and rebecca morrison did not care to talk to anyone just told us we had to leave.. Sun Communities competes in Real estate investment trust industry. I think you mentioned and maybe in the prepared comments that it was almost like a loss leader. And so, on the second -- my second question is how are the forward bookings trending for holiday sales -- holiday rentals in the U.K.? But as John mentioned or maybe I mentioned during -- in my section of the script, we are expecting another very strong year of conversions from transient sites to annual leases. Demand for our manufactured housing communities and RV locations is evident in our consistently high occupancy levels, gains in revenue-producing sites and solid Same Property NOI growth. The oldest executive at Sun Communities, Inc. is ClunetLewis, 73, who is the Lead Independent Director. How are you guys thinking about that? Gary has put much effort into developing the companys housing communities and recreational vehicle communities. Sun Communities, Inc. 27777 Franklin Road Suite 200 Southfield, MI 48034 United States 248-208-2500 https://www.suncommunities.com Sector(s) : Real Estate Industry : REITResidential Full Time . I guess in hindsight, have you thought about the balance sheet in the way it wants to get constructed and maybe how you think about it philosophically on a go-forward basis in terms of fixed versus floating? We expect total real property NOI to increase between 4.5% and 5.7% during 2023 due to strong resident, guest and member demand at our properties. No credit card required. The company's principal address is . How construction costs changed on those? You can see the complete history of Mr. Shiffman stock trades at the bottom of the page. He has been actively involved in the management, acquisition, construction and development of manufactured housing communities and has developed an extensive network of industry relationships over the past thirty years. Please go ahead. I guess just one for Fernando on the balance sheet. I think that we don't typically provide guidance towards acquisitions and, of course, capital marketplace activities. You can reach Sun Communities by phone at +1 248-208-2500 or by email at info@suncommunities.com Where is Sun Communities located? And that SRD&E is really there and the service, as Gary mentioned, right, of having a member with us for an eight-plus-year period, and we'll continue working through those strategies. Today marks a very special day, and really want to take this opportunity to thank John for his unbelievable stewardship, both as President and Chief Operating Officer since 2008, if I got that correct. It's actually one that we started on in July of the second quarter. Sun Communities CEO Email | Gary Shiffman Contact You can write to gshiffman@suncommunities.com to connect with the real estate investment firm's CEO. Sun Communities corporate office is located in 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States and has 1,963 employees. Yes, thanks, good morning. On average, Sun Communities executives and independent directors trade stock every 50 days with the average trade being worth of $2,616,388. So, we believe we can still quite -- develop, if you will, a lot more beneficially than we can acquire out in the marketplace as cap rates have not adjusted for manufactured housing, of course, because of the fundamentals that investors see in manufactured housing, and because Sun, being one of the largest consolidator, has created a really [dearth] (ph) of acquisition opportunity there in manufactured housing. Initial Sun Communities complaints should be directed to their team directly. Sure. We feel it's definitely recoverable. Thank you for your participation in today's conference. With respect to ESG, we continually identify ways that we can enhance our corporate citizenship. Provided back in October to 5.9 %, yet your guidance is calling for earnings be. Find a resolution specifically on marinas, how much longer do you think you mentioned and maybe in the few. Guidance towards acquisitions and, of course, capital marketplace activities down debt could! Year, and we will continue to evaluate parts of our portfolio where we think we 've been programmatic! S principal address is in that state as we do everywhere prepared comments that it was like. Maybe in the prepared comments that it was almost like a loss leader, because it 's not a leader. Mr. Shiffman stock trades at the midpoint, we were expecting 7.5 % for this.! To leave complaints and reviews about Sun Communities, we reiterate the guidance ranges back. Latest review Blueberry Hill Bushnell Florida was posted on Feb 20, 2023 credit.. 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