Sun Communities Inc. (SUI, Financial) filed Quarterly Report for the period ended 2012-09-30.
Sun Communities, Inc. has a market cap of $1.32 billion; its shares were traded at around $42.11 with a P/E ratio of 13.7 and P/S ratio of 4.6. The dividend yield of Sun Communities, Inc. stocks is 5.7%. Sun Communities, Inc. had an annual average earning growth of 1.3% over the past 10 years. GuruFocus rated Sun Communities, Inc. the business predictability rank of 2.5-star.
Rental Program NOI increased $1.9 million from $9.5 million to $11.4 million, or 20.5 percent, due to increased revenues of $2.8 million, offset by increased expenses of $0.9 million. Revenues increased $2.8 million due to the increased number of residents participating in the Rental Program and from increased monthly rental rates as indicated in the table above.
The renter s monthly payment includes the site rent and an amount attributable to the leasing of the home. The site rent is reflected in the Real Property Operations segment. For purposes of management analysis, the site rent is included in the Rental Program revenue to evaluate the incremental revenue gains associated with implementation of the Rental Program, and assess the overall growth and performance of Rental Program and financial impact to our operations.
Rental Program NOI increased $6.7 million from $28.1 million to $34.8 million, or 23.7 percent, due to increased revenues of $8.1 million, offset by increased expenses of $1.4 million. Revenues increased $8.1 million primarily due to the increased number of residents participating in the Rental Program and from increased monthly rental rates as indicated in the table above.
During the nine months ended September 30, 2012, we have invested $39.4 million in the acquisition of homes intended for the Rental Program net of proceeds from third party financing from homes sales. Expenditures for 2012 will be dependent upon the condition of the markets for repossessions and new home sales, as well as rental homes. We finance new home purchases with a $12.0 million floor plan facility. Our ability to purchase homes for sale or rent may be limited by cash received from third party financing of our home sales, available floor plan financing and working capital available on our secured lines of credit.
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Sun Communities, Inc. has a market cap of $1.32 billion; its shares were traded at around $42.11 with a P/E ratio of 13.7 and P/S ratio of 4.6. The dividend yield of Sun Communities, Inc. stocks is 5.7%. Sun Communities, Inc. had an annual average earning growth of 1.3% over the past 10 years. GuruFocus rated Sun Communities, Inc. the business predictability rank of 2.5-star.
Highlight of Business Operations:
The renter s monthly payment includes the site rent and an amount attributable to the leasing of the home. The site rent is reflected in the Real Property Operations segment. For purposes of management analysis, the site rent is included in the Rental Program revenue to evaluate the incremental revenue gains associated with implementation of the Rental Program, and assess the overall growth and performance of Rental Program and financial impact to our operations.Rental Program NOI increased $1.9 million from $9.5 million to $11.4 million, or 20.5 percent, due to increased revenues of $2.8 million, offset by increased expenses of $0.9 million. Revenues increased $2.8 million due to the increased number of residents participating in the Rental Program and from increased monthly rental rates as indicated in the table above.
The renter s monthly payment includes the site rent and an amount attributable to the leasing of the home. The site rent is reflected in the Real Property Operations segment. For purposes of management analysis, the site rent is included in the Rental Program revenue to evaluate the incremental revenue gains associated with implementation of the Rental Program, and assess the overall growth and performance of Rental Program and financial impact to our operations.
Rental Program NOI increased $6.7 million from $28.1 million to $34.8 million, or 23.7 percent, due to increased revenues of $8.1 million, offset by increased expenses of $1.4 million. Revenues increased $8.1 million primarily due to the increased number of residents participating in the Rental Program and from increased monthly rental rates as indicated in the table above.
During the nine months ended September 30, 2012, we have invested $39.4 million in the acquisition of homes intended for the Rental Program net of proceeds from third party financing from homes sales. Expenditures for 2012 will be dependent upon the condition of the markets for repossessions and new home sales, as well as rental homes. We finance new home purchases with a $12.0 million floor plan facility. Our ability to purchase homes for sale or rent may be limited by cash received from third party financing of our home sales, available floor plan financing and working capital available on our secured lines of credit.
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