Track market-moving stories before they get noisy

WAYZATA, Minn.--(BUSINESS WIRE)--SUI Group Holdings Limited (NASDAQ: SUIG) (“SUI Group,” “SUIG” or the “Company”), today announced that it will host a conference call on Thursday, November 5, 2026, at 5:00 p.m. Eastern Time to discuss its financial and operating results for the third quarter ended September 30, 2026. The Company plans to release its financial results in a press release prior to the call. SUI Group's executive team will host the conference call, followed by a question-and-answer.

While most major cryptocurrencies bled out this week, two coins defied the selloff for very different reasons, and understanding those reasons reveals what the broader market might be signaling about risk appetite and where crypto demand is quietly shifting.

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In the week ending October 17, 2026, only two cryptocurrencies from our analysis of 26 major coins managed to gain value: Monero (CRYPTO:XMR) and TRON (CRYPTO:TRX). Monero increased by 7.6%, reaching $569, as part of a 10.4% rise over 30 days. In contrast, TRON had a modest gain of 0.8%, bringing its price to about 33 cents.

Most of the crypto market posted losses. Bitcoin (CRYPTO:BTC) decreased by 2%, Ethereum (CRYPTO:ETH) fell 4.5%, and XRP (CRYPTO:XRP) dropped 8%. Additionally, Solana (CRYPTO:SOL) slid 6.5%, while Cardano (CRYPTO:ADA) and Sui (CRYPTO:SUI) each lost around 13%.

By October 19, Monero extended its weekly gain to 11.1%, rising to about $595, while TRON fell slightly by 0.2%. So, what kept these two coins resilient while most of the market struggled?

Bond Yields and Nervous Stock Traders Weighed on Crypto

The bond market likely drove the pressure. The 10-year Treasury yield, which reflects how much the US government pays to borrow money over ten years, rose to 5.31% on October 5, up from 4.94% on September 17. When safe government bonds offer such high returns, it becomes costlier to hold interest-bearing assets like Bitcoin.

However, we can’t blame yields alone for the drop. The 10-year yield fell to 5.10% by October 15, suggesting borrowing costs were easing even as Bitcoin kept falling.

Stock traders also grew more anxious. The CBOE Volatility Index (VIX), which measures expected market turbulence, increased by 6.8% to 16.46 on October 15. While the VIX stayed within its typical range of 15 to 20, traders remained nervous without panicking.

Concerns surrounding cryptocurrency also contributed to the situation. On October 15, BlackRock CEO of BlackRock (NYSE:BLK | BLK Price Prediction) reportedly issued a serious warning about a potential Bitcoin crash. Such headlines can first drive down speculative coins. Forced selling may also have played a role, as exchanges automatically close the positions of traders who borrow funds when their losses become too high.

Bitcoin Continues to Decline From Its September High

As of October 19, Bitcoin is trading around $82,820, down from its September 21 high of $87,397 but above the September 18 low of $76,205. Sellers have dominated Bitcoin trading since its September peak.

The highest trading volume in the past month occurred on the day it hit that high, when about 14,078 BTC, worth roughly $1.2 billion, were traded. However, trading volumes in October have been lower. This decreasing volume during a decline suggests that holders are gradually moving out, indicating waning interest rather than outright panic.

Demand for Privacy Boosted Monero, but Its Thin Market Adds Risk

Monero is a privacy-focused cryptocurrency that automatically hides the sender, receiver, and transaction amount. Unlike Bitcoin and Ethereum, Monero doesn’t have a US spot exchange-traded fund, so its users are primarily individuals who prefer privacy in transactions. This isolation from large fund flows helps Monero maintain demand for privacy even when interest in speculative coins declines.

At around $595, Monero is still roughly 25% below its January 2026 record high, suggesting growth potential, yet it remains far from a breakout. Monero’s design also limits transparency, making it hard to tell whether new buyers are driving its recent price rise.

Moreover, Monero’s smaller market size carries risks; a sudden influx of sellers could quickly wipe out the recent gains. Additionally, a short squeeze—where traders who borrowed coins to sell them are forced to buy back as the price rises—may have contributed to Monero’s upward movement.

TRON Held Steady Thanks to Stablecoin Traffic Amid Broader Declines

TRON is primarily a blockchain for transferring stablecoins, which are digital tokens pegged to the US dollar. According to DeFiLlama, TRON has $94.45 billion in US dollar stablecoins, largely driven by Tether’s dollar token, which traders and businesses in emerging markets use for lower-cost transfers.

To process any transfer on TRON, users either stake TRX (locking up their coins to help run the network) or pay fees in TRX. This steady payment traffic creates demand for TRX and supports its price despite the overall market downturn, which helps explain why TRX remained stable while Ethereum and Solana fell.

In contrast, Cardano and Sui fell more sharply because of their higher volatility. When market fear rises, traders often sell these coins first, opting to hold Bitcoin instead.

Are Monero and TRON Good Investments After a Week of Declines?
In our view, Monero offers a more appealing investment opportunity because of its upside potential, while TRON appears to be a more defensive choice with no clear signs of growth. However, Monero’s recent gains rely on privacy demand, which outside observers cannot fully gauge, and TRON’s stability hinges on continued demand for Tether in the markets where it operates.

The next week will be crucial for both coins. If Monero’s performance falters, it could signal weakening interest, making it vital to monitor their future movements closely.

Contact [email protected] for any questions or corrections.

CME is adding Bitcoin Cash and Uniswap futures to its regulated exchange, but history shows these listings can push prices in opposite directions depending on who shows up to trade first.

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CME Group (NASDAQ: CME | CME Price Prediction), the Chicago-based derivatives exchange, is preparing to list futures contracts for Bitcoin Cash (CRYPTO: BCH) and Uniswap (CRYPTO: UNI) on October 19, 2026, pending regulatory approval. Bitcoin Cash, a payment-focused spin-off of Bitcoin (CRYPTO: BTC), is a separate network, while UNI serves as the governance token for Uniswap, a decentralized exchange that lets users trade tokens directly without intermediaries.

As both cryptocurrencies approach their futures listing, they face challenges. Uniswap is priced around $7 after a 10.4% decline over the week, while Bitcoin Cash is trading at about $264, down 10.7% in the same timeframe.

Typically, traders view the announcement of new futures as a potential buy signal. But do futures contracts tend to push a coin’s price up, down, or remain neutral?

What CME Is Listing and How Big Its Crypto Futures Market Is

Futures contracts are agreements to buy or sell an asset at a predetermined price on a future date. On the CME, these contracts trade on a regulated exchange with a clearing house that ensures both parties fulfill their agreements, minimizing the risk of default.

For Bitcoin Cash, each standard futures contract covers 250 BCH, while a micro contract covers 25 BCH. Similarly, the standard Uniswap contract represents 10,000 UNI, with a smaller micro version covering 1,000 UNI. This structure allows larger institutions to trade significant amounts while smaller traders can participate without committing to a full contract.

The new listings join an existing suite of cryptocurrency futures that includes Bitcoin, Ether (CRYPTO: ETH), XRP (CRYPTO: XRP), Solana (CRYPTO: SOL), Cardano (CRYPTO: ADA), Chainlink (CRYPTO: LINK), Stellar (CRYPTO: XLM), Avalanche (CRYPTO: AVAX), and Sui (CRYPTO: SUI). According to CME, expanding into Cardano, Chainlink, Stellar, Avalanche, and Sui futures has added over $1 billion in total contract value this year.

In the first half of 2026, CME’s crypto futures and options averaged 279,800 contracts traded daily, worth about $8.3 billion in total value. The average open interest—the total number of contracts still active—was 264,600 contracts, valued at $15.4 billion.

However, historical data shows that launch days are often modest. For example, when Ether futures debuted on CME in February 2021, the first-day volume was only 388 contracts, representing roughly 19,400 ETH worth about $33 million, at an average of $1,700 per Ether. Compared with today’s daily trading volume, the initial figures for new contracts are quite small.

How CME Futures Can Push Prices in Both Directions

Hedging is the practice of taking an opposite position to mitigate risk, such as a Bitcoin Cash holder going short on CME to protect against price drops rather than selling coins, which can take pressure off the spot market where coins are traded immediately.

Conversely, short selling profits from a price decline. With futures, traders can take short positions without first borrowing the asset, giving sellers a new, regulated tool they didn’t previously have.

The disparity between the futures price and the spot price, known as the basis, can impact trading decisions. If the futures price is higher than the spot price, a fund might buy the asset and sell the futures contract, profiting from the difference when both prices converge at expiry. This process simultaneously buys the asset and sells the futures contract, allowing traders to benefit regardless of the price direction.

Moreover, certain institutional investors, such as pension funds, may not be allowed to hold cryptocurrencies directly but can participate in trading listed futures. This broader access may bring in more buyers, while short selling could increase selling pressure, creating a complex dynamic around price movement.

CME promotes the futures contracts as tools for risk management. Giovanni Vicioso, CME Group’s global head of cryptocurrency products, said, “As crypto markets continue to mature, participants require broader, regulated tools to navigate evolving digital asset-related price risk.”

What the CME Listing Could Mean for Uniswap and Bitcoin Cash

Both Uniswap and Bitcoin Cash are entering this futures market after experiencing a rough week. Investors hoping for the new listing to reverse the downward trend should remember that while it could attract new buyers, it also welcomes short sellers who might increase selling pressure.

The overall impact will depend on which type of trader dominates the market. If hedgers and newly eligible institutional investors lead, futures may reduce selling pressure. Conversely, if short sellers dominate trading, it could add to downward pressure.

Early trading volume will also play a crucial role; if the contracts see limited activity, as with Ether’s launch, they could have minimal impact compared to regular spot trading of these coins.

Will CME Futures Lift Uniswap and Bitcoin Cash? In summary, while CME futures may add volatility, predicting a definitive price move for Uniswap and Bitcoin Cash remains uncertain, as the listing brings both buying and selling pressure into play.

The first check is whether both contracts go live on October 19 or slip due to regulatory review. After that, CME’s daily open interest reports are the figure to follow. If open interest rises week after week through November while both coins rally, hedgers and new institutions are outweighing short sellers. If open interest grows while both prices fall, the short side is winning.

Contact [email protected] for any questions or corrections.

ChatGPT gave four beaten-down cryptocurrencies wildly different odds of doubling, and the winner may surprise anyone who assumed Ethereum still leads the pack.

Mortgage rates just hit their highest level in nearly three years. First-time homebuyers are feeling it most, and that shift is opening a door for three housing stocks built around affordability.

According to the Mortgage Bankers Association (MBA), applications fell 4.2% in the week ended Oct. 2. The average 30-year conforming rate jumped to 7.49% from 7.30%, and points rose to 0.84 from 0.75. Refinance applications fell the most, down 8%. Purchase demand slipped too, with the seasonally adjusted Purchase Index down 2%.

The most telling number came deeper in the report. FHA purchase applications fell 6%, the steepest drop of any purchase loan type. FHA loans are the entry point for first-time buyers and those who can only make a low down payment.

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Those households feel every tick higher in rates, and the pressure hasn’t eased. MBA data showed the 30-year rate at 7.50% for the week ended Oct. 9. Purchase applications fell another 4%.

When these buyers step back, their need for housing doesn’t go away; it just moves to what's affordable. Here are three companies positioned for that incoming demand.

Sun Communities: Lot Rents That StickSun Communities Today

SUI

Sun Communities

$116.87 +2.63 (+2.30%)

As of 09:59 AM Eastern

This is a fair market value price provided by Massive. Learn more.

$109.77▼

$137.853.83%

$137.36

Sun Communities NYSE: SUI is a real estate investment trust (REIT) with a specific niche. It owns the land beneath manufactured homes. In a Sun Communities development, residents typically own their homes but pay Sun a monthly lot rent. Moving a manufactured home is expensive, so few residents leave. That low turnover makes rent increases stick.

The company's Q2 2026 results reflect that pricing power. Manufactured housing same-property net operating income (NOI) rose 8.8%. Same-property adjusted blended occupancy held at 98.8%. Core funds from operations (FFO) of $1.84 per share beat the top of guidance, and management raised its full-year outlook.

There is a near-term test, though. Sun’s third-quarter guidance calls for same-property NOI growth of 2.0% to 3.5%. That is a step down from the 6% pace of the first half. Q3 results are estimated for the end of October. In the meantime, the $1.12 quarterly dividend yields about 3.9% at current prices.

The company is also cleaning up its balance sheet. After selling Safe Harbor Marinas in 2025, Sun closed the sale of its UK Park Holidays business on Sept. 22 for roughly $1.03 billion in net cash. Sun now positions itself as a pure-play North American operator of manufactured housing and RVs. Proceeds are earmarked mainly for buybacks and debt reduction.

The analysts tracked by MarketBeat have SUI as a Moderate Buy with a consensus price target of $137.36, about 20% above the current price near $114. Barclays trimmed its target to $143 on Oct. 14 but kept an Overweight rating. Shares remain below their 50-day moving average, though the MACD has turned positive.

Invitation Homes: The Landlord for Would-Be BuyersInvitation Home Today

$26.92 +0.38 (+1.45%)

As of 09:59 AM Eastern

This is a fair market value price provided by Massive. Learn more.

$24.25▼

$30.894.46%

24.72

$32.15

Invitation Homes NYSE: INVH owns single-family rental homes across the U.S. Its typical resident looks a lot like the FHA applicant who can't get a conventional mortgage. That means they still want a yard and a garage. They just can’t make a 7.5% mortgage work.

Citing John Burns Research & Consulting data, management said leasing now costs over $1,000 less per month than owning, on average. That gap keeps residents in place. Second-quarter turnover improved to 5.7%, and the average stay topped 40 months.

Pricing is firming, too. Renewal rent growth averaged 3.3% in the second quarter and hit 4.3% in July. Management expects renewals between 3.5% and 4.5% for the rest of the year. The soft spot is new-lease growth, which was just 1.1% in the quarter.

Analysts are more cautious here. MarketBeat shows a Hold consensus with a $32.15 average target, roughly 21% above the current price of around $26. Mizuho upgraded the stock to Outperform in September. Like SUI, shares sit below their 50-day average, but the MACD recently crossed higher.

Champion Homes: The Most Upside and the Most RiskChampion Homes Today

SKY

Champion Homes

$78.50 +2.60 (+3.42%)

As of 09:59 AM Eastern

This is a fair market value price provided by Massive. Learn more.

$63.87▼

$99.1722.96

$104.00

Champion Homes NYSE: SKY, formerly Skyline Champion, builds factory-built housing (i.e., manufactured homes). Manufactured homes cost far less per square foot than site-built homes. That makes them more relevant at times when housing affordability is a concern.

Recent results point to steady demand. In the company's Q1 earnings report for fiscal year 2027 (FY2027), sales rose 1.3% to $710.2 million, and backlog reached $421.8 million. CEO Tim Larson cited encouraging demand trends. Champion also closed its Homes Direct acquisition, expanding its retail footprint.

Here’s one item to watch. Many manufactured-home buyers use chattel loans, which finance the home but not the land. These loans typically carry higher rates than standard mortgages. So the same interest rate spike that pushes buyers toward manufactured housing can also price them out of it.

The market appears to see that risk. Shares fell 5.5% at the close on Oct. 7, the day the MBA report came out. The stock is now well below its 50-day average, and its MACD is still falling. Yet the analysts tracked by MarketBeat give SKY a consensus rating of Moderate Buy and an average target price of $104, implying about 37% upside from recent trading levels.

Should You Invest $1,000 in Sun Communities Right Now?Before you consider Sun Communities, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Communities wasn't on the list.

While Sun Communities currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

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Sui just posted one of crypto's most eye-catching monthly gains, and a new Bitcoin lending system on its network is drawing comparisons to Solana's early rise. But a closer look at the numbers tells a more complicated story.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Crypto enthusiasts are buzzing that Sui (CRYPTO:SUI) might be the next Solana (CRYPTO:SOL) after a remarkable 48.6% gain over the last month. This surge coincided with the emergence of Hashi, a new system on Sui that allows institutions to borrow against Bitcoin (CRYPTO:BTC). A strong price move, combined with an innovative use case, has reignited comparisons to Solana.

However, the recent rally has slowed down. As of October 11, 2026, Sui trades at $1.10, down 7.2% over the past week. Sui is a layer-1 blockchain, meaning it is a foundational network that processes transactions and hosts applications directly, with its coin used to pay transaction fees.

So what would it mean for Sui to become “the next Solana”?

Hashi Aims to Let Institutions Borrow Against Bitcoin Without Selling

While 24/7 Wall St. has not independently verified Hashi’s details, reports indicate it lets institutions raise cash against their Bitcoin without selling. The process involves locking Bitcoin in a multisignature vault on the Bitcoin main chain—a secure wallet that requires multiple approvals before anyone can move any coins. In exchange, the institution receives a corresponding token on Sui, allowing them to take out a loan, similar to how homeowners borrow against their property.

This approach is appealing because selling Bitcoin can trigger tax liabilities and eliminate the possibility of future gains. Loans let Bitcoin holders keep ownership while accessing cash. There seems to be a strong demand for these loans. In an October 2026 episode of The Pomp Podcast, a guest from a crypto finance platform mentioned that their fastest-growing segment involves borrowing against cryptocurrencies.

However, taking a Hashi loan comes with risks. A Bitcoin holder’s security depends solely on Bitcoin’s price, while a borrower using Hashi also depends on Sui’s functionality and the vault system’s integrity. Crypto-backed loans become riskier as collateral value declines. As Hashi has yet to publish usage or loan metrics, it’s uncertain how much traction it has gained.

Bitcoin lending gives Sui a unique selling proposition, and Sui is already part of the CME Emerging Crypto Index, a benchmark tracking a select group of cryptocurrencies. Still, Sui requires proven user engagement to back up that pitch.

Sui Beat Solana This Month but Trades Further Below Its Record High

Here’s how Sui and Solana compare.

Measure Sui Solana Price $1.10 $109 30-day change +48.6% +9.6% 7-day change -7.2% -9.6% Decline from all-time high -79.5% -62.7% Sui has clearly outperformed Solana over the past month, gaining 48.6% compared to Solana’s modest 9.6% increase. Both cryptocurrencies fell in the past week, but Solana’s decline was slightly steeper.

On the downside, Solana has shown better resilience relative to its all-time high, trading 62.7% below its peak, while Sui is down 79.5%. Thus, Sui holders are still facing a significant challenge to recover.

A Single Strong Month Isn’t Enough for Sui to Be the Next Solana

When we talk about “the next Solana,” we mean matching Solana’s price, which is currently 100 times Sui’s. For Sui to reach Solana’s price point, it would need to increase a hundredfold. The data does not suggest that this will occur anytime soon. Instead of focusing solely on price, it’s essential to assess demand.

The key question is whether Sui can capture a meaningful portion of the demand that Solana currently serves, attracting traders, app developers, and institutions seeking a fast, cost-effective network. To achieve this, Sui must maintain consistent developer activity, secure ongoing institutional investment, and have applications that keep users engaged after the initial rally fades.

A single month of growth isn’t enough to establish a trend. Sui’s rise happened during a market phase when traders shifted funds from larger cryptocurrencies to smaller, riskier options. Therefore, much of Sui’s success likely stems from broader market risk appetite rather than independent demand for Sui itself.

Three indicators could strengthen the argument for Sui as a serious contender. First, Hashi should release user adoption figures; without solid usage data, it remains merely a concept. Second, Sui must continue to outperform Solana after the current small-coin trend subsides. Finally, Sui needs to recover a substantial portion of its 79.5% decline from its peak to show buyers are willing to hold long-term.

Is Sui the Next Solana? Currently, the data suggests that Sui is not poised to become the next Solana. With Solana’s price 100 times higher and Sui down further from its all-time high, Sui holders face a significant uphill battle to make this comparison meaningful.

However, Sui’s story could change before the end of December 2026. If Sui can maintain its momentum and outperform Solana on a 30-day basis by then, while Hashi publishes its adoption metrics, it may warrant a reevaluation of its potential. Conversely, if Sui fails to retain its recent gains, it may further distance itself from Solana.

Contact [email protected] for any questions or corrections.

CME just launched a new crypto index that deliberately leaves out Bitcoin and Ethereum, but the ten coins it chose reveal exactly which assets institutions are willing to put their stamp of approval on right now.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

CME Group, in collaboration with CF Benchmarks, introduced the CME Emerging Crypto Index on August 31, 2026, a benchmark designed specifically to exclude Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). This index comprises ten carefully chosen cryptocurrencies: BNB (CRYPTO: BNB), XRP (CRYPTO: XRP), Solana (CRYPTO: SOL), Hyperliquid (CRYPTO: HYPE), Chainlink (CRYPTO: LINK), Stellar (CRYPTO: XLM), Sui (CRYPTO: SUI), Uniswap (CRYPTO: UNI), Avalanche (CRYPTO: AVAX), and Aave (CRYPTO: AAVE).

Additionally, CME has rolled out a sister benchmark—the CME CF Crypto Market Index—which includes the same ten coins along with Bitcoin and Ethereum. CF Benchmarks manages both indexes, publishing updated values every second and daily settlement prices at 4 p.m. in London, New York, and Singapore. However, CME has not launched any futures contracts linked to either index, so these benchmarks currently have no financial tracking.

BNB, XRP, Solana and Hyperliquid Hold About 93% of the Index

The CME Emerging Crypto Index calculates each coin’s weight based on its free-float market capitalization. This means it considers only coins available for trading and excludes those held back by teams or organizations. According to CF Benchmarks’ research from August 13, the preliminary weights of these coins are as follows:

BNB: 32.0% XRP: 27.6% Solana: 18.5% Hyperliquid: 14.6% Remaining six combined: 7.3% This composition shows the index largely functions as a four-coin basket, with BNB, XRP, Solana, and Hyperliquid accounting for about 92.8% of the total portfolio. The remaining six coins—Chainlink, Stellar, Sui, Uniswap, Avalanche, and Aave—share the rest and have minimal impact on the index’s movements.

Why Dogecoin, Cardano and Other Large Coins Missed the Cut

CF Benchmarks sets specific criteria for cryptocurrencies that want to join the index. Notably, meme coins, which are often built around jokes (like Dogecoin (CRYPTO: DOGE)), are excluded. Despite having a larger market cap than Chainlink, Dogecoin does not meet CF Benchmarks’ standards.

Additionally, CF Benchmarks conducts a protocol-use test, measuring the value deposited into a network’s applications against the token’s fully diluted market cap—which reflects the potential total value of every token that will ever exist.

Each coin must also meet custody requirements for secure institutional holding. Coins that don’t yet meet U.S. listing standards could still join at launch if they are expected to meet them within 30 days, and collectively they can account for up to 10% of the index.

CF Benchmarks also excluded other significant coins, such as Cardano (CRYPTO: ADA), Litecoin (CRYPTO: LTC), Hedera (CRYPTO: HBAR), Monero (CRYPTO: XMR), Zcash (CRYPTO: ZEC), and NEAR Protocol (CRYPTO: NEAR). Of the large coins left out, only Dogecoin’s elimination aligns specifically with the stated selection criteria. CF Benchmarks reviews and updates the index members and their weights biannually, on the first business day of June and December.

The CME Emerging Crypto Index Has Trailed the Broad Market With Bigger Swings

An analysis by CF Benchmarks, through August 13, shows that the Emerging Crypto Index’s ten-coin basket has underperformed the broader market index, which includes Bitcoin and Ethereum. Over the past year, it trailed the broader index by 14.8 percentage points and over three years by 7.7 percentage points. Additionally, the Emerging Crypto Index demonstrated greater price volatility, displaying an annual volatility rate of 67.3%.

Notably, during the 11 months when the overall index gained more than 10%, the Emerging Crypto Index averaged a 31.4% gain, compared with 19.6% for the broader market.

As of October 9, all index members experienced declines over the past week and displayed varying performance over 30 days:

Coin 7-Day Change 30-Day Change Market Cap BNB -5.4% -1.5% $98.5 billion XRP -9.0% -1.6% $88.3 billion Solana -8.9% +7.1% $65.4 billion Hyperliquid -5.3% -0.1% $19.2 billion Chainlink -10.4% +6.8% $9.7 billion Stellar -13.5% +3.3% $6.8 billion Uniswap -19.9% +9.4% $4.6 billion Avalanche -6.6% +31.2% $4.6 billion Sui -9.1% +32.2% $4.4 billion Aave -8.8% +29.4% $2.6 billion Among these, Sui, Avalanche, and Aave posted the biggest gains over 30 days; however, they collectively represent only about 7% of the index’s overall weight. Conversely, BNB and XRP, which account for about 60% of the index, slipped slightly over the same period.

What Does the CME Emerging Crypto Index Tell Investors? Overall, the CME Emerging Crypto Index reflects the cryptocurrencies institutions are currently willing to track, rather than predicting which coins will deliver the best performance. The chosen coins—BNB, XRP, Solana, and Hyperliquid—make up about 93% of the index’s weight. The CFTC’s October proposal recognizes both XRP and Stellar as digital commodities, aligning well with the index’s focus on regulatory acceptance.

For the six smaller coins, inclusion in the index brings a CME label, though their limited weight means minimal market impact until futures contracts or funds are linked to them. The first assessment will occur during the December rebalance. If the top four coins still dominate with around 93% of the index’s weight, the index will stay a four-coin basket, and a futures listing could be the first event to send money into these selected cryptocurrencies.

Contact [email protected] for any questions or corrections.

Ethereum, Solana, XRP, and Bitcoin each tell a different story heading into October, but a 64% chance of a Fed rate hike and a 5% Treasury yield could scramble the rankings before the month even begins.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

As of September 30, Ethereum (CRYPTO:ETH) has seen impressive growth, climbing about 57% over the past 90 days. This outperformed other major coins: Solana (CRYPTO:SOL) increased by 48%, XRP (CRYPTO:XRP) grew by 37%, and Bitcoin (CRYPTO:BTC) rose by 36%. For instance, if you had invested $1,000 in Ethereum at the beginning of July, you would have around $1,573 by the end of September.

In the last month alone, Solana led with a 15% increase, while Ethereum and XRP rose 8% and Bitcoin gained 6%. Currently, Solana is priced at $118, about 60% lower than its all-time high, while Ethereum trades at $2,706, about 45% below its peak. This suggests Ethereum not only posted strong 90-day gains but has also fallen less from its peak.

Bitcoin Trails the Majors but Holds Up Best Against Its Record

Despite trailing behind other major coins, Bitcoin has shown resilience. It currently trades at $83,893, about 33% below its record high of $126,080—the smallest gap among the major cryptocurrencies. Bitcoin closed its first winning quarter in a year, making it an appealing option for those prioritizing value protection over aggressive gains.

XRP is trading at $1.49, approximately 59% below its peak of $3.65 in July 2025. While it performed better than Bitcoin over one month and 90 days, it didn’t quite keep up with Ethereum or Solana in terms of growth, leaving it without a significant edge.

NEAR, Arbitrum and Zcash Beat Every Major, but With More Risk

Among the smaller coins discussed, NEAR Protocol (CRYPTO:NEAR) stands out, with a year-to-date increase of about 230% and an impressive 89% growth over the last 12 months. If you invested $1,000 in NEAR at the start of September, you would hold about $2,590 by the end of the month. However, NEAR is currently priced at $5.11, 75% below its record high of $20.44 from January 2022.

Arbitrum (CRYPTO:ARB), a layer-2 network that offers cheaper transaction processing for Ethereum, has surged about 165% over the last 90 days, yet it trades at only about 20 cents—91% below its all-time high of $2.39 —after falling to a record low in June.

Zcash (CRYPTO:ZEC), known for its privacy features, has also performed well, rising about 75% last month, with its current price at $1,402 and a market value that ranks it among the top ten cryptocurrencies.

Other coins like Sui (CRYPTO:SUI), Uniswap (CRYPTO:UNI), Litecoin (CRYPTO:LTC), and Hedera (CRYPTO:HBAR) also experienced gains between 38% and 74% in September, but their momentum is based on a single month’s performance.

A 5% Treasury Yield and the October Fed Meeting Threaten Every Coin

Consider the external economic environment when evaluating cryptocurrencies. On September 25, the 10-year Treasury yield was at 5.17%, creating a known return for bonds while cryptocurrencies rely solely on price appreciation for gains. Additionally, the chances of a quarter-point rate hike by the Federal Reserve during its October 27-28 meeting stand at about 64%.

Although Goldman Sachs has delayed its rate-hike forecast due to weaker inflation data, traders’ expectations tend to shift frequently. If rates rise, borrowing costs will increase, and speculative cryptocurrencies may take the hardest hit.

What Is the Best Crypto to Buy in October 2026? Among the major coins, Ethereum seems to be the best choice for October 2026 because of its strong performance over the last 90 days and its ability to retain more value than Solana. Bitcoin is a solid option for those focused on value preservation, followed by Solana and XRP.

Among the smaller coins, NEAR stands out, with Zcash following closely. Arbitrum, Sui, Uniswap, Litecoin, and Hedera are better suited for a smaller portion of any portfolio.

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Contact [email protected] for any questions or corrections.

Establishes Sun as a Leading North American Pure-Play MH and RV Platform; Provides Updates on Recent Share Repurchase Activity  | Source: Sun Communities, Inc.

Southfield, MI, Sept. 22, 2026 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company” or “Sun”), a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing (“MH”) and recreational vehicle (“RV”) communities, today announced it completed the previously announced sale of its UK assets, including the Park Holidays business ("Park Holidays"), to Panther Bidco Limited, an affiliate of Aermont Capital ("Aermont"), in an all-cash transaction.

At closing, the Company received net cash consideration of approximately $1.03 billion, after customary locked-box adjustments and transaction costs. The proceeds from the sale are expected to be used primarily to repurchase shares, pay down debt and for general corporate purposes.

With the completion of the transaction, Sun is positioned as a pure-play North American MH and RV-focused owner and operator.

Charles Young, Sun’s Chief Executive Officer, commented: “I want to thank the Park Holidays team for their commitment, partnership and contributions throughout our ownership, and for the professionalism that made this a smooth and orderly closing. We are proud of what we built together and wish the team continued success in this next chapter under Aermont’s ownership. The sale of Park Holidays positions Sun to execute on our strategy of driving long-term, durable growth through our best-in-class North American MH and RV platform, backed by a flexible, low-leverage balance sheet."

Share Repurchase Activity

Year-to-date through September 21, 2026, the Company has repurchased approximately 3.5 million shares of its common stock for an aggregate amount of approximately $425 million.

Third Quarter 2026 Earnings

The Company expects to provide an update to its full-year 2026 outlook, reflecting the completion of the transaction and the related uses of proceeds known at that time, on its third quarter 2026 earnings call.

Advisors

Lazard Frères & Co. LLC acted as lead financial advisor and BofA Securities, BMO Capital Markets, Citigroup, JP Morgan Securities LLC and Wells Fargo also acted as financial advisors to the Company. Jones Day and Taft Stettinius & Hollister LLP acted as legal advisors to the Company on the transaction. ICR, LLC served as communications advisor to the Company. Rothschild & Co acted as financial advisor and Macfarlanes acted as legal advisor to Aermont.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains various “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Company intends that such forward-looking statements will be subject to the safe harbors created thereby. For this purpose, any statements contained in this press release that relate to expectations, beliefs, projections, future plans and strategies, trends or prospective events or developments and similar expressions concerning matters that are not historical facts are deemed to be forward-looking statements. Words such as “forecasts,” “intend,” “goal,” “estimate,” “expect,” “project,” “projections,” “plans,” “predicts,” “potential,” “seeks,” “anticipates,” “should,” “could,” “may,” “will,” “designed to,” “foreseeable future,” “believe,” “scheduled,” “guidance”, “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements reflect the Company’s current views with respect to future events and financial performance, but involve known and unknown risks, uncertainties and other factors, both general and specific to the matters discussed in or incorporated herein, some of which are beyond the Company’s control. These risks, uncertainties and other factors may cause the Company’s actual results to be materially different from any future results expressed or implied by such forward-looking statements. In addition to the risks disclosed under “Risk Factors” contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, in Item 8.01 of the Company's Current Report on Form 8-K filed May 21, 2026, in Part II, Item 1A. in the Company's Quarterly Report on Form 10-Q for the three months ended June 30, 2026, and in the Company’s other filings with the Securities and Exchange Commission from time to time, such risks, uncertainties and other factors include, but are not limited to:

The final costs, adjustments and net proceeds related to the completed sale of Park Holidays;The ability of the Company to realize the anticipated benefits of the completed sale of Park Holidays, including with respect to the intended uses of proceeds;The Company’s ability to deploy the proceeds from the Park Holidays sale in a timely or value-accretive manner;The Company's liquidity and refinancing demands;The Company's ability to obtain or refinance maturing debt;The Company's ability to maintain compliance with covenants contained in its debt facilities and its unsecured notes;Availability of capital;General volatility of the capital markets and the market price of shares of the Company's capital stock;The timing, manner and amount of any repurchases under the Company’s share repurchase program;Increases in interest rates and operating costs, including insurance premiums, real estate taxes, and utilities;Difficulties in the Company's ability to evaluate, finance, complete, and integrate acquisitions, developments, and expansions successfully;Competitive market forces;The ability of purchasers of manufactured homes to obtain financing;The level of repossessions of manufactured homes;The Company's ability to maintain effective internal control over financial reporting and disclosure controls and procedures;Expectations regarding the amount or frequency of impairment losses;Changes in general economic conditions, including inflation, deflation, energy costs, the real estate industry, the effects of tariffs or threats of tariffs, wars or other international conflicts, trade wars, immigration issues, supply chain disruptions, and the markets within which the Company operates;Changes in foreign currency exchange rates, including between the U.S. dollar and each of the British pound sterling, Canadian dollar, and Australian dollar;The Company's ability to maintain its status as a REIT;Changes in real estate and zoning laws and regulations;The Company's ability to maintain rental rates and occupancy levels;Legislative or regulatory changes, including changes to laws governing the taxation of REITs;Outbreaks of disease and related restrictions on business operations;Risks related to natural disasters such as hurricanes, earthquakes, floods, droughts, and wildfires; andLitigation, judgments or settlements, including costs associated with prosecuting or defending claims and any adverse outcomes. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements included or incorporated by reference into this document, whether as a result of new information, future events, changes in the Company’s expectations or otherwise, except as required by law.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. All written and oral forward-looking statements attributable to the Company or persons acting on the Company’s behalf are qualified in their entirety by these cautionary statements.

About Sun Communities, Inc.

Sun Communities, Inc. is a REIT that, as of June 30, 2026, owned, operated, or had an interest in a portfolio of 455 developed properties comprising approximately 156,130 developed sites in the United States and Canada.

For Further Information at the Company:

Sun Communities Investor Relations Team
[email protected]
(248) 208-2500
www.suninc.com

Hsbc Holdings PLC lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI – Free Report) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,646 shares of the real estate investment trust’s stock after selling 27,879 shares during the quarter. Hsbc Holdings PLC owned about 0.47% of Sun Communities worth $68,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SUI. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Sun Communities during the second quarter valued at about $85,000. RB Capital Management LLC purchased a new position in shares of Sun Communities in the 2nd quarter worth approximately $201,000. Empowered Funds LLC bought a new position in shares of Sun Communities during the 2nd quarter worth approximately $510,000. United Capital Financial Advisors LLC bought a new position in shares of Sun Communities during the 2nd quarter worth approximately $362,000. Finally, Brasada Capital Management LP purchased a new stake in Sun Communities during the second quarter valued at approximately $342,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets Several equities research analysts have weighed in on SUI shares. Deutsche Bank Aktiengesellschaft set a $133.00 target price on shares of Sun Communities in a research note on Thursday, May 14th. Truist Financial decreased their price objective on Sun Communities from $141.00 to $138.00 and set a “buy” rating for the company in a report on Friday, June 26th. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their target price on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Finally, Bank of America raised Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price on the stock in a research report on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $139.42.

View Our Latest Report on SUI Insider Buying and Selling In other news, Director Gary Shiffman sold 25,031 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the sale, the director directly owned 857,761 shares of the company’s stock, valued at $102,897,009.56. This represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.58% of the company’s stock.

Sun Communities Trading Up 0.0% Sun Communities stock opened at $119.46 on Tuesday. The stock has a 50-day moving average price of $121.44 and a 200 day moving average price of $125.39. The company has a market capitalization of $14.55 billion, a price-to-earnings ratio of -16.85, a price-to-earnings-growth ratio of 5.45 and a beta of 0.77. Sun Communities, Inc. has a 52 week low of $115.90 and a 52 week high of $137.85. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Profile (Free Report)

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

Recommended Stories Five stocks we like better than Sun Communities 3 Under-the-Radar Defense Stocks With Record Backlogs This Korea ETF Has Soared, But the Rally May Not Be Over Why Guidewire’s Post-Earnings Plunge May Not Last Ride-Share Reckoning: Tesla Drives Into Uber’s Lane Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. (NYSE:SUI – Free Report).

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Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Sun Communities, Inc. (NYSE: SUI) breached their fiduciary duties to shareholders.

If you currently own Sun Communities stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

Why Your Participation Matters:

Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
Halper Sadeh LLC
One World Trade Center
85th Floor
New York, NY 10007
Daniel Sadeh, Esq.
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[email protected]
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SOURCE Halper Sadeh LLP

Bank of New York Mellon Corp purchased a new position in Sun Communities, Inc. (NYSE:SUI – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 689,363 shares of the real estate investment trust’s stock, valued at approximately $82,662,000. Bank of New York Mellon Corp owned 0.57% of Sun Communities as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Sun Communities by 17.8% in the first quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust’s stock worth $1,554,000 after purchasing an additional 1,827 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Sun Communities by 21.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust’s stock worth $25,128,000 after buying an additional 33,981 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Sun Communities by 32.5% in the 1st quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 829 shares during the last quarter. Acadian Asset Management LLC bought a new position in Sun Communities during the 1st quarter valued at approximately $362,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Sun Communities by 26.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 673 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 141 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Insider Activity at Sun Communities In other news, Director Gary A. Shiffman sold 25,031 shares of Sun Communities stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the sale, the director directly owned 857,761 shares in the company, valued at $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.58% of the stock is owned by corporate insiders.

Sun Communities Trading Up 1.9% Shares of NYSE:SUI opened at $125.81 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52. Sun Communities, Inc. has a 1 year low of $115.90 and a 1 year high of $137.85. The company has a market cap of $15.32 billion, a P/E ratio of -17.75, a PEG ratio of 5.63 and a beta of 0.78. The stock’s fifty day moving average price is $121.09 and its 200-day moving average price is $125.80. Sun Communities Announces Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Sun Communities’s dividend payout ratio (DPR) is presently -63.19%.

Analyst Upgrades and Downgrades Several equities research analysts have commented on the company. Weiss Ratings downgraded Sun Communities from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Mizuho reduced their price target on Sun Communities from $143.00 to $137.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Wells Fargo & Company lowered their price target on Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Truist Financial dropped their price target on shares of Sun Communities from $141.00 to $138.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.38.

Get Our Latest Research Report on SUI

Sun Communities Company Profile (Free Report)

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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SUI Group Holdings Limited (SUIG) Q2 2026 Earnings Call August 6, 2026 5:00 PM EDT

Company Participants

Marius Barnett
Douglas Polinsky - Co-Founder, CEO, President & Director
Joseph Geraci

Conference Call Participants

Kevin Pimental - Alliance Global Partners, Research Division
Gareth Gacetta - Cantor Fitzgerald & Co., Research Division
Noah Katz - Citizens JMP Securities, LLC, Research Division

Presentation

Operator

Good afternoon, everyone, and thank you for participating in today's conference call to discuss SUI Group's financial and operating results for the second quarter ended June 30, 2026. Joining us today are SUI Group's Chairman of the Board, Marius Barnett; Chief Executive Officer, Douglas Polinsky; and Chief Financial Officer, Joseph Geraci. By now, everyone should have access to the company's second quarter 2026 earnings press release, which was issued this afternoon at approximately 4:05 Eastern Time. The release is available in the Investor Relations section of the company's website at www.suig.io. This call will also be available for webcast replay on the company's website. Following management remarks, we'll open the call up for questions.

Please be advised this conference will contain statements that are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements can often be identified by the use of words such as believe, expect, intend, continue, will, may, should, estimate, potential or similar expressions. These forward-looking statements are subject to certain known and unknown risks and uncertainties as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements.

These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC, such as the inherent volatility and risks associated with investing in SUI. Do not place undue reliance on any forward-looking statements, which are being made only

Sun Communities, Inc. (SUI) Q2 2026 Earnings Call July 28, 2026 11:00 AM EDT

Company Participants

Charles Young - CEO & Director
John McLaren - President & COO
Fernando Castro-Caratini - CFO, Executive VP, Secretary & Treasurer
Aaron Weiss - Executive VP & Chief Investment Officer

Conference Call Participants

Jana Galan - BofA Securities, Research Division
James Feldman - Wells Fargo Securities, LLC, Research Division
Eric Wolfe - Citigroup Inc., Research Division
Brad Heffern - RBC Capital Markets, Research Division
Michael Goldsmith - UBS Investment Bank, Research Division
Steve Sakwa - Evercore ISI Institutional Equities, Research Division
John Kim - BMO Capital Markets Equity Research
Haendel St. Juste - Mizuho Securities USA LLC, Research Division
Jason Wayne - Barclays Bank PLC, Research Division
Adam Kramer - Morgan Stanley, Research Division
Wesley Golladay - Robert W. Baird & Co. Incorporated, Research Division
Peter Abramowitz - Deutsche Bank AG, Research Division
David Segall
Jesse Lederman - Zelman & Associates LLC

Presentation

Operator

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Sun Communities Second Quarter 2026 Earnings Conference Call. The press release and supplemental financial information can be found on the Investor Relations section of the company's website.

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 meaning of the Private Securities Litigation Reform Act of 1995. During today's call, management may discuss certain non-GAAP financial measures. Reconciliations of these measures to the most directly comparable to GAAP measures are included in the press release and supplemental financial information.

Although the company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the company can provide no assurance that its expectations will be achieved. Factors and risks that could cause actual results to differ materially from expectations are detailed in

Net Loss per Diluted Share of $8.08 for the Quarter, inclusive of a Net Loss from Discontinued Operations

Net Income per Diluted Share from Continuing Operations of $0.32 for the Quarter

Core FFO per Share of $1.84 for the Quarter

Same Property NOI Grew by 6.0% for the Quarter Driven by Strength in Manufactured Housing

Same Property Adjusted Blended Occupancy for MH and RV of 98.8%

Increasing 2026 Same Property NOI Growth Guidance by 20 Basis Points, to 4.5% - 5.3%

Southfield, MI, July 27, 2026 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the "Company" or "SUI"), a real estate investment trust ("REIT") that owns and operates, or has an interest in, manufactured housing ("MH") and recreational vehicle ("RV") communities (collectively, the "properties"), today reported its second quarter results for 2026.

Financial Results for the Quarter and Six Months Ended June 30, 2026

For the quarter ended June 30, 2026, net income attributable to continuing operations was $42.3 million, or $0.32 per diluted share, compared to a net loss from continuing operations of $30.0 million, or $0.74 per diluted share for the same period in 2025.For the quarter ended June 30, 2026, net loss attributable to common shareholders was $992.7 million, or $8.08 per diluted share, compared to net income attributable to common shareholders of $1.3 billion, or $10.02 per diluted share for the same period in 2025.For the six months ended June 30, 2026, net income attributable to continuing operations was $60.7 million, or $0.47 per diluted share, compared to a net loss from continuing operations of $51.7 million, or $0.92 per diluted share for the same period in 2025.For the six months ended June 30, 2026, net loss attributable to common shareholders was $1.0 billion, or $8.10 per diluted share, compared to net income attributable to common shareholders of $1.2 billion, or $9.68 per diluted share for the same period in 2025. Non-GAAP Financial Measures

Funds from Operations ("FFO") for the quarter and six months ended June 30, 2026, was $1.77 and $2.71, respectively, per common share and convertible securities ("Share"), as compared to $1.36 and $2.43 for the same periods in 2025.Core Funds from Operations ("Core FFO") for the quarter and six months ended June 30, 2026, was $1.84 and $3.24, respectively, per common share and convertible securities ("Share"), as compared to $1.76 and $3.02 for the same periods in 2025.Same Property Net Operating Income ("NOI") increased by $14.4 million and $28.0 million, or 6.0% and 6.1%, respectively, for the quarter and six months ended June 30, 2026, as compared to the corresponding period in 2025. "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."

OPERATING HIGHLIGHTS

Portfolio Occupancy

MH and annual RV sites were 97.9% occupied at June 30, 2026, as compared to 98.1% at June 30, 2025.During the quarter ended June 30, 2026, the number of MH and annual RV revenue producing sites increased by approximately 250 sites. Same Property Results

For the properties owned and operated by the Company since at least January 1, 2025, excluding properties classified as discontinued operations, the following table reflects the percentage changes for the quarter and six months ended June 30, 2026, as compared to the same period in 2025:

 Quarter Ended June 30, 2026 Six Months Ended June 30, 2026 MH RV Total MH RV TotalRevenue        6.2        %         0.0        %         3.9        %         6.4        %         1.7        %         4.8        %Expense        (0.7)        %         0.8        %         0.1        %         3.3        %         1.3        %         2.3        %NOI        8.8        %         (0.7)        %         6.0        %         7.5        %         2.0        %         6.1        %             As of June 30, 2026       MH RV Total      Number of Properties282  152  434        Same Property adjusted blended occupancy for MH and RV declined by 10 basis points to 98.8% at June 30, 2026, from 98.9% at June 30, 2025.

INVESTMENT ACTIVITY

During the quarter ended June 30, 2026, the Company sold a total of six RV properties in two transactions. Refer to page 12 for additional details related to the Company's acquisition and disposition activity.

BALANCE SHEET, CAPITAL MARKETS ACTIVITY, AND OTHER ITEMS

As of June 30, 2026, the Company had $4.1 billion in debt outstanding with a weighted average interest rate of 3.3% and a weighted average maturity of 6.9 years. At June 30, 2026, the Company's Net Debt to trailing twelve-month Recurring EBITDA ratio was 3.9 times.

Park Holidays Sale

As previously announced, during the quarter ended June 30, 2026, the Company entered into an agreement to sell (the "Park Holidays Sale") all of the outstanding equity of the subsidiaries through which the Company operates its business in the United Kingdom (collectively, "Park Holidays" or the "UK business") for a base consideration amount of £785.7 million (or approximately $1.04 billion). The total cash consideration received at closing is subject to certain customary locked box adjustments.

The transaction is subject to receipt of a required regulatory approval from the UK Financial Conduct Authority, and is expected to close in the second half of 2026.

Reporting Changes

As a result of the Park Holidays Sale, the results of the UK business and assets and liabilities included in the disposition are presented as held for sale and as discontinued operations for all periods presented herein. During the quarter ended June 30, 2026, the Company recorded a non-cash valuation allowance charge of $1.1 billion to reduce the net assets of the UK business to its estimated fair value less costs to sell in accordance with its presentation as a discontinued operation. Unless otherwise noted, the information disclosed in this Earnings Release and Supplemental Package refer only to continuing operations and do not include discussion of balances or activity related to discontinued operations, including the UK business.

The Company has also revised its reporting structure to two segments, which consist of (i) MH communities, and (ii) RV communities. The new structure removes the UK business from the Company's operating segments as a result of its classification as a discontinued operation and reflects how the chief operating decision maker manages the business, makes operating decisions, allocates resources, and evaluates operating performance.

Stock Repurchase Program

Effective May 27, 2026, the Company's Board of Directors authorized a stock repurchase program (the "Stock Repurchase Program") under which the Company may repurchase up to $1.0 billion of its common stock through May 27, 2027. The Stock Repurchase Program renewed the Company's previous stock repurchase program and provides the Company with continued flexibility to repurchase shares of its common stock.

During the quarter ended June 30, 2026, the Company repurchased approximately 0.9 million shares of the Company's common stock at an average price of $123.30 per share for a total of $111.1 million. Subsequent to the quarter ended June 30, 2026, through July 22, 2026, the Company repurchased approximately 0.7 million shares of the Company's common stock at an average price of $120.62 per share for a total of $89.0 million.

Debt Repayments

During the quarter ended June 30, 2026, the Company repaid two mortgage term loans totaling $177.9 million, which unencumbered seven properties. Subsequent to the quarter ended June 30, 2026, the Company repaid two mortgage term loans totaling $258.3 million, which unencumbered 16 properties.

2026 GUIDANCE

The Company is updating full-year and establishing third quarter 2026 guidance for Diluted EPS and Core FFO per Share and certain other items as set forth below. 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. 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.

  Third Quarter Ending September 30, 2026 Full Year Ending December 31, 2026  Low High Low HighDiluted EPS attributable to the Consolidated Portfolio(a)(b) $        1.13         $        1.23         $        (6.72) $        (6.56)Core FFO per Share attributable to the Consolidated Portfolio(a)(b)(c) $        2.23         $        2.33         $        6.94          $        7.10          (a) The diluted share counts for both the quarter ending September 30, 2026 and the year ending December 31, 2026 are estimated to be 125.9 million and 126.6 million, respectively, which assumes full conversion of all equity participating units, including common and preferred OP units, into the Company's common stock.
(b) No reconciliation of the forecasted range for FFO per share is included in this release because the Company is unable to quantify certain amounts that would be required to be included in the reconciliation to the comparable GAAP financial measure without unreasonable efforts. In particular, the timing and magnitude of the anticipated loss associated with the disposition of the Company's UK segment remain uncertain. The Company believes that any such reconciliation would imply a degree of precision that could be confusing or misleading to investors and would not be representative of the underlying operating performance of the Company's continuing operations.
(c) The Company's guidance translates forecasted results from operations in the UK using the relevant exchange rate provided. Exchange rates are as follows: U.S. dollar ("USD") to British pound sterling ("GBP") is 1.30; USD to Canadian dollar ("CAD") is 0.72; and USD to Australian dollar ("AUD") is 0.64. The impact of fluctuations in Canadian and Australian foreign currency rates on guidance are not material.

Same Property Portfolio (in millions and %) FY 2025 Actual Results Expected Change in 2026  July 27, 2026 Update Prior FY RangeNorth America (MH and RV)          Revenues from real property $        1,453.0                 3.9%-4.6%         3.9%-4.6%Total property operating expenses          483.7                 2.5%-2.8%         3.2%-3.6%Total North America Same Property NOI(a) $        969.3         4.5%-5.3%         4.2%-5.2%           MH NOI (282 properties) $        688.3                 6.1%-6.9%         5.7%-6.7%RV NOI (152 properties) $        281.0                 0.2%-1.8%         0.0%-1.8% For the third quarter ending September 30, 2026, the Company's guidance range assumes North America Same Property NOI growth of 2.0% - 3.5%.

Consolidated Portfolio Guidance For 2026
(in millions) FY 2025 Actual Results FY 2026 Guidance Update at Midpoint as of July 27, 2026Ancillary NOI $        27.7         $        24.5Interest income $        48.1         $        21.5Brokerage commissions and other, net(b) $        39.2         $        45.5FFO contribution from North American home sales $        6.6         $        1.5General and administrative expenses excluding non-recurring expenses $        165.8         $        172.0Interest expense $        210.7         $        153.0Current tax expense $        3.3         $        4.0Contribution from Discontinued Operations(c) $        77.8         $        86.2 Contribution 1Q26 2Q26 3Q26 4Q26North America Same Property NOI:        MH 25% 25% 25% 25%RV 17% 25% 39% 19%Total 22% 25% 29% 24%         Home Sales FFO - North America 0% 11% 72% 17%Consolidated Ancillary NOI (2)% 30% 65% 7%Consolidated EBITDA 20% 25% 31% 24%Core FFO per Share(d) 21% 25% 31% 23% UK Contribution 1H26 Jul Aug Sep Oct Nov DecContribution from Discontinued Operations(e) 40% 14% 20% 10% 11% 4% 1% Footnotes to Supplemental Guidance Tables:    (a)Total North America Same Property results net $95.6 million and $102.3 million of utility revenue against the related utility expense in property operating expenses for 2025 results and 2026 guidance, respectively.(b)Brokerage commissions and other, net includes approximately $13.8 million and $12.8 million of business interruption income, and $16.4 million and $22.6 million of income from nonconsolidated affiliates for full year 2025 results and 2026 guidance, respectively. The business interruption income includes the pro rata recognition of the lump sum insurance settlement that was received during the quarter ended December 31, 2025.(c)The Contribution from Discontinued Operations includes the entire net contribution from the UK Business, inclusive of Real Property NOI, Home Sales FFO, Brokerage and Other, General and Administrative Expenses excluding non-recurring items, Interest Expense, and Current Tax Expense.(d)Assumes full conversion of all equity participating units, including common and preferred OP units, into the Company's common stock.(e)The UK business sale is expected to close in the second half of 2026. Illustrative full year contribution from the UK business is shown. The estimates and assumptions presented above represent a range of possible outcomes and may differ materially from actual results. These estimates include contributions from all acquisitions, dispositions and capital markets activity completed through July 27, 2026. These estimates exclude the effects of the Park Holidays Sale and all other prospective acquisitions, dispositions and capital markets activity. The estimates and assumptions are forward-looking based on the Company's current assessment of economic and market conditions and are subject to the other risks outlined below under the caption Cautionary Statement Regarding Forward-Looking Statements.

EARNINGS CONFERENCE CALL

A conference call to discuss second quarter results will be held on Tuesday, July 28, 2026 at 11:00 A.M. (ET). To participate, call toll-free at (877) 407-9039. Callers outside the U.S. or Canada can access the call at (201) 689-8470. A replay will be available following the call through August 11, 2026 and can be accessed toll-free by calling (844) 512-2921 or (412) 317-6671. The Conference ID number for the call and the replay is 13760809. The conference call will be available live on the Company's website located at www.suninc.com. The replay will also be available on the website.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Company intends that such forward-looking statements will be subject to the safe harbors created thereby. For this purpose, any statements contained in this document that relate to expectations, beliefs, projections, future plans and strategies, trends or prospective events or developments, and similar expressions concerning matters that are not historical facts are deemed to be forward-looking statements. Words such as "forecasts," "intend," "goal," "estimate," "expect," "project," "projections," "plans," "predicts," "potential," "seeks," "anticipates," "should," "could," "may," "will," "designed to," "foreseeable future," "believe," "scheduled," "guidance," "target," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements reflect the Company's current views with respect to future events and financial performance, but involve known and unknown risks, uncertainties, and other factors, both general and specific to the matters discussed in this document, some of which are beyond the Company's control. These risks, uncertainties, and other factors may cause the Company's actual results to be materially different from any future results expressed or implied by such forward-looking statements. In addition to the risks described under "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, in Item 8.01 of the Company's Current Report on Form 8-K filed May 21, 2026, and in the Company's other filings with the Securities and Exchange Commission, from time to time, such risks, uncertainties and other factors include, but are not limited to:

∙The ability of the Company to complete the proposed sale of Park Holidays on a timely basis or at all;∙Risks that the proposed sale of Park Holidays disrupts current plans and operations;∙The impacts of the announcement or consummation of the proposed sale of Park Holidays on business relationships;∙The anticipated cost related to the proposed sale of Park Holidays;∙The ability for the Company to realize the anticipated benefits of the proposed sale of Park Holidays;∙The Company's liquidity and refinancing demands;∙The Company's ability to obtain or refinance maturing debt;∙The Company's ability to maintain compliance with covenants contained in its debt facilities and its unsecured notes;∙Availability of capital;∙General volatility of the capital markets and the market price of shares of the Company's capital stock;∙Increases in interest rates and operating costs, including insurance premiums, real estate taxes, and utilities;∙Difficulties in the Company's ability to evaluate, finance, complete, and integrate acquisitions, developments, and expansions successfully;∙Competitive market forces;∙The ability of purchasers of manufactured homes to obtain financing;∙The level of repossessions of manufactured homes;∙The Company's ability to maintain effective internal control over financial reporting and disclosure controls and procedures;∙Expectations regarding the amount or frequency of impairment losses;∙Changes in general economic conditions, including inflation, deflation, energy costs, the real estate industry, the effects of tariffs or threats of tariffs, wars or other international conflicts, trade wars, immigration issues, supply chain disruptions, and the markets within which the Company operates;∙Changes in foreign currency exchange rates, including between the U.S. dollar and each of the British pound sterling, Canadian dollar, and Australian dollar;∙The Company's ability to maintain its status as a REIT;∙Changes in real estate and zoning laws and regulations;∙The Company's ability to maintain rental rates and occupancy levels;∙Legislative or regulatory changes, including changes to laws governing the taxation of REITs;∙Outbreaks of disease and related restrictions on business operations;∙Risks related to natural disasters such as hurricanes, earthquakes, floods, droughts, and wildfires; and∙Litigation, judgments or settlements, including costs associated with prosecuting or defending claims and any adverse outcomes. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements included or incorporated by reference into this document, whether as a result of new information, future events, changes in the Company's expectations or otherwise, except as required by law.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. All written and oral forward-looking statements attributable to the Company or persons acting on the Company's behalf are qualified in their entirety by these cautionary statements.

Company Overview and Investor Information

The Company

Established in 1975, Sun 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.

For more information about the Company, please visit www.suninc.com.

Company Contacts Investor Relations Sara Ismail, Senior Vice President (248) 208-2500 [email protected]  Corporate Debt Ratings Moody'sBaa2 | StableS&PBBB+ | Stable Portfolio Overview as of June 30, 2026

  MH & RV Properties  Properties MH & Annual RV Transient RV Sites Total SitesLocation  Sites Occupancy %  Florida         125                 42,520                 97.1        %         4,700                 47,220        Michigan         90                 34,420                 98.2        %         510                 34,930        California         36                 7,040                 99.6        %         1,720                 8,760        Texas         28                 9,330                 97.8        %         1,410                 10,740        Connecticut         16                 1,910                 96.6        %         100                 2,010        Maine         14                 2,520                 97.7        %         810                 3,330        New Jersey         13                 3,590                 100.0        %         910                 4,500        Arizona         11                 4,140                 97.5        %         860                 5,000        Colorado         11                 2,930                 94.0        %         940                 3,870        Indiana         10                 2,820                 99.0        %         1,000                 3,820        Maryland         10                 920                 99.1        %         1,370                 2,290        New York         9                 1,570                 99.4        %         1,040                 2,610        Other         82                 19,660                 98.9        %         7,390                 27,050        Total Portfolio         455                 133,370                 97.9        %         22,760                 156,130         Financial and Operating Highlights
($ in millions, except Per Share amounts)

 Quarters Ended 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025Financial Information         Basic earnings / (loss) per share from continuing operations$        0.65          $        0.13          $        0.88          $        (0.45        ) $        (0.74        )Basic earnings / (loss) per share from discontinued operations         (8.71        )          (0.20        )          0.11                   0.52                   10.76         Basic earnings / (loss) per share$        (8.06        ) $        (0.07        ) $        0.99          $        0.07          $        10.02         Diluted earnings / (loss) per share from continuing operations$        0.32          $        0.13          $        0.88          $        (0.45        ) $        (0.74        )Diluted earnings / (loss) per share from discontinued operations         (8.40        )          (0.20        )          0.11                   0.52                   10.76         Diluted earnings / (loss) per share$        (8.08        ) $        (0.07        ) $        0.99          $        0.07          $        10.02                   Cash distributions declared per common share(a)$        1.12          $        1.12          $        1.04          $        1.04          $        1.04                   FFO per Share(b)$        1.77          $        0.95          $        2.15          $        2.18          $        1.36         Core FFO per Share(b)$        1.84          $        1.40          $        1.40          $        2.28          $        1.76                   Real Property NOI(b)         MH$        186.5          $        185.7          $        178.8          $        171.8          $        168.5         RV         74.1                   50.7                   53.3                   115.5                   72.9         Total$        260.6          $        236.4          $        232.1          $        287.3          $        241.4                   Recurring EBITDA(b)$        264.4          $        195.2          $        206.2          $        335.7          $        291.3         TTM Recurring EBITDA / Interest(b)6.6 x 6.0 x 4.9 x 4.4 x 3.8 xNet Debt / TTM Recurring EBITDA(b)3.9 x 3.7 x 3.4 x 3.3 x 2.9 x          Balance Sheet         Total assets$        10,867.6          $        12,358.8          $        12,522.9          $        12,800.3          $        13,362.1         Total debt$        4,052.2          $        4,246.2          $        4,258.7          $        4,271.7          $        4,283.5         Total liabilities$        5,090.0          $        5,299.1          $        5,194.4          $        5,438.0          $        5,570.0                   Operating Information         Properties         MH         295                   295                   294                   284                   284         RV         160                   166                   166                   164                   164         Total         455                   461                   460                   448                   448                   Sites         MH         100,860                   100,830                   100,150                   97,070                   97,380         Annual RV         32,510                   32,730                   33,330                   32,480                   32,100         Transient         22,760                   23,820                   23,550                   23,560                   23,440         Total sites         156,130                   157,380                   157,030                   153,110                   152,920                   Occupancy         MH         97.3        %          97.1        %          97.2        %          97.9        %          97.4        %Annual RV         100.0        %          100.0        %          100.0        %          100.0        %          100.0        %Blended MH and annual RV         97.9        %          97.8        %          97.9        %          98.4        %          98.1        %          MH and RV Revenue Producing Site Net Gains(c)         MH leased sites, net         157                   16                   178                   152                   170         RV leased sites, net         91                   (324        )          (37        )          371                   288         Total leased sites, net         248                   (308        )          141                   523                   458          (a) During the quarter ended June 30, 2025, the Company also paid a one-time special cash distribution of $4.00 per common share and unit.
(b) Refer to Definition and Notes for additional information.
(c) Revenue producing site net gains do not include occupied sites acquired during the year.

Condensed Consolidated Balance Sheets
($ in millions)

 June 30, 2026 December 31, 2025Assets   Land$        1,793.8          $        1,810.5         Land improvements and buildings         8,733.9                   8,699.2         Rental homes and improvements         998.3                   940.2         Furniture, fixtures and equipment         687.2                   674.3         Investment property         12,213.2                   12,124.2         Accumulated depreciation         (3,702.0)          (3,505.7)Investment property, net         8,511.2                   8,618.5         Cash, cash equivalents and restricted cash(a)         165.2                   606.7         Inventory of manufactured homes         75.7                   84.7         Notes and other receivables, net         282.4                   262.9         Collateralized receivables, net(a)         39.2                   43.2         Goodwill         9.5                   9.5         Other intangible assets, net         34.0                   36.7         Other assets, net         303.7                   309.2         Assets held for sale and discontinued operations, net(a)         1,446.7                   2,551.5         Total Assets$        10,867.6          $        12,522.9         Liabilities   Mortgage loans payable$        2,225.3          $        2,429.0         Secured borrowings on collateralized receivables(a)         39.2                   43.2         Unsecured debt         1,787.7                   1,786.5         Distributions payable         139.9                   131.1         Advanced reservation deposits and rent         199.9                   125.9         Accrued expenses and accounts payable         193.3                   178.3         Other liabilities         75.8                   73.2         Liabilities held for sale and discontinued operations, net(a)         428.9                   427.2         Total Liabilities         5,090.0                   5,194.4         Commitments and contingencies   Temporary equity         184.0                   255.7         Shareholders' Equity   Common stock         1.2                   1.2         Additional paid-in capital         9,487.5                   9,563.1         Accumulated other comprehensive income         2.4                   26.5         Distributions in excess of accumulated earnings         (3,971.7)          (2,634.7)Total SUI Shareholders' Equity         5,519.4                   6,956.1         Noncontrolling interests         74.2                   116.7         Total Shareholders' Equity         5,593.6                   7,072.8         Total Liabilities, Temporary Equity and Shareholders' Equity$        10,867.6          $        12,522.9          (a) Refer to Definitions and Notes for additional information.

Condensed Consolidated Statements of Operations
($ in millions, except for per share amounts)

 Quarter Ended June 30, Six Months Ended June 30,   2026   2025  % Change  2026   2025  % ChangeRevenues           Real property (excluding transient)(a)$        362.1          $        335.3                  8.0        % $        712.7          $        657.9                  8.3        %Real property - transient         60.6                   63.6                  (4.7)        %          89.5                   92.2                  (2.9)        %Home sales         27.8                   41.8                  (33.5)        %          54.3                   70.5                  (23.0)        %Ancillary         24.6                   25.5                  (3.5)        %          33.1                   33.8                  (2.1)        %Interest         6.2                   16.4                  (62.2)        %          13.4                   20.8                  (35.6)        %Brokerage commissions and other, net         3.3                   13.3                  (75.2)        %          5.0                   14.9                  (66.4)        %Total Revenues         484.6                   495.9                  (2.3)        %          908.0                   890.1                  2.0        %Expenses           Property operating and maintenance(a)         134.5                   131.0                  2.7        %          250.3                   240.1                  4.2        %Real estate tax         27.6                   26.5                  4.2        %          54.9                   51.3                  7.0        %Home costs and selling         24.5                   35.0                  (30.0)        %          49.4                   59.5                  (17.0)        %Ancillary         17.2                   18.1                  (5.0)        %          26.3                   26.8                  (1.9)        %General and administrative         49.9                   50.6                  (1.4)        %          108.5                   97.6                  11.2        %Catastrophic event-related charges, net         0.8                   0.4                  100.0        %          1.3                   0.3          N/MDepreciation and amortization         123.9                   117.3                  5.6        %          245.3                   232.0                  5.7        %Asset impairments(a)         17.9                   33.4                  (46.4)        %          18.2                   57.4                  5.7        %Loss on extinguishment of debt         —                   102.4                  (100.0)        %          —                   102.4                  (100.0)        %Interest         38.1                   54.4                  (30.0)        %          76.5                   132.9                  (42.4)        %Total Expenses         434.4                   569.1                  (23.7)        %          830.7                   1,000.3                  (17.0)        %Income / (Loss) Before Other Items         50.2                   (73.2) N/M          77.3                   (110.2) N/MGain / (loss) on foreign currency exchanges         13.3                   39.4                  (66.2)        %          (10.6)          48.1          N/MLoss on dispositions of properties, net         (22.0)          (1.3) N/M          (20.9)          (2.1) N/MOther income / (expense), net(a)         (0.1)          6.9          N/M          8.4                   12.6                  (33.3)        %Loss on remeasurement of notes receivable         (2.9)          (1.4)         107.1        %          (2.8)          (1.6)         75.0        %Income from nonconsolidated affiliates         6.1                   3.8                  60.5        %          12.2                   6.8                  79.4        %Loss on remeasurement of investment in nonconsolidated affiliates         (1.7)          (1.5)         13.3        %          (1.5)          (1.5)         —        %Current tax expense         (0.6)          (2.6)         (76.9)        %          (1.5)          (3.8)         (60.5)        %Deferred tax benefit / (expense)         —                   (0.1)         (100.0)        %          0.1                   —          N/ANet Income / (Loss) from Continuing Operations         42.3                   (30.0) N/M          60.7                   (51.7) N/MIncome / (loss) from discontinued operations, net(a)         (1,067.2)          1,360.3          N/M          (1,091.9)          1,340.4          N/MNet Income / (Loss)         (1,024.9)          1,330.3          N/M          (1,031.2)          1,288.7          N/MLess: Preferred return to preferred OP units / equity interests         2.5                   3.2                  (21.9)        %          5.2                   6.3                  (17.5)        %Less: Income / (loss) attributable to noncontrolling interests         (34.7)          53.5          N/M          (35.0)          51.6          N/MNet Income / (Loss) Attributable to SUI Common Shareholders$        (992.7) $        1,273.6          N/M $        (1,001.4) $        1,230.8          N/M            Weighted average common shares outstanding - basic(a)         122.5                   126.4                  (3.1)        %          122.6                   126.5                  (3.1)        %Weighted average common shares outstanding - diluted(a)         127.0                   126.4                  0.5        %          127.4                   126.5                  0.7        %            Basic earnings / (loss) per share from continuing operations$        0.65          $        (0.74) N/M $        0.78          $        (0.92) N/MBasic earnings / (loss) per share from discontinued operations         (8.71)          10.76          N/M          (8.91)          10.60          N/MBasic earnings / (loss) per share$        (8.06) $        10.02          N/M $        (8.13) $        9.68          N/M            Diluted earnings / (loss) per share from continuing operations(b)$        0.32          $        (0.74) N/M $        0.47          $        (0.92) N/MDiluted earnings / (loss) per share from discontinued operations(b)         (8.40)          10.76          N/M          (8.57)          10.60          N/MDiluted earnings / (loss) per share(b)$        (8.08) $        10.02          N/M $        (8.10) $        9.68          N/M (a) Refer to Definitions and Notes for additional information.
(b) Excludes the effect of certain anti-dilutive convertible securities.
N/M = Not meaningful. N/A = Not applicable.

Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Core FFO
($ in millions, except for per share data)

 Quarter Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025 Net Income / (Loss) Attributable to SUI Common Shareholders$        (992.7) $        1,273.6          $        (1,001.4) $        1,230.8         Adjustments       Depreciation and amortization - continuing operations(a)         122.3                   117.1                   242.1                   231.3         Depreciation and amortization - discontinued operations(a)         7.0                   8.9                   17.1                   53.6         Depreciation on nonconsolidated affiliates         0.3                   0.2                   0.6                   0.4         Asset impairments - continuing operations         17.9                   33.4                   18.2                   57.4         Asset impairments - discontinued operations         —                   132.9                   —                   135.0         Loss on classification to held for sale - discontinued operations         1,077.2                   —                   1,077.2                   —         Loss on remeasurement of investment in nonconsolidated affiliates         1.7                   1.5                   1.5                   1.5         Loss on remeasurement of notes receivable         2.9                   1.4                   2.8                   1.6         Loss on dispositions of properties, including tax effect - continuing operations         22.0                   2.9                   20.9                   3.6         (Gain) / loss on dispositions of properties, including tax effect - discontinued operations         0.8                   (1,445.0)          1.7                   (1,444.7)Add: Returns on preferred OP units / equity interests         2.5                   3.1                   5.2                   6.3         Add: Income / (loss) attributable to noncontrolling interests         (34.7)          53.5                   (35.0)          51.6         Gain on disposition of assets, net - continuing operations         (3.0)          (4.1)          (4.7)          (7.7)(Gain) / loss on disposition of assets, net - discontinued operations         —                   0.1                   (0.4)          (0.2)FFO(a)(c)(d)         224.2                   179.5                   345.8                   320.5         Adjustments       Acquisition and other transaction costs - continuing operations(a)         1.7                   4.6                   3.4                   13.6         Acquisition and other transaction costs - discontinued operations         14.9                   50.5                   15.4                   65.6         Loss on extinguishment of debt         —                   102.4                   —                   102.4         Catastrophic event-related charges, net         0.8                   0.4                   1.3                   0.3         Loss of earnings - catastrophic event-related charges, net(a)         3.2                   (5.7)          6.4                   (1.7)(Gain) / loss on foreign currency exchanges - continuing operations         (13.3)          (39.4)          10.6                   (48.1)Loss on foreign currency exchanges - discontinued operations         0.1                   —                   0.7                   —         Deferred tax (benefit) / expense - continuing operations         —                   0.1                   (0.1)          —         Deferred tax (benefit) / expense - discontinued operations         (2.6)          (32.2)          3.9                   (37.3)Other adjustments, net - continuing operations         5.2                   (3.8)          13.5                   (6.7)Other adjustments, net - discontinued operations         (0.2)          (24.5)          12.2                   (9.9)Core FFO(a)(b)(c)(d)$        234.0          $        231.9          $        413.1          $        398.7                 Weighted Average Common Shares and OP Units Outstanding(a)(b)         127.0                   131.8                   127.4                   132.1         FFO per Share(a)(b)(c)$        1.77          $        1.36          $        2.71          $        2.43         Core FFO per Share(a)(b)(c)$        1.84          $        1.76          $        3.24          $        3.02          (a) Refer to Definitions and Notes for additional information.
(b) Assumes full conversion of all equity participating units, including common and preferred OP units, into the Company's common stock.
(c) FFO and Core FFO include discontinued operations activity of $17.7 million or $0.14 per Share, and $30.0 million or $0.24 per Share, respectively, during the quarter ended June 30, 2026, and $57.2 million or $0.43 per Share, and $51.1 million or $0.39 per Share, respectively, during the quarter ended June 30, 2025.
(d) FFO and Core FFO include discontinued operations activity of $3.6 million or $0.03 per Share, and $35.7 million or $0.28 per Share, respectively, during the six months ended June 30, 2026, and $84.1 million or $0.64 per Share, and $102.7 million or $0.78 per Share, respectively, during the six months ended June 30, 2025.

Reconciliation of Net income / (Loss) Attributable to SUI Common Shareholders to NOI
($ in millions)

 Quarter Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025 Net Income / (Loss) Attributable to SUI Common Shareholders$        (992.7) $        1,273.6          $        (1,001.4) $        1,230.8         Interest income         (6.2)          (16.4)          (13.4)          (20.8)Brokerage commissions and other revenues, net         (3.3)          (13.3)          (5.0)          (14.9)General and administrative         49.9                   50.6                   108.5                   97.6         Catastrophic event-related charges, net         0.8                   0.4                   1.3                   0.3         Depreciation and amortization         123.9                   117.3                   245.3                   232.0         Asset impairments         17.9                   33.4                   18.2                   57.4         Loss on extinguishment of debt         —                   102.4                   —                   102.4         Interest expense         38.1                   54.4                   76.5                   132.9         (Gain) / loss on foreign currency exchanges         (13.3)          (39.4)          10.6                   (48.1)Loss on disposition of properties         22.0                   1.3                   20.9                   2.1         Other (income) / expense, net(a)         0.1                   (6.9)          (8.4)          (12.6)Loss on remeasurement of notes receivable         2.9                   1.4                   2.8                   1.6         Income from nonconsolidated affiliates         (6.1)          (3.8)          (12.2)          (6.8)Loss on remeasurement of investment in nonconsolidated affiliates         1.7                   1.5                   1.5                   1.5         Current tax expense         0.6                   2.6                   1.5                   3.8         Deferred tax (benefit) / expense         —                   0.1                   (0.1)          —         Net (income) / loss from discontinued operations, net         1,067.2                   (1,360.3)          1,091.9                   (1,340.4)Add: Preferred return to preferred OP units / equity interests         2.5                   3.2                   5.2                   6.3         Add: Income / (loss) attributable to noncontrolling interests         (34.7)          53.5                   (35.0)          51.6         NOI$        271.3          $        255.6          $        508.7          $        476.7           Quarter Ended June 30, Six Months Ended June 30,  2026  2025  2026  2025Real property NOI(a)$        260.6         $        241.4         $        497.0         $        458.7        Home sales NOI(a)         3.3                  6.8                  4.9                  11.0        Ancillary NOI(a)         7.4                  7.4                  6.8                  7.0        NOI(a)$        271.3         $        255.6         $        508.7         $        476.7         (a) Refer to Definitions and Notes for additional information.

Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Recurring EBITDA
($ in millions)

 Quarter Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025 Net Income / (Loss) Attributable to SUI Common Shareholders$        (992.7) $        1,273.6          $        (1,001.4) $        1,230.8         Adjustments       Depreciation and amortization - continuing operations         123.9                   117.3                   245.3                   232.0         Depreciation and amortization - discontinued operations         7.8                   9.8                   18.9                   55.2         Asset impairments - continuing operations - continuing operations(a)         17.9                   33.4                   18.2                   57.4         Asset impairments - discontinued operations         —                   132.9                   —                   135.0         Loss on classification to held for sale - discontinued operations(a)         1,077.2                   —                   1,077.2                   —         Loss on extinguishment of debt         —                   102.4                   —                   102.4         Interest expense - continuing operations         38.1                   54.4                   76.5                   132.9         Interest expense - discontinued operations         0.2                   3.8                   0.2                   7.4         Current tax expense - continuing operations         0.6                   2.6                   1.5                   3.8         Current tax expense - discontinued operations         2.5                   3.8                   3.3                   4.8         Deferred tax (benefit) / expense - continuing operations         —                   0.1                   (0.1)          —         Deferred tax (benefit) / expense - discontinued operations         (2.6)          (32.2)          3.9                   (37.3)Income from nonconsolidated affiliates         (6.1)          (3.8)          (12.2)          (6.8)Less: Loss on dispositions of properties - continuing operations         22.0                   1.3                   20.9                   2.1         Less: (Gain) / loss on dispositions of properties - discontinued operations         0.8                   (1,445.0)          1.7                   (1,444.7)Less: Loss on dispositions of assets, net - continuing operations         (3.0)          (4.1)          (4.7)          (7.7)Less: (Gain) / loss on dispositions of assets, net - discontinued operations         —                   0.1                   (0.4)          (0.2)EBITDAre(a)(b)         286.6                   250.4                   448.8                   467.1         Adjustments       Transaction costs - discontinued operations(a)(c)         14.9                   48.0                   14.9                   62.6         Catastrophic event-related charges, net - continuing operations         0.8                   0.4                   1.3                   0.3         (Gain) / loss on foreign currency exchanges - continuing operations         (13.3)          (39.4)          10.6                   (48.1)Loss on foreign currency exchanges - discontinued operations(a)         0.1                   —                   0.7                   —         Other (income) / expense, net - continuing operations(a)         0.1                   (6.9)          (8.4)          (12.6)Other (income) / expense, net - discontinuing operations(a)         (0.2)          (24.8)          12.1                   (10.2)Loss on remeasurement of notes receivable         2.9                   1.4                   2.8                   1.6         Loss on remeasurement of investment in nonconsolidated affiliates         1.7                   1.5                   1.5                   1.5         Add: Preferred return to preferred OP units / equity interests         2.5                   3.2                   5.2                   6.3         Add: Income / (loss) attributable to noncontrolling interests         (34.7)          53.5                   (35.0)          51.6         Add: Gain on dispositions of assets, net - continuing operations         3.0                   4.1                   4.7                   7.7         Add: Gain / (loss) on dispositions of assets, net - discontinued operations         —                   (0.1)          0.4                   0.2         Recurring EBITDA(a)(b)$        264.4          $        291.3          $        459.6          $        528.0          (a) Refer to Definitions and Notes for additional information.
(b) EBITDAre and Recurring EBITDA include discontinued operations activity.
(c) Represents non-recurring transaction costs that are directly attributable to the Park Holidays Sale and the Safe Harbor Sale for the applicable periods.

Real Property Operations - Total Portfolio
($ in millions)

 Quarter Ended June 30, 2026 Quarter Ended June 30, 2025 MH RV Total MH RV TotalRevenues           Real property (excluding transient)(a)$        271.2  $        90.9  $        362.1  $        249.8  $        85.5          $        335.3 Real property - transient         0.2           60.4           60.6           0.2           63.4                   63.6 Total operating revenues         271.4           151.3           422.7           250.0           148.9                   398.9 Expenses           Property operating expenses         84.9           77.2           162.1           81.5           76.0                   157.5 Real Property NOI(a)$        186.5  $        74.1  $        260.6  $        168.5  $        72.9          $        241.4              Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 MH RV Total MH RV TotalRevenues           Real property (excluding transient)(a)$        540.5  $        172.2  $        712.7  $        498.6  $        159.3          $        657.9 Real property - transient         0.7           88.8           89.5           0.7           91.5                   92.2 Total operating revenues         541.2           261.0           802.2           499.3           250.8                   750.1 Expenses           Property operating expenses         169.0           136.2           305.2           158.2           133.2                   291.4 Real Property NOI$        372.2  $        124.8  $        497.0  $        341.1  $        117.6          $        458.7              As of June 30, 2026 As of June 30, 2025 MH RV Total MH RV TotalNumber of Properties         295           160           455           284           164           448 Sites           Sites(b)         100,860           32,510           133,370           97,380           32,100           129,480 Transient sitesN/A          22,760           22,760  N/A          23,440           23,440 Total         100,860           55,270           156,130           97,380           55,540           152,920 Occupancy         97.3        %          100.0        %          97.9        %          97.4        %          100.0        %          98.1        % N/A = Not applicable.
(a) Refer to Definitions and Notes for additional information.
(b) MH annual sites included 13,130 and 11,567 rental homes in the Company's rental program at June 30, 2026 and 2025, respectively. The Company's gross investment in occupied rental homes at June 30, 2026 was $979.3 million, an increase of 20.5% from $812.5 million at June 30, 2025.

Real Property Operations - Same Property Portfolio(a)
($ in millions)

 Quarter Ended June 30,  2026  2025 Total Change % Change(b) MH RV Total MH RV Total  MH RV TotalSame Property Revenues                   Real property (excluding transient)$        246.1 $        80.4 $        326.5 $        231.7 $        77.4 $        309.1 $        17.4          6.2        %         3.8        %         5.6        %Real property - transient         0.2          57.3          57.5          0.2          60.2          60.4          (2.9)         22.1        %         (4.8)        %         (4.7)        %Total Same Property operating revenues         246.3          137.7          384.0                  231.9          137.6          369.5                  14.5          6.2        %         —        %         3.9        %Same Property Expenses                   Payroll and benefits         14.6          22.5          37.1                  15.4          23.1          38.5                  (1.4)         (5.7)        %         (2.8)        %         (4.0)        %Real estate taxes         19.6          6.9          26.5                  19.1          6.8          25.9                  0.6          2.4        %         1.5        %         2.2        %Supplies and repairs         13.4          10.0          23.4                  11.8          8.8          20.6                  2.8          14.0        %         14.3        %         14.1        %Utilities         5.4          12.7          18.1                  5.3          11.8          17.1                  1.0          2.8        %         7.6        %         6.1        %Legal, state / local taxes, and insurance         6.9          2.3          9.2                  7.9          3.0          10.9                  (1.7)         (13.2)        %         (24.1)        %         (16.1)        %Other         3.1          12.2          15.3                  3.9          12.6          16.5                  (1.2)         (19.5)        %         (3.0)        %         (6.8)        %Total Same Property operating expenses(a)         63.0          66.6          129.6          63.4          66.1          129.5          0.1          (0.7)        %         0.8        %         0.1        %Real Property NOI(a)$        183.3 $        71.1 $        254.4 $        168.5 $        71.5 $        240.0 $        14.4          8.8        %         (0.7)        %         6.0        %                     Six Months Ended June 30,  2026  2025 Total Change % Change(b) MH RV Total MH RV Total  MH RV TotalSame Property Revenues                   Real property (excluding transient)$        489.1 $        151.9 $        641.0 $        459.5 $        144.7 $        604.2 $        36.8          6.4        %         5.0        %         6.1        %Real property - transient         0.7          82.9          83.6          0.7          86.3          87.0          (3.4)         4.5        %         (3.9)        %         (3.9)        %Total Same Property operating revenues         489.8          234.8          724.6                  460.2          231.0          691.2                  33.4          6.4        %         1.7        %         4.8        %Same Property Expenses                   Payroll and benefits         29.6          38.5          68.1          29.4          39.1          68.5                  (0.4)         0.8        %         (1.4)        %         (0.4)        %Real estate taxes         39.0          13.8          52.8          36.7          13.4          50.1                  2.7          6.4        %         2.5        %         5.3        %Supplies and repairs         24.7          15.9          40.6          21.2          14.2          35.4                  5.2          16.5        %         11.8        %         14.6        %Utilities         10.3          23.5          33.8          10.9          22.2          33.1                  0.7          (5.6)        %         5.8        %         2.1        %Legal, state / local taxes, and insurance         14.3          4.9          19.2          15.4          5.9          21.3                  (2.1)         (7.5)        %         (16.6)        %         (10.0)        %Other         6.0          19.6          25.6          6.4          19.9          26.3                  (0.7)         (5.2)        %         (1.4)        %         (2.3)        %Total Same Property operating expenses(a)         123.9          116.2          240.1          120.0          114.7          234.7          5.4          3.3        %         1.3        %         2.3        %Real Property NOI(a)$        365.9 $        118.6 $        484.5 $        340.2 $        116.3 $        456.5 $        28.0          7.5        %         2.0        %         6.1        % (a) Refer to Definitions and Notes for additional information.
(b) Percentages are calculated based on unrounded numbers.
Real Property Operations - Same Property Portfolio (Continued)

  As of June 30,   2026   2025   MH RV MH RVNumber of properties(a)          282                   152                   282                   152         Sites        MH and annual RV sites          97,190                   30,790                   97,070                   30,850         Transient RV sites N/A          21,240          N/A          21,440         Total          97,190                   52,030                   97,070                   52,290         MH and Annual RV Occupancy        Occupancy(b)          97.8        %          100.0        %          97.4        %          100.0        %Average monthly base rent per site $        766          $        700          $        730          $        679         % Change of monthly base rent(c)          4.9        %          3.2        % N/A N/ARental Program Statistics included in MH        Number of occupied sites, end of period(d)          12,750          N/A          11,540          N/AMonthly rent per site – MH rental program $        1,409          N/A $        1,374          N/A% Change(c)          2.5        % N/A N/A N/A N/A = Not applicable.
(a) Financial results from properties impacted by dispositions and catastrophic weather events have been removed from Same Property reporting.
(b) Same Property blended occupancy for MH and RV was 98.3% at June 30, 2026, up 30 basis points from 98.0% at June 30, 2025. Adjusting for recently delivered and vacant expansion sites, Same Property adjusted blended occupancy for MH and RV declined by 10 basis points to 98.8% at June 30, 2026, from 98.9% at June 30, 2025.
(c) Percentages are calculated based on unrounded numbers.
(d) Occupied rental program sites in Same Property are included in total sites.

Home Sales Summary
($ in millions, except for average selling price)

 Quarter Ended June 30, Six Months Ended June 30,  2026   2025  % Change  2026   2025  % ChangeFinancial Information           Home sales$        27.8          $        41.8                  (33.5)        % $        54.3          $        70.5                  (23.0)        %Home cost and selling expenses         24.5                   35.0                  (30.0)        %          49.4                   59.5                  (17.0)        %NOI(a)(b)$        3.3          $        6.8                  (51.5)        % $        4.9          $        11.0                  (55.5)        %NOI margin %(a)         11.9        %          16.3        %            9.0        %          15.6        %  Other Information           Units Sold:         326                   480                  (32.1)        %          618                   827          (25.3)        %Average Selling Price:$        85,276          $        87,083                  (2.1)        % $        87,864          $        85,248          3.1        % (a) Refer to Definitions and Notes for additional information.

Operating Statistics for MH and Annual RVs

  Resident Move-outs  Leased Sites, Net(b) New Home Sales Pre-owned Home Sales Brokered Re-sales  % of Total Sites Number of Move-outs    2026 - YTD as of June 30 5.8%(a)         5,777                 (60)         139                 479                 946        2025         6.2        %         10,179                 1,138                  354                 1,210                 1,646        2024         4.3        %         7,050                 3,209                  447                 1,554                 1,700         (a) Percentage calculated based on a trailing 12-month basis.
(b) Increase in revenue producing sites, net of new vacancies.

Acquisitions and Dispositions
($ in millions)

Property Name Segment Number of Properties Sites State, Province, or Country Total Purchase Price / Sales Proceeds MonthACQUISITIONS            First Quarter 2026            Parkhurst Estates MH         1         279 MI $        17.0         JanuaryTotal Acquisitions Year to Date           1                 279           $        17.0                       DISPOSITIONS            Second Quarter 2026            Sun Retreats Amherstberg RV         1                 299         ON $        0.1         AprilJoint Venture RV Portfolio RV         5                 945         Various          9.0         JuneTotal Dispositions to Date           6                 1,244           $        9.1           Capital Expenditures(a)
($ in millions)

    Non-Recurring Capital Expenditures  Period Recurring Capital Expenditures Lot Modifications Growth Projects Capital Improvements to Recent Acquisitions Expansion and Development Total Non-Recurring Capital Expenditures TotalSix Months Ended June 30, 2026 $        29.7         $        20.3         $        8.3         $        3.8         $        14.8         $        47.2         $        76.9        Year Ended December 31, 2025 $        55.8         $        38.8         $        12.9         $        8.3         $        66.7         $        126.7         $        182.5        Year Ended December 31, 2024 $        54.5         $        35.5         $        11.5         $        22.9         $        105.2         $        175.1         $        229.6         (a) Refer to Definitions and Notes for additional information.

Capitalization Overview
($ in millions, shares and units in thousands, except for share price)

 As of June 30, 2026 Common Equivalent Shares Share Price CapitalizationEquity and Enterprise Value     Common shares        122,507         $        119.91         $        14,689.8         Convertible securities     Common OP units        2,353         $        119.91                  282.1         Preferred OP units        2,007         $        119.91                  240.7         Diluted shares outstanding and market capitalization(a)        126,867                    15,212.6         Plus: Total debt, per condensed consolidated balance sheet             4,052.2         Total capitalization             19,264.8         Less: Cash and cash equivalents (excluding restricted cash) - continuing operations             (150.6)Less: Cash and cash equivalents (excluding restricted cash) - discontinued operations             (33.5)Enterprise Value(a)    $        19,080.7          (a)  Refer to Definitions and Notes for additional information related to the Company's securities outstanding.

(b)  

 As of June 30, 2026 Debt Outstanding Weighted Average Interest Rate(a) Weighted Average Maturity
(in years) Maturity DateSecured Debt:       Mortgage loans payable$        2,225.3                 3.62        % 8.6 VariousSecured borrowings on collateralized receivables(b)         39.2                 8.53        % 11.8 VariousTotal Secured Debt         2,264.5                 3.70        %    Unsecured Debt:       Senior Unsecured Notes:       2028 senior unsecured notes         448.4                 2.29        % 2.3 November 20282031 senior unsecured notes         744.8                 2.70        % 5.0 July 20312032 senior unsecured notes         594.5                 3.61        % 5.8 April 2032Total Unsecured Debt         1,787.7                 2.90        % 4.6  Total carrying value of debt, per condensed consolidated balance sheets         4,052.2                 3.35        % 6.9  Plus: Unamortized deferred financing costs, discounts / premiums on debt, and fair value adjustments(a)         17.9              Total debt$        4,070.1               (a)  Includes the effect of amortizing deferred financing costs, unsecured note discounts, and fair value adjustments on the Secured borrowings on collateralized receivables.
(b)  Refer to Definitions and Notes for additional information.
(c)  

Debt Maturities(a)

($ in millions)

  As of June 30, 2026Year Mortgage Loans Payable(b) Principal Amortization Secured Borrowings on Collateralized Receivables(c)(d) Senior
Unsecured Notes Total2026 $        314.1         $        17.1         $        —         $        —         $        331.2        2027          —                  34.8                  1.0                  —                  35.8        2028          175.6                  38.8                  2.2                  450.0                  666.6        2029          310.7                  38.1                  2.4                  —                  351.2        2030          7.5                  37.3                  2.6                  —                  47.4        Thereafter          807.9                  452.1                  27.9                  1,350.0                  2,637.9        Total $        1,615.8         $        618.2         $        36.1         $        1,800.0         $        4,070.1         (a) Debt maturities include the unamortized deferred financing costs, discount / premiums, and fair value adjustments associated with outstanding debt.
(b) For the Mortgage loans payable maturing between 2026 - 2030:

 2026  2027  2028  2029  2030 Weighted average interest rate        3.73        %         —        %         3.97        %         3.16        %         3.45        % (c) Balance at June 30, 2026 excludes fair value adjustments of $3.2 million.
(d) Refer to Definitions and Notes for additional information.

Debt Analysis

    As of June 30, 2026Select Credit Ratios    Net Debt / TTM Recurring EBITDA(a)   3.9 xNet Debt / Enterprise Value(a)           20.3        %Net Debt / Gross Assets(a)           26.7        %Unencumbered assets / Total assets           79.1        %Floating rate debt / Total debt   N/A(c)Coverage Ratios    TTM Recurring EBITDA(a)(b) / Interest   6.6 xTTM Recurring EBITDA(a)(b) / Interest + Preferred distributions + Preferred stock distribution   6.6 xCredit Facility Covenants(d) Requirement  Maximum leverage ratio <65.0 %         17.8        %Minimum fixed charge coverage ratio >1.40 x 5.01 xMaximum secured leverage ratio <40.0 %         9.2        %Senior Unsecured Note Covenants Requirement  Total debt / Total assets ≤60.0 %         28.4        %Secured debt / Total assets ≤40.0 %         15.8        %Consolidated income available for debt service / Debt service ≥1.50 x 7.33 xUnencumbered total asset value / Total unsecured debt ≥150.0 %         626.9        % (a) Refer to Definitions and Notes for additional information.
(b) Percentage includes the impact of hedge activities.
(c) As of June 30, 2026, the Company had no floating rate debt.
(d) As of June 30, 2026, the Company did not have any borrowings outstanding under its senior credit facility.

Definitions and Notes

Acquisition and Other Transaction Costs - In the Company's Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Core FFO on page 6, "Acquisition and other transaction costs - continuing operations" represent (a) nonrecurring integration expenses associated with acquisitions during the quarters and six months ended June 30, 2026 and 2025, (b) costs associated with potential acquisitions that will not close, (c) expenses incurred to bring recently acquired properties up to the Company's operating standards, including items such as tree trimming and painting costs that do not meet the Company's capitalization policy, and (d) other non-recurring transaction costs. Within this same reconciliation on page 6, "Acquisition and other transaction costs - discontinued operations" primarily represent non-recurring transaction costs that are directly attributable to the Park Holidays Sale and the Safe Harbor Sale and nonrecurring integration expenses associated with previous UK and marina acquisitions.

Asset Impairments - In the Company's Condensed Consolidated Statements of Operations on page 5, the Company recorded asset impairment charges of $17.9 million for the quarter ended June 30, 2026, primarily consisting of asset impairment charges of $14.1 million to reduce the carrying value of two development land parcels in the US, driven by the Company's contemplated change in strategic plan for these properties.

Assets Held for Sale and Discontinued Operations:

Park Holidays Sale - In May 2026, the Company entered into an agreement to sell Park Holidays, which represents a strategic shift in operations that is expected to have a major effect on the Company's operations and financial results. Accordingly, the results of the UK business and assets and liabilities included in the disposition are presented as held for sale and as discontinued operations for all periods presented herein. The Company expects the Park Holidays Sale to close in the second half of 2026.

As of June 30, 2026, the Company determined that the fair value of the UK business, including costs to sell, was lower than its carrying value. Accordingly, during the quarter ended June 30, 2026, the Company recorded a non-cash valuation allowance of $1.1 billion against the assets held for sale to reduce the carrying value of the UK business to the estimated fair value less costs to sell. The valuation allowance was recorded within Income / (loss) from discontinued operations, net on the Company's Condensed Consolidated Statements of Operations.

Safe Harbor Sale - In 2025, the Company entered into the Safe Harbor Sale, which represented a strategic shift in operations. Accordingly, the results of the Safe Harbor business have been reflected as discontinued operations on the Company's Condensed Consolidated Statements of Operations through the final transaction closing date of August 29, 2025.

The following table sets forth a summary of the operating results included within Income / (loss) from discontinued operations, net on the Company's Condensed Consolidated Statements of Operations (in millions):

 Quarter Ended June 30, Six Months Ended June 30,   2026   2025   2026   2025 Loss from discontinued operations, net - Park Holidays Sale$        (1,067.2) $        (62.2) $        (1,091.9) $        (63.6)Income from discontinued operations, net - Safe Harbor Sale         —                   1,422.5                   —                   1,404.0         Income / (loss) from discontinued operations, net$        (1,067.2) $        1,360.3          $        (1,091.9) $        1,340.4          The following table sets forth a summary of assets and liabilities classified as held for sale and discontinued operations related to the UK business (in millions):

 June 30, 2026 December 31, 2025Assets   Land$        1,689.3          $        1,692.7         Land improvements and buildings         613.0                   587.6         Furniture, fixtures and equipment         93.7                   95.5         Investment property         2,396.0                   2,375.8         Accumulated depreciation         (89.7)          (92.6)Investment property, net         2,306.3                   2,283.2         Cash, cash equivalents and restricted cash         33.5                   29.4         Inventory of manufactured homes         53.2                   58.2         Notes and other receivables, net         23.7                   69.2         Other intangible assets, net         61.3                   64.8         Other assets, net         45.9                   46.7         Valuation allowance to adjust assets to estimated fair value, less costs to sell         (1,077.2)          —         Assets held for sale and discontinued operations, net$        1,446.7          $        2,551.5         Liabilities   Advanced reservation deposits and rent$        103.7          $        130.0         Accrued expenses and accounts payable         69.7                   49.8         Other liabilities         255.5                   247.4         Liabilities held for sale and discontinued operations, net$        428.9          $        427.2          The following table sets forth a summary of the operating results included within Income / (loss) from discontinued operations, net on the Company's Condensed Consolidated Statements of Operations related to the UK business (in millions):

 Quarter Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025 Revenues       Real property$        53.0          $        51.3          $        90.7          $        84.5         Home sales         53.1                   58.3                   94.7                   96.8         Ancillary         17.0                   16.6                   21.8                   20.8         Interest, brokerage commissions and other, net         1.4                   1.4                   1.8                   1.5         Total Revenues         124.5                   127.6                   209.0                   203.6         Expenses       Property operating and maintenance         26.6                   26.9                   51.6                   49.1         Real estate tax         2.3                   2.2                   4.5                   4.1         Home costs and selling         37.4                   41.8                   68.7                   69.9         Ancillary         14.9                   15.4                   22.5                   22.1         General and administrative(a)         24.7                   10.6                   35.6                   20.6         Depreciation and amortization         7.8                   10.1                   18.9                   19.1         Asset impairments         —                   132.7                   —                   132.7         Interest         0.2                   3.8                   0.2                   7.4         Total Expenses         113.9                   243.5                   202.0                   325.0         Income / (Loss) Before Other Items         10.6                   (115.9)          7.0                   (121.4)Loss on disposition of properties, net         (0.8)          —                   (1.7)          (0.3)Other income / (expense), net         0.2                   25.0                   (12.1)          25.0         Loss on foreign currency exchanges         (0.1)          —                   (0.7)          —         Loss from classification to held for sale(a)         (1,077.2)          —                   (1,077.2)          —         Loss from Discontinued Operations, before income taxes         (1,067.3)          (90.9)          (1,084.7)          (96.7)Current tax expense         (2.5)          (3.5)          (3.3)          (4.2)Deferred tax benefit / (expense)         2.6                   32.2                   (3.9)          37.3         Loss from Discontinued Operations$        (1,067.2) $        (62.2) $        (1,091.9) $        (63.6) (a) Includes legal and advisory fees, employee separation costs, and other transaction costs of $78.7 million associated with the Park Holidays Sale during the quarter ended June 30, 2026; $14.9 million of which is recorded in General and administrative and $63.8 million of which is recorded in Loss from classification to held for sale within Income / (Loss) from Discontinued Operations.

Capital Expenditures - The Company classifies its investments in properties into the following categories:

Recurring Capital Expenditures - Property recurring capital expenditures are necessary to maintain asset quality, including purchasing and replacing items used to operate the communities. Recurring capital expenditures at the Company's MH and RV properties include major road, driveway and pool improvements; clubhouse renovations; adding or replacing streetlights; playground equipment; signage; maintenance facilities; manager housing and property vehicles. The minimum capitalized amount is one thousand dollars.Non-Recurring Capital Expenditures - The following investment and reinvestment activities are non-recurring in nature: Lot Modifications - consist of expenditures incurred to modify the foundational structures required to set up a new home after a previous home has been removed. These expenditures are necessary to create a revenue stream from a new site renter and often improve the quality of the community. Other lot modification expenditures include land improvements added to annual RV sites to aid in the conversion of transient RV guests to annual contracts. See page 11 for move-out rates.Growth Projects - consist of revenue-generating or expense-reducing activities at the properties. These include, but are not limited to, utility efficiency and renewable energy projects, site, or amenity upgrades, such as the addition of a garage or shed, and other special capital projects that substantiate an incremental rental increase.Capital Improvements to Recent Acquisitions - represents capital improvements identified during due diligence from the acquisition date through the third year of ownership needed to bring acquired properties up to the Company's operating standards. Capital improvements subsequent to acquisition often require 24 to 36 months to complete after closing. At MH and RV properties, capital improvements include upgrading clubhouses; landscaping; new street lighting systems; new mail delivery systems; pool renovations including larger decks, heaters and furniture; new maintenance facilities; lot modifications; and new signage including main signs and internal road signs.

Expansions and Developments - consist primarily of construction costs such as roads, activities, and amenities, and costs necessary to complete site improvements, such as driveways, sidewalks, and landscaping at the Company's MH and RV communities. Expenditures also include costs to rebuild after damage has been incurred at MH or RV properties. Cash, Cash Equivalents and Restricted Cash - Includes cash and cash equivalents of $14.6 million as of June 30, 2026, that was held in escrow accounts and restricted from general use. The restricted cash and cash equivalents include $9.7 million that has been designated to fund potential future MH and RV acquisitions under 1031 exchange transactions.

Enterprise Value - Equals total equity market capitalization, plus total indebtedness reported on the Company's balance sheet and less unrestricted cash and cash equivalents.

GAAP - U.S. Generally Accepted Accounting Principles.

Interest expense - The following is a summary of the components of the Company's interest expense (in millions):

 Quarter Ended June 30, Six Months Ended June 30,   2026   2025   2026   2025 Interest on secured debt, senior unsecured notes, and senior credit facility, net of interest rate swaps$        35.7          $        51.8          $        71.8          $        127.4         Amortization of deferred financing costs, debt (premium) / discounts, and (gains) / losses on hedges         0.8                   1.3                   1.6                   2.9         Senior credit facility commitment fees and other finance related charges         0.8                   1.6                   1.7                   3.3         Capitalized interest expense         (0.1)          (1.3)          (0.3)          (2.7)Interest expense before interest on secured borrowings         37.2                   53.4                   74.8                   130.9         Interest expense on secured borrowings on collateralized receivables         0.9                   1.0                   1.7                   2.0         Interest expense, per Condensed Consolidated Statements of Operations$        38.1          $        54.4          $        76.5          $        132.9          Loss of earnings - catastrophic event-related charges, net - include the following (in millions):

 Quarter Ended June 30, Six Months Ended June 30,   2026  2025   2026  2025 Hurricane Ian - Estimated loss of earnings in excess of the applicable business interruption deductible$        —         $        4.1          $        —         $        7.9         Hurricane Ian - Insurance recoveries realized for previously estimated loss of earnings         —                  (9.9)          —                  (9.9)Hurricane Ian - Recognition of deferred lump sum insurance settlement(1)         3.2                  —                   6.4                  —         Hurricane Helene - Estimated loss of earnings in excess of the applicable business interruption deductible, net         —                  0.1                   —                  0.3         Loss of earnings - catastrophic event-related charges, net$        3.2         $        (5.7) $        6.4         $        (1.7) (1) During the year ended December 31, 2025, the Company received a settlement of $80.2 million from an insurance provider to settle all claims related to property, casualty, flood, and business interruption insurance recoveries from Hurricane Ian. The Company concluded that $36.5 million of the total settlement pertained to business interruption recoveries through 2027, which the Company recorded as a contingent gain in accordance with ASC 450, "Contingencies." To better reflect the underlying economics of the transaction, the Company has elected to defer the business interruption recovery gain and recognize income ratably through 2027 for the Company's presentation of Core FFO.

NAREIT - The National Association of Real Estate Investment Trusts is the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate and capital markets. More information is available at www.reit.com.

Net Debt - The carrying value of debt, plus, unamortized premiums, discounts, and deferred financing costs, less unrestricted cash and cash equivalents. The following table sets forth the components of Net Debt (in millions):

 June 30, 2026 December 31, 2025Total carrying value of debt, per condensed consolidated balance sheets$        4,052.2          $        4,258.7         Plus: Unamortized deferred financing costs, discounts / premiums on debt, and fair value adjustments         17.9                   19.3         Less: Cash and cash equivalents (excluding restricted cash) - continuing operations         (150.6)          (569.6)Less: Cash and cash equivalents (excluding restricted cash) - discontinued operations         (33.5)          —         Net Debt$        3,886.0          $        3,708.4          Other adjustments, net - In the Company's Reconciliation of Net Income / (Loss) Attributable to SUI Common Shareholders to Core FFO on page 6, Other adjustments, net - continuing operations and Other adjustments, net - discontinued operations consist of the following (in millions):

 Quarter Ended June 30, Six Months Ended June 30, Other adjustments, net - continuing operations 2026   2025   2026   2025 Contingent consideration gains$        —          $        —          $        —          $        (6.0)Gain on insurance recovery         —                   —                   (6.7)          —         Cash flow hedge gains from debt extinguishments         —                   (7.4)          (1.7)          (7.4)Severance costs         (0.7)          0.2                   4.4                   0.4         Accelerated deferred compensation amortization         4.9                   0.8                   13.8                   2.0         ERP implementation expense         0.7                   0.8                   1.5                   1.8         Other         0.3                   1.8                   2.2                   2.5         Other adjustments, net - continuing operations$        5.2          $        (3.8) $        13.5          $        (6.7)  Quarter Ended June 30, Six Months Ended June 30,Other adjustments, net - discontinued operations 2026   2025   2026  2025 Long term lease termination (gains) / losses$        (0.2) $        (25.7) $        12.2         $        (25.7)Contingent consideration expense         —                   1.0                   —                  15.5         Other         —                   0.2                   —                  0.3         Other adjustments, net - discontinued operations$        (0.2) $        (24.5) $        12.2         $        (9.9) Other income / (expense), net - In the Company's Condensed Consolidated Statements of Operations on page 5, Other income / (expense), net consists of the following (in millions):

 Quarter Ended June 30, Six Months Ended June 30,   2026   2025   2026   2025 Contingent consideration gains$        —          $        —          $        —          $        6.0         Gain on insurance recovery         —                   —                   6.7                   —         Cash flow hedge gains from debt extinguishments         —                   7.4                   1.7                   7.4         Repair reserve on repossessed homes         (0.2)          (0.5)          0.1                   (0.6)Loss on remeasurement of collateralized receivables         (0.6)          (0.5)          (0.6)          (0.5)Gain on remeasurement of secured borrowings on collateralized receivables         0.6                   0.5                   0.6                   0.5         Other         0.1                   —                   (0.1)          (0.2)Other income / (expense), net$        (0.1) $        6.9          $        8.4          $        12.6          Safe Harbor Sale - The Company's sale of Safe Harbor Marinas, LLC in 2025.

Same Property - The Company defines Same Properties as those the Company has owned and operated continuously since at least January 1, 2025. Same properties exclude ground-up development properties, acquired properties, properties classified as discontinued operations, properties impacted by catastrophic weather events, and properties sold after December 31, 2024. The Same Property data may change from time-to-time depending on acquisitions, dispositions, management discretion, significant transactions, or unique situations.

Secured borrowings on collateralized receivables - This is a transferred asset transaction which has been classified as collateralized receivables and the cash received from this transaction has been classified as secured borrowings. The interest income and interest expense accrue in equal amounts. The Company has elected to record the collateralized receivables and secured borrowings at fair value under ASC 820, "Fair Value Measurements." As a result, the balance of collateralized receivables and related secured borrowings are net of fair value adjustments.

Securities - The Company had the following securities outstanding as of June 30, 2026:

 Number of Units / Shares Outstanding (in thousands) Conversion Rate(a) If Converted to
Common shares (in thousands)(b) Issuance Price
Per Unit Annual Distribution RateNon-Convertible Securities         Common shares        122,507         N/A N/A N/A $4.48(c)Convertible Securities Classified as Equity         Common OP units        2,353                 1.0000                 2,353         N/A $4.48(c)Preferred OP Units         Series A-1        154                 2.4390                 376         $        100.00                 6.00        %Series A-3        40                 1.8605                 75         $        100.00                 4.50        %Series C        292                 1.1100                 324         $        100.00                 5.00        %Series D        489                 0.8000                 391         $        100.00                 4.00        %Series E        80                 0.6897                 55         $        100.00                 5.50        %Series F        20                 0.6250                 12         $        100.00                 3.00        %Series G        5                 0.6452                 3         $        100.00                 3.20        %Series H        47                 0.6098                 29         $        100.00                 3.00        %Series J        232                 0.6061                 141         $        100.00                 2.85        %Series K        1,000                 0.5882                 588         $        100.00                 4.00        %Series L        20                 0.6250                 13         $        100.00                 3.50        %Total        2,379                   2,007            Total Convertible Securities Outstanding        4,732                   4,360             (a) Exchange rates are subject to adjustment upon stock splits, recapitalizations, and similar events. The exchange rates of certain series of OP units are approximated to four decimal places.
(b) Calculation may yield minor differences due to fractional shares paid in cash to the shareholder at conversion.
(c) Annual distribution is based on the last quarterly distribution annualized.

Share - In addition to reporting net income on a diluted basis ("EPS"), the Company reports FFO and Core FFO on a per common share and convertible securities basis (per "Share"). For the periods presented below, the Company's diluted weighted average common shares outstanding for EPS and FFO are as follows:

 Quarter Ended June 30, Six Months Ended June 30,  2026 2025 2026 2025Diluted Weighted Average Common Shares Outstanding - EPS       Weighted average common shares outstanding - Basic        122.5                 126.4                 122.6                 126.5        Dilutive restricted stock        0.1                 —                 0.2                 —        Common and preferred OP units dilutive effect        4.4                 —                 4.6                 —        Weighted Average Common Shares Outstanding - Diluted        127.0                 126.4                 127.4                 126.5        Diluted Weighted Average Common Shares Outstanding - FFO       Weighted average common shares outstanding - Basic        122.5                 126.4                 122.6                 126.5        Restricted stock        0.1                 0.2                 0.2                 0.3        Common OP units        2.4                 2.8                 2.5                 2.9        Common stock issuable upon conversion of certain preferred OP units        2.0                 2.4                 2.1                 2.4        Weighted Average Common Shares and OP Units Outstanding        127.0                 131.8                 127.4                 132.1         Utility Revenues - In its Condensed Consolidated Statements of Operations and its total portfolio presentation of real property operating results, the Company includes the following utility reimbursement revenues in real property revenues (excluding transient) (in millions):

 Quarter Ended June 30, Six Months Ended June 30, Consolidated Portfolio 2026  2025  2026  2025Utility reimbursement revenues       MH$        19.6         $        17.6         $        40.8         $        37.2        RV         5.4                  5.4                  10.2                  9.7        Total$        25.0         $        23.0         $        51.0         $        46.9         For its presentation of Same Property results on page 10, the Company nets the following utility revenues (which include utility reimbursement revenues from residents) against related utility expenses in Same Property operating expenses (in millions):

 Quarter Ended June 30, Six Months Ended June 30, Same Property Portfolio 2026  2025  2026  2025Utility revenues netted against related utility expenses       MH$        19.2         $        17.6         $        40.0         $        37.1        RV         5.4                  5.3                  10.0                  9.6        Total$        24.6         $        22.9         $        50.0         $        46.7         Non-GAAP Supplemental Measures

Investors and analysts following the real estate industry use non-GAAP supplemental performance measures, including net operating income ("NOI"), earnings before interest, tax, depreciation, and amortization ("EBITDA") and funds from operations ("FFO") to assess REITs. The Company believes that NOI, EBITDA, and FFO are appropriate measures given their wide use by and relevance to investors and analysts. Additionally, NOI, EBITDA, and FFO are commonly used in various ratios, pricing multiples, yields and returns and valuation calculations used to measure financial position, performance, and value.

NOI provides a measure of rental operations and does not factor in depreciation, amortization and non-property specific expenses such as general and administrative expenses.

EBITDA provides a further measure to evaluate the Company's ability to incur and service debt; EBITDA also provides further measures to evaluate the Company's ability to fund dividends and other cash needs. FFO, reflecting the assumption that real estate values rise or fall with market conditions, principally adjusts for the effects of GAAP depreciation and amortization of real estate assets.

Net Operating Income ("NOI") Total Portfolio NOI - NOI is derived from property operating revenues minus property operating expenses and real estate taxes. NOI is a non-GAAP financial measure that the Company believes is helpful to investors as a supplemental measure of operating performance because it is an indicator of the return on property investment and provides a method of comparing property performance over time. The Company uses NOI as a key measure when evaluating performance and growth of particular properties and / or groups of properties. The principal limitation of NOI is that it excludes depreciation, amortization, interest expense, and non-property specific expenses such as general and administrative expenses, all of which are significant costs. Therefore, NOI is a measure of the operating performance of the properties of the Company rather than of the Company overall. The Company believes that NOI provides enhanced comparability for investor evaluation of property performance and growth over time. The Company believes that GAAP net income (loss) is the most directly comparable measure to NOI. NOI should not be considered to be an alternative to GAAP net income (loss) as an indication of the Company's financial performance or GAAP net cash provided by operating activities as a measure of the Company's liquidity; nor is it indicative of funds available for the Company's cash needs, including its ability to make cash distributions. Because of the inclusion of items such as interest, depreciation, and amortization, the use of GAAP net income (loss) as a performance measure is limited as these items may not accurately reflect the actual change in market value of a property, in the case of depreciation and in the case of interest, may not necessarily be linked to the operating performance of a real estate asset, as it is often incurred at a parent company level and not at a property level.

Same Property NOI - This is a key management tool used when evaluating performance and growth of the Company's Same Property portfolio. Same Property NOI does not include the revenues and expenses related to home sales and ancillary activities at the properties. The Company believes that Same Property NOI is helpful to investors as a supplemental comparative performance measure of the income generated from the Same Property portfolio from one period to the next. Earnings before interest, tax, depreciation and amortization ("EBITDA") EBITDAre - Nareit refers to EBITDA as "EBITDAre" and calculates it as GAAP net income (loss), plus interest expense, plus income tax expense, plus depreciation and amortization, plus or minus losses or gains on the disposition of depreciated property (including losses or gains on change of control), plus impairment write-downs of depreciated property and of investments in nonconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate, and adjustments to reflect the entity's share of EBITDAre of nonconsolidated affiliates. EBITDAre is a non-GAAP financial measure that the Company uses to evaluate its ability to incur and service debt, fund dividends and other cash needs, and cover fixed costs. Investors utilize EBITDAre as a supplemental measure to evaluate and compare investment quality and enterprise value of REITs.Recurring EBITDA - The Company also uses EBITDAre excluding certain gain and loss items that management considers unrelated to measurement of the Company's performance on a basis that is independent of capital structure ("Recurring EBITDA"). The Company believes that GAAP net income (loss) is the most directly comparable measure to EBITDAre. EBITDAre is not intended to be used as a measure of the Company's cash generated by operations or its dividend-paying capacity, and should therefore not replace GAAP net income (loss) as an indication of the Company's financial performance or GAAP cash flow provided by / used for operating, investing, and financing activities as measures of liquidity. Funds from Operations ("FFO") FFO - Nareit defines FFO as GAAP net income (loss), excluding gains (or losses) from sales of certain real estate assets, real estate related depreciation and amortization, gains (or losses) from change in control, impairments of certain real estate assets and investments, and adjustments for nonconsolidated partnerships and joint ventures. FFO is a non-GAAP financial measure that management believes is a useful supplemental measure of the Company's operating performance. By excluding gains and losses related to sales of previously depreciated operating real estate assets, real estate related impairment, and real estate asset depreciation and amortization (which can vary among owners of identical assets in similar condition based on historical cost accounting and useful life estimates), FFO provides a performance measure that, when compared period-over-period, reflects the impact to operations from trends in occupancy rates, rental rates and operating costs, providing perspective not readily apparent from GAAP net income (loss). Management believes the use of FFO has been beneficial in improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful.Core FFO - In addition to FFO, the Company uses FFO excluding certain gain and loss items that management considers unrelated to the operational and financial performance of the Company's core business ("Core FFO") to evaluate our performance. These adjustments include acquisition and other transaction costs, gains and losses from the early extinguishment of debt, costs related to catastrophic weather events, net of insurance recoveries, gains and losses on foreign currency exchanges, and other miscellaneous non-comparable items, such as restructuring costs. The Company believes that FFO and Core FFO provide enhanced comparability for investor evaluations of period-over-period results. The Company believes that GAAP net income (loss) is the most directly comparable measure to FFO. The principal limitation of FFO is that it does not replace GAAP net income (loss) as a financial performance measure or GAAP cash flow from operating activities as a measure of the Company's liquidity. Because FFO excludes significant economic components of GAAP net income (loss) including depreciation and amortization, FFO should be used as a supplement to GAAP net income (loss) and not as an alternative to it. Furthermore, FFO is not intended as a measure of a REIT's ability to meet debt principal repayments and other cash requirements, nor as a measure of working capital. FFO is calculated in accordance with the Company's interpretation of standards established by Nareit, which may not be comparable to FFO reported by other REITs that interpret the Nareit definition differently. Certain financial information has been revised to reflect reclassifications in prior periods to conform to current period presentation.

SUI 2Q 2026 Press Release and Supplemental

WAYZATA, Minn.--(BUSINESS WIRE)--Sui Group Holdings Limited (NASDAQ: SUIG) (“SUI Group,” “SUIG” or the “Company”), today announced that it will host a conference call on Thursday, August 6, 2026, at 5:00 p.m. Eastern Time to discuss its financial and operating results for the second quarter ended June 30, 2026. The Company plans to release its financial results in a press release prior to the call. SUI Group's executive team will host the conference call, followed by a question-and-answer perio.

California Public Employees Retirement System cut its stake in Sun Communities, Inc. (NYSE:SUI – Free Report) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,182 shares of the real estate investment trust’s stock after selling 24,801 shares during the period. California Public Employees Retirement System owned 0.21% of Sun Communities worth $32,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Sun Communities during the fourth quarter worth $753,364,000. Wellington Management Group LLP boosted its holdings in Sun Communities by 1,224.1% in the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock valued at $578,668,000 after acquiring an additional 4,147,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sun Communities by 37,933.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust’s stock worth $182,663,000 after purchasing an additional 1,470,286 shares during the period. M&T Bank Corp increased its position in Sun Communities by 20,348.9% in the fourth quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust’s stock worth $61,749,000 after purchasing an additional 495,902 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in Sun Communities by 152.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 767,190 shares of the real estate investment trust’s stock worth $95,063,000 after purchasing an additional 463,312 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets A number of research analysts have issued reports on SUI shares. Truist Financial cut their target price on shares of Sun Communities from $141.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Weiss Ratings downgraded shares of Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a report on Thursday, May 14th. Wells Fargo & Company dropped their target price on shares of Sun Communities from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Finally, Mizuho cut their price target on Sun Communities from $143.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.05.

Get Our Latest Stock Report on Sun Communities

Sun Communities Stock Down 1.0% Shares of NYSE SUI opened at $119.04 on Wednesday. Sun Communities, Inc. has a 52-week low of $115.53 and a 52-week high of $137.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a market cap of $14.67 billion, a P/E ratio of 10.81, a P/E/G ratio of 3.97 and a beta of 0.79. The firm has a 50 day moving average price of $122.13 and a 200 day moving average price of $126.48.

Sun Communities (NYSE:SUI – Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The business had revenue of $500.50 million for the quarter, compared to analyst estimates of $472.40 million. During the same period in the previous year, the business posted $1.26 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. Analysts expect that Sun Communities, Inc. will post 6.9 EPS for the current year.

Sun Communities Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s payout ratio is 40.69%.

Insider Activity at Sun Communities In related news, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares of the company’s stock, valued at approximately $1,244,051.14. This represents a 70.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the sale, the director owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.58% of the stock is currently owned by insiders.

About Sun Communities (Free Report)

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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SummaryManufactured housing REITs remain highly attractive.High yield can hide higher risk.Quality, balance sheet, and valuation matter most.High Yield Landlord members get exclusive access to our real-world portfolio. See all our investments here » Kenishirotie/iStock via Getty Images

Manufactured housing is one of my favorite property sectors to invest in because it enjoys many advantages when compared to other more traditional properties:

Low Capex: As the landlord, you typically own only the land and69.71K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SUI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Sun Communities, Inc. (NYSE: SUI) breached their fiduciary duties to shareholders.

If you currently own Sun Communities stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

Why Your Participation Matters:

Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
Halper Sadeh LLC
One World Trade Center
85th Floor
New York, NY 10007
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
[email protected]
[email protected]
https://www.halpersadeh.com

SOURCE Halper Sadeh LLP

WAYZATA, Minn.--(BUSINESS WIRE)--SUI Group Holdings Limited (NASDAQ: SUIG) (“SUI Group,” “SUIG” or the “Company”), today announced an expansion of its strategic lending partnership with Bluefin, the leading decentralized exchange on the Sui blockchain. Under an amended and restated digital currency loan agreement, SUI Group will lend an additional 4 million SUI to Bluefin, bringing total SUI on loan to 6 million. SUI Group will also increase its revenue share to 11.00%, payable in SUI, up from.

DETROIT--(BUSINESS WIRE)--The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of Michigan has approved the following announcement of a proposed class action settlement that would benefit purchasers of Sun Communities, Inc. publicly-traded common stock (NYSE: SUI):

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MICHIGAN

  MICHELLE NELSON, Individually and on
Behalf of All Others Similarly Situated,

CASE NO. 2:24-cv-13314-LVP-EAS

Plaintiff,

CLASS ACTION

v.

SUN COMMUNITIES, INC., GARY A.

SCHIFFMAN, JOHN BANDINI MCLAREN,

KAREN J. DEARING, and FERNANDO

CASTRO-CARATINI,

Defendants.

SUMMARY NOTICE OF PENDENCY AND
PROPOSED CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO PURCHASED THE PUBLICLY-TRADED COMMON STOCK OF SUN COMMUNITIES, INC. (“SUN”) BETWEEN FEBRUARY 28, 2019 AND SEPTEMBER 24, 2024, BOTH DATES INCLUSIVE (“SETTLEMENT CLASS”).

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of Michigan, that a hearing (the “Settlement Hearing”) will be held on July 29, 2026 at 10:30 a.m. before the Honorable Linda V. Parker, United States District Court for the Eastern District of Michigan, 231 W. Lafayette Blvd., Room 206, Detroit, MI 48226, for the purpose of determining whether: (1) the proposed Settlement of the claims in the above-captioned action (the “Action”) for consideration including the sum of $2,300,000.00 should be approved by the Court as fair, reasonable, and adequate; (2) the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) the application of Lead Counsel for an award of attorneys’ fees of up to one-third plus interest of the Settlement Amount, reimbursement of expenses of not more than $55,000, and awards of up to $3,500 to Lead Plaintiff and $2,500 to Plaintiff Nelson should be approved; (4) for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class; and (5) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated April 3, 2026 (the “Stipulation”). The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.

If you purchased the publicly-traded common stock of Sun during the period between February 28, 2019 and September 24, 2024, both dates inclusive, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in publicly-traded Sun common stock. If you need assistance obtaining a Notice of Pendency and Proposed Settlement of Class Action (“Long Notice”) and a copy of the Proof of Claim and Release Form (“Claim Form”), you may write to, call, or contact the Claims Administrator: Sun Communities, Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063; (Toll-Free) (866) 274-4004; (Fax) (610) 565-7985; [email protected]. You can also download copies of the Long Notice and submit your Claim Form online at www.strategicclaims.net/SunCommunities/. If you are a member of the Settlement Class, to share in the distribution of the Net Settlement Fund, you must submit a Claim Form electronically or postmarked no later than July 1, 2026 to the Claims Administrator, establishing that you are entitled to share in the recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action, whether or not you make a claim.

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than July 1, 2026, in the manner and form explained in the Long Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Stipulation.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiffs must be in the manner and form explained in the Long Notice and received no later than July 1, 2026, by each of the following:

If you have any questions about the Settlement, you may call or write to Lead Counsel:

Jonathan R. Horne
THE ROSEN LAW FIRM, P.A.
275 Madison Ave, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
[email protected]

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Posted by Defense World Staff on Apr 19th, 2026

Massachusetts Financial Services Co. MA trimmed its position in Sun Communities, Inc. (NYSE:SUI – Free Report) by 99.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,322 shares of the real estate investment trust’s stock after selling 613,049 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Sun Communities were worth $288,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sun Communities by 1,226.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 184 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in Sun Communities in the 3rd quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in Sun Communities in the 3rd quarter worth about $27,000. Global X Japan Co. Ltd. purchased a new position in Sun Communities in the 4th quarter worth approximately $33,000. Finally, Assetmark Inc. lifted its stake in Sun Communities by 55.7% in the 3rd quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 97 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In SUI has been the topic of a number of research reports. Wells Fargo & Company raised shares of Sun Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $133.00 to $150.00 in a research note on Friday, February 27th. Zelman & Associates initiated coverage on shares of Sun Communities in a research note on Monday, March 16th. They issued an “outperform” rating and a $127.75 target price on the stock. Mizuho initiated coverage on shares of Sun Communities in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $143.00 target price on the stock. Weiss Ratings raised shares of Sun Communities from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Sun Communities from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.73.

Read Our Latest Stock Report on SUI

Sun Communities Stock Up 1.7% SUI stock opened at $130.44 on Friday. The firm has a market cap of $16.07 billion, a PE ratio of 12.15, a PEG ratio of 4.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.43 and a current ratio of 4.43. The firm’s 50 day moving average price is $131.03 and its 200-day moving average price is $127.32. Sun Communities, Inc. has a one year low of $115.53 and a one year high of $137.85.

Sun Communities (NYSE:SUI – Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. The firm had revenue of $515.20 million for the quarter, compared to analyst estimates of $509.40 million. Sun Communities had a net margin of 61.86% and a negative return on equity of 0.04%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. Sun Communities has set its FY 2026 guidance at 6.830-7.030 EPS and its Q1 2026 guidance at 1.240-1.320 EPS. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, March 31st. This is a boost from Sun Communities’s previous quarterly dividend of $1.04. Sun Communities’s dividend payout ratio is presently 41.71%.

Insider Activity at Sun Communities In other news, Director Clunet R. Lewis sold 3,200 shares of Sun Communities stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $136.15, for a total transaction of $435,680.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.58% of the company’s stock.

Sun Communities Company Profile (Free Report)

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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Sun Communities, Inc. (SUI) Q1 2026 Earnings Call Transcript

WAYZATA, Minn.--(BUSINESS WIRE)--Sui Group Holdings Limited (NASDAQ: SUIG) (“SUI Group,” “SUIG” or the “Company”) today announced its financial and operating results for the first quarter ended March 31, 2026, along with an update on its SUI treasury strategy. “We believe Sui is emerging as a foundational layer for the next generation of digital infrastructure, where finance, commerce, and intelligent systems increasingly converge,” said Stephen Mackintosh, Chief Investment Officer of SUI Group.

WAYZATA, Minn.--(BUSINESS WIRE)--SUI Group Holdings Limited (NASDAQ: SUIG) (“SUI Group” or the “Company”), today announced it has co-led with Karatage Opportunities a $15 million funding round for Nof1, a world-class AI research lab training frontier models focused on financial markets, SUI Group has also made a strategic investment in Recursive Superintelligence's recent $650 million funding round, an AI research company building self-improving AI systems, valued at more than $4 billion. Sui G.