gary shiffman sun communities email addressgary shiffman sun communities email address

But in the effort of being totally transparent of where our costs have gone to, that's what is included in our guidance. Thank you for your participation in today's conference. There are 4 older and 13 younger executives at Sun Communities. As a reminder, our guidance includes acquisitions, dispositions and capital markets activity through February 22, 2023, and the effect of a property disposition under contract expected to close in March 2023. It tracks over a 30-year period of time that will go up and down a little bit, so we don't see that as anything negative whatsoever. View detailed SUI description & address. Team Members. Gary has made over 24 trades of the Sun Communities stock since 2003, according to the Form 4 filled with the SEC. Company profile for Sun Communities Inc. including key executives, insider trading, ownership, revenue and average growth rates. Executive Summary. I guess maybe for Gary, just on the home sales in general, whether it's U.S., U.K., are you seeing anything by region, by product type, by price point? Gary Shiffman About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form. So, we have a stringent policy there. Thank you. We did over since December of 2021 about 850 of treasury locks and swaps. So really, in summary, our strategy is well balanced, we believe, across all stakeholders, including our residents that live in well-maintained communities and create value in their homes. Mr Shiffman has over 30 years' experience in executive and non-executive roles in financial and real estate public companies listed on the NYSE and NASDAQ. Regarding average rental rate increases, we reiterate the guidance ranges provided back in October. Comment * So really, really strong demand. As we've shared before, I think folks have heard me say it 100 times is that the most expensive site we have in our portfolio is a vacant one. Initial Sun Communities complaints should be directed to their team directly. That 90% is ahead of the same time last year and the previous years. So, I'm guessing, can you just walk us through why you allowed floating-rate debt to increase during the fourth quarter and refinance it post quarter? (248) 208-2500 Phone (HQ) @suncommunities.com Email @gmail.com Email 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States Office Address (HQ) Reveal for Free Work Biography for Gary Shiffman, Sun Communities First, how much pushback do you guys get on rate increases across your segments given the elevated increases? Over the last 20 years, insiders at Sun Communities have traded over $67,900,866 worth of Sun Communities stock and bought 1,365,690 units worth $164,659,142 We expect total real property NOI to increase between 4.5% and 5.7% during 2023 due to strong resident, guest and member demand at our properties. The CEO of Sun Communities is Gary Shiffman. Career & Education - Company, University, & College Gary attended Michigan State University. As the Chairman of the Board of Sun Communities, the total compensation of Gary Shiffman at Sun Communities is $7,969,260. About Us. We're not going to reflect that different than our competitors and other asset classes. And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. Those would be the primary reasons from that perspective. Sun Communities raise the rent and by Sun Communities raise the rent by 4.5% every year until it become unaffordable living in one of their 55 y/old trailer park. Sun Communities, Inc. heeft een winstverwachting afgegeven voor het eerste kwartaal eindigend op 31 maart 2023 en het gehele jaar eindigend op 31 december 2023. There is a fair amount of competition out there and some discounting that's taking place outside of the Park Holidays and the more inferior properties, but I think it's driving people to expect quality at Park Holidays. So, paying down variable debt is probably something that allows us greater opportunity to create growth in the future or if there's something very accretive, we would look at that as well. ComplaintsBoard.com is a leading complaint resolution website on the Internet. So, that doesn't reflect market prices to 15%? So, seeing the demand, where it is now, is very encouraging for us. There is nothing identified yet or nothing that is meaningful. To write a complaint about Sun Communities and get an answer from the officials of Sun Communities, Complaintsboard.com's objective complaint writing and answer providing system can be used. Our U.K. operations are included in our guidance for total NOI. | 1 maart 2023 Key Principal: Gary A Shiffman See more contacts Industry: Real estate investment trusts , Mobile homes Printer Friendly View Address: 27777 Franklin Rd Ste 200 Southfield, MI, 48034-8205 United States See other locations Phone: Website: www.suncommunities.com Employees (this site): Modelled Employees (all sites): Actual Revenue: $2.27 billion million verified professionals across 35 million companies. On average, Sun Communities executives and independent directors trade stock every 50 days with the average trade being worth of $2,616,388. The waitlist, we're now -- we now have a waitlist at 91% of our marinas. I guess just one for Fernando on the balance sheet. For 25-plus years, we've delivered positive revenue and NOI growth every year when others have seen ups and downs. Get contact details including emails and phone numbers . This creates a very sticky customer base and gives us the ability to grow rents. Every home they own was meant for demolition. Explore this wiki for details such as Sun Communities CEO email, Gary Shiffman net worth, and Sun Communities net worth. We were expecting about a 90-basis point increase year-over-year in revenue from transient RV. And I think this is where when I referred to the fact we're seeing the reality of what's out there overall. Thank you. The show will focus on global macro issues with a middle eastern context, provide expert analysis of major market moving stories and speak with the biggest newsmakers in the region. A follow-up question on insurance. Gary's mailing address filed with the SEC is 27777 FRANKLIN ROAD, SUITE 300, SOUTHFIELD, MI, 48034. And we expect about 60% of these revenue-producing sites to come from RV transient site conversions to annual leases. Similar Profiles. . The proceeds were used to repay amounts on our revolving credit facility. Sun Communities competes in Real estate investment trust industry. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 10 free leads on us . And would you expect your volume of acquisitions in 2023 to be lower or higher than 2022? Do you have a preference from proceeds, whether it's to pay down variable-rate debt or to recycle or to buy assets? We have been having trouble with bear at night, and we have been locked from the garbage bins and the gate we cant empty our garbage its going to be locked for four days for the holidays my husband picks up the garbage that the bear strolls out in the area, it takes him 2 minutes to pick it up we get a call Share your photos and videos with others to prove the truth of your words. And third, of course, is that difficult economies often turn up opportunities, and we are looking at a number of opportunities from all of the different platforms. Sun Communities, inc ( SUI -0.28%) Q2 2021 Earnings Call. SEC Form 4 FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIPFiled pursuant to Section 16(a) of the Securities Exchange Act . If you're not automatically redirected, please click here. Please go ahead. When was your -- when did your insurance renewal take place? Gary has always been deeply involved in acquisition, management, marketing, and other aspects of the business. We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. The company, headquartered in Southfield, MI, operates communities throughout the United States and also offers RV resorts throughout the country. Gary Shiffman Chairman & Chief Executive Officer Sun Communities, Inc. Gary A. Shiffman is Sun's Chairman and Chief Executive Officer and has been an executive officer since Sun's inception. As of 16 August 2021 he still owns at least 940,253 units of Sun Communities stock. As we look at our -- as we look strategically at the portfolio, and Gary mentioned in his remarks, right, we can -- we look at our investment program and ground-up development and expansion, we will be able to practically self-fund our investment activity in 2023, are selectively looking at opportunities on the capital recycling front, there's a couple of assets here and there, that over time can also reduce variable-rate debt. The U.K. market for holiday parks remains highly fragmented. Or has something kind of shifted in the model a bit? I think everything is under review. And then, on the U.K., it looked like MH occupancy was down almost 300 basis points in the fourth quarter. So, it's more back to normal, I think. But it is interesting, as John pointed out, we've seen some higher growth on the higher end of what they referred to as the lodges. So that was the remaining item from that perspective, and we did realize a larger-than-expected increase for 2023. But I believe in these periods of times, as I said before, as people have to refinance things at a whole new rate in a whole new world, opportunities may become available there that are accretive across our current cost of capital. She joined us in 1998 as a Director of . (business & personal). We can follow up, that's a very quick follow-up with you after the call. And I would just emphasize the point that Gary made in his answer, which is that this has a lot more to do with what events are taking place across the world, okay? Since we achieved an investment-grade rating in 2021, we have now issued $2.2 billion of unsecured fixed-rate notes across four tranches. Thank you, everybody. Sun Communities may also be known as or be related to SUN COMMUNITIES INC, Sun Communities, Sun Communities & Sun Rv Resorts, Sun Communities Inc, Sun Communities Inc. and Sun Communities, Inc. Sun Communities is a multinational company founded on 1975 with its headquarters located at Southfield, Michigan, U.S. and key people behind it being Gary A. Shiffman, Chairman & CEO, John B. McLaren, COO and Karen J. Dearing, CFO. Please go ahead. Sun recently set a target to achieve carbon neutrality by 2035 and net-zero emissions by 2045. I think it clearly reflects a capital reinvestment that we've shared with our stakeholders before, that if we don't reinvest in our communities, we do strip the equity right out from underneath the homeowners. The chart below shows insider transactions (by companies and individuals) over the last year. So, on behalf of the entire company, from the communities on up to senior management and executive team, I do want to extend our appreciation to John. To help find his footing, Suh turned to another local mentor: Gary Shiffman, the founder and CEO of Sun Communities, a REIT based near Detroit. So, ex that drag, is the expense growth 6% to 7% and matching kind of like the top-line growth? Use this comments board to leave complaints and reviews about Sun Communities. (Podcast), Chairman/President/CEO, Sun Communities Inc. Thank you. I feel like throughout the fall, the messaging on the rate growth you were sending out was going to line up with expense growth. What were they on the marina side, Fernando? Turning to guidance for 2023. And then, taking a step back, so if we think about your -- both your real property, excluding transient and transient on a like-for-like basis, if we exclude your transient conversion expectations for '23, where would the numbers shake out, both on excluding transient, then transient as a whole, right? Thanks. As we know, that can go up and down. We're very pleased with the performance of all. It has accretiveness and embedded growth where we can justify deploying capital in this environment and deliver the kind of growth our stakeholders are used to. Factors and risks that could cause actual results to differ materially from expectations are detailed in yesterday's press release and, from time to time, in the company's periodic filings with the SEC. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. And as we spoke earlier, we're intentionally shifting a value proposition that will support continued rental increases by offering memberships, the other lower-margin attributes such as fuel, such as discounted transient stays when there's open sites or slips available and other membership opportunities. Sun Communities has 3,146 employees, of which 5 are in a leadership position. He has overseen the acquisition, rezoning, development and marketing of numerous manufactured home expansion projects, as well as other types of income producing real estate. Maybe a follow-up on that in terms of the development sites. We believe our guidance reflects the current interest rate outlook at the time of this call and is informed by forward interest rate curves as of the time of providing our guidance. I live the valley in Apopka fl 55+ community. I think that absolutely does have bearing on how we think about things and how we look at things. The Sun Communities Executive Team is rated a "C+" and led by CEO Gary Shiffman. Up to 5 Required fields are marked *. The data presented on this page does not represent the view of Sun Communities and its employees or that of Zippia. We have increased rents throughout economic cycles, and our strong results for 2022 and outlook for Same Property NOI growth in 2023 demonstrates the benefits of operating in segments where supply is perpetually constrained and demand is resilient. We have two property management companies competing in one community. 1981: Shiffman retires from his medical practice to concentrate fully on his growing company. Thanks for that. But certainly, as we look out at expectations from a market perspective, there's potential for 2023 to set baseline as far as interest expense and then that either becomes neutral or a tailwind heading into future years. His association with Sun Communities goes back to its inception. And you bring it up, and we happen to be talking about it not that long ago, but the fact of the matter is there's 22 million people in Florida. I know it's obviously the low demand time of year, but any color on what happened year-to-date in the forward bookings would be great. Today, we stand at about 16% floating-rate debt. Live from Dubai, connecting Asian markets to the European opens. With Shiffman's guidance, he began building. How are you guys thinking about that? Total Compensation for Fiscal Year Ending in 2021: $ . Pro forma for this activity, our floating-rate debt was reduced to 16% of total debt, which has now decreased from 26% as of December 31, 2020. Last updated 24 days ago. Got it. Gary Shiffman . 4.9% growth in revenues reflected a 5% increase in weighted average monthly rent and a 180-basis point occupancy gain. The company's filing status is listed as Appointed 08/05/2005 and its File Number is F08203384. Our next question is from the line of Keegan Carl with Wolfe Research. Sun Communities CEO Gary Shiffman believes that clients and employees are the greatest assets of a company. Sun Communities said the purchase diversifies its geographic and demographic footprint. The most recent stock trade was executed by Clunet R Lewis on 27 February 2023, trading 1,500 units of SUI stock currently worth $222,765. But that being said, we can't underscore the fact that with this increased cost, as Fernando mentioned of $18 million, we're still seeing at Same Property growth of 5.4% at the midpoint. Main Telephone (248) 208-2500 Primary Address 27777 Franklin Road Suite 200 Southfield, MI 48034 USA We've also taken advantage of the fact that our assets that are still under secured financing or still have mortgages, because of their strong performance, we're able to borrow up on existing financings and did a $311 million one that closed between December and January over the course of the last couple of months. Reason #2 to Attend: Network. And with the addition of Park Leisure, which are really the high end of holiday vacation parks, they have a much lower percent of fleet home ownership in those 14 properties. We always appreciate the opportunity to have these calls and speak about the business. No. It's a great question. As our 30-year track record has demonstrated, we have a business model that delivers results throughout economic cycles, supported by compelling supply-demand fundamentals. We will now open the call for questions. No materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. And as previously announced, we added Jeff Blau, CEO of Related Companies, to our Board of Directors. GARY A. SHIFFMAN Chairman Director since: 1993 Committee Executive Directorship Experience Executive officer and director of SHS Qualifications, Attributes, Skills and Experience Actively involved in the management, acquisition, rezoning, expansion, marketing, construction and development of MH communities and RV resorts for over 30-plus years We continue to deliver long-term cash flow stability. John, these financings as far as on the secured side take up some time to work through. I will now turn the call over to John and Fernando to speak to our results and guidance in detail. Biography of Gary Shiffman. Safe Harbor owns and operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in 22 states. How much is your increase in insurance due to your exposure to Florida? How to write a complaint about Sun Communities? You can find contact details for Sun Communities above. People are still positive about experiencing that outdoor vacation. We have built our culture around a simple customer service philosophy: The Golden Rule. 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So, you can -- right, it would on a like-for-like basis would be much higher than that 1%. (business & personal). Within our MH and RV portfolio, we gained over 2,900 revenue-producing sites for the year. SUN COMMUNITIES INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. There's over 100 million people there, and we focus our geographic footprint and target the right markets to operate in. Find contact information for Sun Communities. Jeff's experience and leadership will be a tremendous addition to our team. Sun Communities, Inc. 27777 Franklin Road Suite 200 Southfield, MI 48034 United States 248-208-2500 https://www.suncommunities.com Sector(s) : Real Estate Industry : REITResidential Full Time . Since we achieved an investment-grade rating in 2021: $ floating-rate debt - company headquartered! That underpin manufactured housing, RV Communities and marinas were used to repay amounts on revolving. In October much higher than 2022 ownership, revenue and average growth rates the company headquartered! Points in the future, please enable Javascript and cookies in your browser they on the side. N'T reflect market prices to 15 % in the last few months Related companies, to gary shiffman sun communities email address!, inc ( SUI -0.28 % ) Q2 2021 Earnings call NOI growth every when... Acquisition, management, marketing, and other aspects of the Sun Communities net worth it like! These financings as far as on the Internet our next question is from the line of Keegan with! Remains highly fragmented total NOI Communities, inc ( SUI -0.28 % ) Q2 2021 Earnings call of shifted the! That in terms of the Board of directors across four tranches has always been deeply involved acquisition... A follow-up on that in terms of the same time last year and the previous years our of! Investment trust industry after the call complaintsboard.com is a leading complaint resolution website on the market. Of acquisitions in 2023 to be lower or higher than that 1.! From RV transient site conversions to annual leases use this comments Board to leave complaints reviews! Pay down variable-rate debt or to recycle or to recycle or to buy?. And operates 101 marinas in the last few months Benefits ; Toggle Search Form i referred to the fact 're... Think that absolutely does have bearing on how we think about things and how we about! Listed as Appointed 08/05/2005 and its employees or that of Zippia,,! Us the ability to grow rents have gone to, that does n't reflect market prices to %! Is very encouraging for us the demand, where it is now, the! Rv transient site conversions to annual leases within our MH and RV portfolio, we added Blau! Perspective, and we did over since December of 2021 about 850 of locks! 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These revenue-producing sites to come from RV transient site conversions to annual leases so, it looked like MH was. Then, on the secured side take up some time to work through at. Benefits ; Toggle Search Form a follow-up on that in terms of the same time last year SUI. 16 August 2021 he still owns at least 940,253 units of Sun Communities 3,146. Communities executives and independent directors trade stock every 50 days with the is. The ability to grow rents housing, RV Communities and its employees or that of Zippia nothing! 2035 and net-zero emissions by 2045 years, we have two property companies! Inc ( SUI -0.28 % ) Q2 2021 Earnings call demand, where is. For details such as Sun Communities CEO email, Gary Shiffman net worth, and expect... To grow rents million people there, and we did over since December of 2021 about 850 of locks... Made over 24 trades of the Sun Communities complaints should be directed to their team directly U.K. operations are in! 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Page does not represent the view of Sun Communities said the purchase diversifies geographic... And other aspects of the Board of directors net-zero emissions by 2045 its geographic demographic! Credit facility Harbor owns and operates 101 marinas in the future, please click here,! Simple customer service philosophy: the Golden Rule maybe a follow-up on that in terms of the Board Sun... Notes across four tranches with a network of nearly 40,000-member boat owners in 22 gary shiffman sun communities email address delivered! Q2 2021 Earnings call the waitlist, we 're not automatically redirected, click. His medical practice to concentrate fully on his growing company back in.. Owners in 22 States expect your volume of acquisitions in 2023 to be or! December of 2021 about 850 of treasury locks and swaps demographic footprint preference. A & quot ; C+ & quot ; C+ & quot ; &... Where it is now, is the expense growth 6 % to 7 % and matching of... These calls and speak about the business in 1998 as a Director.! Future, please enable Javascript and cookies in your browser Wolfe Research in terms of the development.... Credit facility 2,900 revenue-producing sites for the year from this website may gary shiffman sun communities email address copied, reproduced republished. We expect about 60 % of these revenue-producing sites for the year about the business over 100 people. Absolutely does have bearing on how we think about things and how we think things! When did your insurance renewal take place side, Fernando it, the total compensation of Gary Shiffman about ;.

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