Sun Communities, Inc. announced tax treatment details for 2024 common share distributions. Shareholders should consult tax advisors.
Quiver AI Summary
Sun Communities, Inc. announced the tax treatment for its 2024 common share distributions, detailing dividend payments for various dates throughout the year. For example, a distribution of $0.93 per share was declared on December 1, 2023, with ordinary taxable dividends and non-dividend distributions specified for shareholders. The total capital gain distribution was also included, amounting to $1.63 per share over the year, with breakdowns for unrecaptured Section 1250 gain and Section 199A dividends. Shareholders are advised to consult their tax advisors regarding the specific tax implications of these distributions. Sun Communities operates a diversified portfolio of properties in the U.S., Canada, and the U.K. as a REIT, owning and managing 659 developed sites.
Potential Positives
- Sun Communities, Inc. announced a significant total capital gain distribution of $1.631226 per share, which may enhance investor returns.
- The company provided detailed tax treatment information for shareholders, offering transparency and clarity regarding the distributions.
- Consistent quarterly distributions of $0.94 per share highlight the company's ongoing commitment to returning value to shareholders.
- The press release confirms the stability and growth of Sun Communities' portfolio, with 659 developed properties and a substantial number of developed sites, underlining its market position.
Potential Negatives
- Shareholders may be concerned about the relatively low proportion of Ordinary Taxable Dividends compared to the total distributions, which could signal lower immediate returns on their investment.
- The complexity of the tax treatment outlined may create confusion among shareholders, potentially leading to dissatisfaction or negative sentiment towards the company's transparency.
- The absence of any growth or increased dividend announcements could indicate stagnation, raising concerns about the company’s future profitability and attractiveness to investors.
FAQ
What is the tax treatment for Sun Communities' 2024 share distributions?
Sun Communities has provided details on ordinary taxable dividends, qualified taxable dividends, and capital gains for 2024 distributions.
When are the distribution dates for Sun Communities shares?
The declared, record, and payable dates for distributions are set for each quarter in 2024, detailed in the announcement.
How much is the total capital gain distribution for 2024?
The total capital gain distribution for Sun Communities shares in 2024 amounts to $1.631226 per share.
What are the qualified taxable dividends for SUI in 2024?
Qualified taxable dividends for Sun Communities in 2024 total $1.976298 per share, included in ordinary taxable dividends.
Who can shareholders contact for more information about distributions?
Shareholders can contact Fernando Castro-Caratini, Chief Financial Officer, for further information regarding share distributions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SUI Insider Trading Activity
$SUI insiders have traded $SUI stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $SUI stock by insiders over the last 6 months:
- BAXTER UNDERWOOD (CEO - Safe Harbor Marinas, LLC) sold 3,000 shares for an estimated $394,290
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SUI Hedge Fund Activity
We have seen 234 institutional investors add shares of $SUI stock to their portfolio, and 253 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC added 1,430,630 shares (+37.6%) to their portfolio in Q3 2024, for an estimated $193,349,644
- COHEN & STEERS, INC. added 1,183,545 shares (+10.4%) to their portfolio in Q3 2024, for an estimated $159,956,106
- PRINCIPAL FINANCIAL GROUP INC removed 1,003,445 shares (-28.7%) from their portfolio in Q3 2024, for an estimated $135,615,591
- PRICE T ROWE ASSOCIATES INC /MD/ added 891,169 shares (+23.8%) to their portfolio in Q3 2024, for an estimated $120,441,490
- JPMORGAN CHASE & CO removed 635,513 shares (-39.1%) from their portfolio in Q3 2024, for an estimated $85,889,581
- DEUTSCHE BANK AG\ removed 602,349 shares (-79.2%) from their portfolio in Q3 2024, for an estimated $81,407,467
- WARATAH CAPITAL ADVISORS LTD. removed 520,071 shares (-79.6%) from their portfolio in Q3 2024, for an estimated $70,287,595
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Southfield, MI, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE:SUI) (the "Company") announced the tax treatment of its 2024 common share distributions.
Common Shares (CUSIP No. 866674104) - SUI
|
Declared
Date |
Record
Date |
Payable
Date |
Distribution
($ per share) |
Ordinary Taxable Dividend
(2)
($ per share) |
Qualified Taxable Dividend
(2)
($ per share) |
Non Dividend Distribution ($ per share) |
||||
| 12/01/23 | 12/29/23 | 01/16/24 | $ | 0.930000 | $ | 0.490122 | $ | 0.000000 | $ | 0.035334 |
| 03/01/24 | 03/29/24 | 04/15/24 | $ | 0.940000 | $ | 0.495392 | $ | 0.000000 | $ | 0.035714 |
| 06/03/24 | 06/28/24 | 07/15/24 | $ | 0.940000 | $ | 0.495392 | $ | 0.000000 | $ | 0.035714 |
| 09/03/24 | 09/30/24 | 10/15/24 | $ | 0.940000 | $ | 0.495392 | $ | 0.000000 | $ | 0.035714 |
| $ | 3.750000 | $ | 1.976298 | $ | 0.000000 | $ | 0.142476 | |||
|
Declared
Date |
Record
Date |
Payable
Date |
Total Capital Gain Distribution
($ per share) |
Unrecaptured Section 1250 Gain
(1)
($ per share) |
Section 199A Dividend
(2)
($ per share) |
|||
| 12/01/23 | 12/29/23 | 01/16/24 | $ | 0.404544 | $ | 0.067763 | $ | 0.490122 |
| 03/01/24 | 03/29/24 | 04/15/24 | $ | 0.408894 | $ | 0.068491 | $ | 0.495392 |
| 06/03/24 | 06/28/24 | 07/15/24 | $ | 0.408894 | $ | 0.068491 | $ | 0.495392 |
| 09/03/24 | 09/30/24 | 10/15/24 | $ | 0.408894 | $ | 0.068491 | $ | 0.495392 |
| $ | 1.631226 | $ | 0.273236 | $ | 1.976298 | |||
(1) To the extent that Unrecaptured Section 1250 Gain exists, the gain is a subset of, and included in, the Total Capital Gain Distribution amount.
(2) The Section 199A Dividend and Qualified Taxable Dividend are subsets of, and included in, the Ordinary Taxable Dividend.
Shareholders are encouraged to consult with their tax advisors as to the specific tax treatment of the distributions they received from the Company.
About Sun Communities, Inc.
Sun Communities, Inc. is a REIT that, as of September 30, 2024, owned, operated, or had an interest in a portfolio of 659 developed properties comprising approximately 179,130 developed sites and approximately 48,760 wet slips and dry storage spaces in the United States, Canada, and the United Kingdom.
FOR FURTHER INFORMATION AT THE COMPANY:
Fernando Castro-Caratini
Chief Financial Officer
(248) 208-2500
www.suninc.com
