Financial StrategySun Communities, Inc. used asset sale proceeds primarily to pay down debt, bringing Net Debt / TTM EBITDA to 6.0x from 6.2x.
Leadership ChangesThe retirements of CEO Gary Shiffman and an unnamed Board member could lead to a more significant overhaul of the overly-complex business.
Rental Growth OutlookPreliminary 2025 annual rental rate growth for North American MH, Annual RV, Marina, and UK are viewed positively.