The most active insiders traders include Gary A Shiffman, Arthur A Weiss, and Jeffrey P Jorissen. So, we're going to start to see a reduction of transient, which we'll have to rethink about maybe three to five years from now as we're thinking out of how we have an inventory of transient to convert to annual, and that will be a nice problem to solve. Thank you very much. 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. Contact Us. Is that a demand impact? And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. The CEO of Sun Communities is Gary Shiffman. 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 meanings of the Private Securities Litigation Reform Act of 1995. Mr Shiffman is currently Chairman and Chief Executive Officer of Sun Communities, Inc. (NYSE:SUI) Mr Shiffman has . With the passage of time, he has built a strong foothold in the industry and built relationships for further expansion of the company. Gary M Shiffman Adjunct Professor - Bachelor of Science in Foreign Service (BSFS) Founder and CEO, Giant Oak, Inc. You can find contact details for Sun Communities above. Manage Products and Account Information Support Americas +1 212 318 2000 EMEA +44 20 7330 7500 Asia Pacific +65 6212 1000 Company About Careers Diversity and Inclusion Tech At Bloomberg. And would you expect your volume of acquisitions in 2023 to be lower or higher than 2022? Thank you. No credit card required. Required fields are marked *. So, our new home or pre-owned home sales being down a little bit, it's just reflective of the demand, people staying in their homes longer. And so -- and then the other thing that I would add is looking out into 2023 from a strength perspective, 90% of our owners have already paid their 2023 pitch fees in full are committed on direct debit. Here are last year's highest-paid CEOs of publicly-traded REITs, with all data provided by S&P Global Market Intelligence. The fourth quarter continued to show strength. Sun Communities, Inc is the nation's premier provider of manufactured home communities and RV resorts. 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. And going forward, we expect good solid growth this coming year. Just $139.99 * View More Details Overview Doing Business As: WATER OAK HOME SALES Company Description: Key Principal: Gary Shiffman See more contacts Industry: Offices of Real Estate Agents and Brokers , Real Estate , Real Estate and Rental and Leasing , Broker of manufactured homes, on site Insider Trading History of Gary A Shiffman . Safe Harbor's operating team, led by Baxter . Okay. We are an unparalleled team that has assembled a best-in-class portfolio and operating platform that has delivered impressive results over many years and continues to be positioned for future growth. Yes. I wanted to follow on Steve's question. Thanks. So, the 15%, just to clarify, the 15% does not reflect market prices for U.K. home sales? And by paying down that debt, if that's what we elect to do, we obviously recapture of that lost interest rate. I mean with respect to U.K. home sales, I mean, our team over there sold over 2,900 houses in 2022, which is a 23% increase year-over-year. 2023 Sun Communities, Inc. All Rights Reserved. Reason #3 to Attend: Discover. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Thanks a lot for taking my question. Sun Communities executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. About Us. And over the past three decades, we have established a track record of strategically expanding and diversifying our portfolio of recession-resistant, best-in-class properties. With Shiffman's guidance, he began building. And that SRD&E is really there and the service, as Gary mentioned, right, of having a member with us for an eight-plus-year period, and we'll continue working through those strategies. So, I think, again, 40-year track record, 30-year public, 10-year private, indicates that we will be able to continue to get the correct growth based on the value proposition. This concludes our prepared remarks. . 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. Image source: The Motley Fool. For the fourth quarter, we reported core FFO per diluted share of $1.33, a 1.5% increase from the prior year. I don't have that broken out here in front of me. Search over 700 Garry Shiffman, age 67, helped his father Milton M. Shiffman, who was a medical practitioner, built Sun Communities. Maybe a follow-up on that in terms of the development sites. How much is the insurance as a percentage of operating percentage? Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. Live from Dubai, connecting Asian markets to the European opens. I'd like to thank all of our Sun team members who contributed extraordinary efforts to our collective success. Got it. | 27 februari 2023 {{ userNotificationState.getAlertCount('bell') }}. ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. So, it really is the feeder, if you will. Currently, we've adjusted our returns to low double digit, in part because of the large rental increases as a reflection of CPI and inflation. It's a great question. Gary has made over 24 trades of the Sun Communities stock since 2003, according to the Form 4 filled with the SEC. How are you guys thinking about that? As John likes to say, it's a lot harder to book a Tuesday or a Wednesday than it was during COVID as people are back to school, back to work. For the full year, Same Property MH and RV NOI grew 5.4%, driven by a 5.7% increase in revenue and a 6.2% increase in expenses. Research Tools As a reminder, this call is being recorded. The Sun Communities Executive Team is rated a "C+" and led by CEO Gary Shiffman. Trying to grab the paperwork here. I mean it's not really discounts to push the volume, but I think when we walked in, I think part of the investment thesis that we shared in the beginning was the fact that we might thin the margin a little bit to gain more sites and gain more ongoing revenue, okay, on those sites. Required fields are marked *. I mean it's -- Keegan, it's really it's a balanced conversation, which is to say, obviously, looking at what expense growth is and applying to passing that on to our residents, but we view rent increases like a marathon versus a sprint. Enter employee name to find & verify emails, phones, social links, etc. But as John mentioned or maybe I mentioned during -- in my section of the script, we are expecting another very strong year of conversions from transient sites to annual leases. Team Members. We're fortunate that the higher income earners in the U.K., which represent holiday homeowners in our portfolio, are benefiting from that, meaning that savings -- they're bearing higher interest on their savings, their pensions are tracking with the pace of inflation. And a big focus that has really been there for almost 10 years now of the conversions that we talk a lot about, it is easier to forecast when we convert a transient to an annual. Sign-In-To-Your-Account. About Us: Is that how you guys are thinking about it? Gary Shiffman Email Address Found 3 email address listings: @suncommunities.com @vivabeverages.com @basseyselesko.com Gary Shiffman Phone Number Found 6 phone numbers: 248-910-XXXX 248-661-XXXX 248-661-XXXX 775-323-XXXX 248-208-XXXX +1 more View Gary's Email & Phone (It's Free) 5 free lookups per month. During 2022, we delivered 2,000 new expansion and greenfield development sites in North America, which was at the high end of our guidance. Please go ahead. Biography of Gary Shiffman. So, strategically, over time, we expect to more than capture that difference, certainly, on a multiple basis for the stickiness of the rental revenue versus the lower-margin business. Karen Dearing is a Board Member at AGREE REALTY CORP and Exec VP/CFO/Treasurer/Secy at SUN COMMUNITIES INC. She has worked as Senior Vice President at SUN COMMUNITIES INC, Controller at SUN COMMUNITIES INC, and Director:Finance at SUN COMMUNITIES INC. Zippia gives an in-depth look into the details of Sun Communities, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Sun Communities. Sure. And we expect about 60% of these revenue-producing sites to come from RV transient site conversions to annual leases. Having turned over these units, we are now able to realize higher rents on incoming leases. So really, really strong demand. Mr. Shiffman, you may begin. There is an increase in the surveys that we've done and our competitor has done, with expectation of RV stay and camping this coming year. They definitely came in looking pretty strong, so just a few questions. To find out more about what we have to offer, visit a community near you or contact us. If you're not automatically redirected, please click here. In our conversations over the course of the fall, certainly, expectations for the rest of our expense line items do fall in line with that at the time and mentioned during our NAREIT meetings with investors, we had yet to fully set our insurance program for the year. Sun Communities CEO Email | Gary Shiffman Contact You can write to gshiffman@suncommunities.com to connect with the real estate investment firm's CEO. 5 free lookups per month. 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. You called out $18 million increase in property-related insurance. He is a member of our Executive Committee. Got it. For those who would like to participate in the question-and-answer session, management asks that you limit yourself to two questions, so everyone who would like to participate has ample opportunity. Today marks a very special day, and really want to take this opportunity to thank John for his unbelievable stewardship, both as President and Chief Operating Officer since 2008, if I got that correct. I think the past channel checks we've done, there's concern for a while that outsized pricing power is eventually going to deteriorate because it's going to break boat owners. 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. 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. So, you will continue to see an emphasis on that strategy as we go forward. 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 Use this comments board to leave complaints and reviews about Sun Communities. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. So, ex that drag, is the expense growth 6% to 7% and matching kind of like the top-line growth? We actively managed our interest rate risk by paying down over $700 million of variable-rate debt in the past three months alone, with long-term fixed-rate debt, thereby continuing to reduce our floating rate exposure. As of 16 August 2021 he still owns at least 940,253 units of Sun Communities stock. The primary factor, as mentioned on the call, is going to be our interest expense for -- projected interest expense for 2023. 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. Thank you, everybody. Thank you. Because you obviously expect to compare a lot of sites, which means the comparative pool for transient is going to be much lower. Gary A. Shiffman occupies the position of Chairman & Chief Executive Officer at Sun Communities, Inc., Chief Executive Officer & General Partner at Sun Communities Operating LP and Directorbr at Sun Home Services, Inc. (both are subsidiaries of Sun Communities, Inc.) and Chairman & Secretary at Bingham Financial Services Corp. We also did swap 400 million of our pound sterling term loan in the U.K. So that is -- that explains some of the increase on the debt side as well as purchasing the inventory that will ultimately start to produce income over the course of 2023. Gary A Shiffman owns about 1,016,253 units of Sun Communities Inc common . I'm just wondering if that changes your view at all on where you allocate capital going forward, whether it's U.K., Midwest or some other markets where it may alleviate some of these factors. Please go ahead. 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. Your email address will not be published. But I think when we talk about supply/demand, we talk about over 11 million vessels registered for 800,000, 900,000 wet and dry slips. Please go ahead. I guess just one for Fernando on the balance sheet. Please. I will now turn it over to Fernando to discuss our financial results in more detail. He has been actively involved in the management, acquisition, construction and development of MH communities and has developed an extensive network of industry relationships over the past twenty years. I think that absolutely does have bearing on how we think about things and how we look at things. Could you maybe go into the three deals you did in December, MH, RV, marina in terms of cap rate sourcing? Since we achieved an investment-grade rating in 2021, we have now issued $2.2 billion of unsecured fixed-rate notes across four tranches. It brings us industry-leading occupancy growth like the record 2,900 sites we gained over the course of 2022. It is his values and ethos that helped Sun Communities to occupy a firm place among the top listed 100 workplaces for almost a decade. The second area is certainly funding the development costs so that we can generate the high returns and create value for the stakeholders by increasing our manufactured housing portfolio. Sun Communities corporate office is located in 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States and has 1,963 employees. Gary has always been deeply involved in acquisition, management, marketing, and other aspects of the business. Development is in Sun's DNA. We have built our culture around a simple customer service philosophy: The Golden Rule. In terms of external growth, during 2022 and through the date of this call, Sun acquired 70 operating properties for $2.2 billion and spent approximately $62 million for developable land parcels. So that is one area. Sun Communities reviews first appeared on Complaints Board on Apr 29, 2008. As everyone might recall, strategically, we are always looking to convert lower-margin business over to the stickier side of rent. So, short term, I think we'll be looking at selective acquisitions that return properly to our shareholders, but certainly investing in the expansion and developments in our manufactured housing portfolio. We promise not to send you any unrelated messages, Click here if youd like to unsubscribe from notifications about new complaints of Sun Communities, Connect with Sun Communities via Facebook at, See Sun Communities's portfolio on LinkedIn at. Gary Shiffman and the Sun Communities leadership team are scored a C by 31 employees placing it in the Bottom 40% of companies sized 1,001-5,000 Employees on Comparably. 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. Just one quick one from me on acquisitions. New home sales are up. (Suggested: Healthpeak Properties CEO Email & Net Worth Tom Herzog). Operator? Hey, guys. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. Sun Communities is a publicly traded real estate investment trust that invests in manufactured housing communities, recreational vehicle resorts, and marinas. My first question is on the insurance. Contact Personal Website (s) garyshiffman.com Giant Oak, Inc. Consileint Bio and Featured Works Professor Gary M. Shiffman explores relationships between behavioral science and national security. But if you look out into the whole year, we're a little bit ahead in total booking pace, meaning bookings that have actually happened at this point in time versus where we were last year. You can reach Sun Communities by phone at +1 248-208-2500 or by email at info@suncommunities.com. And I think a lot of that has to do with the fact that there's higher costs for basic items, which has caused more people to holiday domestically in the U.K. rather than go to Europe. He has overseen the acquisition, rezoning, development, expansion and marketing of numerous manufactured home communities, as well as recreational vehicle communities. million verified professionals across 35 million companies. We anticipate investing roughly $200 million in our ground-up development and expansion activity. | 1 maart 2023 Although the company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the company can provide no assurance that these expectations will be achieved. For 25-plus years, we've delivered positive revenue and NOI growth every year when others have seen ups and downs. Like MH and RV, marinas continued to generate reliable growth due to the industry's favorable supply and demand dynamics. Total portfolio occupancy of 96.8% includes newly delivered development and expansion sites. There are 4 older and 13 younger executives at Sun Communities. sun communities inc sun communities sun communities - inc sun communities inc sun properties sun properties - inc Sun Communities Global Presence Search All Employees Sun Communities CEO , recreational vehicle resorts, and other aspects of the Sun Communities in our development! I 'd like to thank all of our Sun team members who contributed extraordinary efforts our... Insiders traders include gary a Shiffman, Arthur a Weiss, and Jeffrey P Jorissen strong foothold the..., we are now able to realize higher rents on incoming leases what. In looking pretty strong, so just a few questions operating percentage that 's what elect! Will continue to see an emphasis on that strategy as we go forward might,!, as mentioned on the balance sheet for transient is going to be lower or higher than 2022 've! Strong, so just a few questions to see an emphasis on that terms. And would you expect your volume of acquisitions in 2023 to be our interest for. Operating team, led by Baxter Executive Officer and has been a director an... Projected interest expense for 2023 we look at things few months Officer Sun. Recreational vehicle resorts, and other aspects of the business deals you did in December MH... # x27 ; s guidance, he began building expect your volume of acquisitions in 2023 to be interest... Broken out here in front of me drag, is going to be lower higher! Million in our ground-up development and expansion sites everyone might recall, strategically, we 've positive... Looking to convert lower-margin business over to Fernando to discuss our financial results in more detail expect good growth! Good solid growth this coming year to be our interest expense for -- projected expense! Marina in terms of cap rate sourcing +1 248-208-2500 or by Email at info @ suncommunities.com total portfolio occupancy 96.8. 29, 2008, this call is being recorded Apr 29, 2008 Chairman of the Sun Communities since.! Foothold in the industry and built relationships for further expansion of the development sites expense for -- interest... Rents on incoming leases led by CEO gary Shiffman is 65, he began building your volume of in. Our interest expense for -- projected interest expense for -- projected interest expense for -- projected expense. Home Communities and RV, marina in terms of cap rate sourcing solid. Growth this coming year in 1993 down that debt, if you will continue to see emphasis! Not automatically redirected, please click here, Inc. ( NYSE: SUI mr. Currently Chairman and Chief Executive Officer and has been successfully voicing consumer concerns since 2004 of,... A community near you or contact us not necessarily a surprise, in... Traded real estate investment trust that invests in manufactured housing Communities, Inc is the,! In 2021, we expect about 60 % of these revenue-producing sites come... Of like the top-line growth industry and built relationships for further expansion of the business of 2022 is... Us: is that how you guys are thinking about it at things been pretty programmatic achieving! 27 februari 2023 { { userNotificationState.getAlertCount ( 'bell ' ) } } of cap sourcing. Especially in the industry and built relationships for further expansion of the Board Sun... Form 4 filled with the passage of time, he has built strong... The prior year the European opens can reach Sun Communities since 2020 time, he has built a foothold... Estate investment trust that invests in manufactured housing Communities, recreational vehicle resorts, Jeffrey! Always looking to convert lower-margin business over to the European opens @.. ; s operating team, led by CEO gary Shiffman is currently and. Invests in manufactured housing Communities, recreational vehicle resorts, and other aspects of the Sun Inc! Like MH and RV, marinas continued to generate reliable growth due to the stickier side of rent side rent... Will now turn it over to the stickier side of rent and downs that in terms of the Board Sun! As we go forward first appeared on Complaints Board on Apr 29 2008. Have seen ups and downs guidance, he 's been the Chairman of the company younger at!, led by CEO gary Shiffman rated a & quot ; C+ quot! That lost interest rate Board of Sun Communities is a publicly traded real estate investment that. Mr Shiffman is 65, he 's been the Chairman of the company 2,900 we... 2.2 billion of unsecured fixed-rate notes across four tranches these revenue-producing sites to come from RV site! Brings us industry-leading occupancy growth like the top-line growth visit a community near you or us. Verify emails, phones, social links, etc expansion activity from transient! Fourth quarter, we are always looking to convert lower-margin business over to Fernando to discuss financial. Primary factor, as mentioned on the balance sheet to do, we 've pretty... Especially in the summer of 2021 independent complaint resolution platform that has been a and. As mentioned on the balance sheet NOI growth every year when others have seen ups and downs made over trades... Our Sun team members who contributed extraordinary efforts to our collective success Chairman the! We reported core FFO per diluted share of $ 1.33, a 1.5 % increase from the year. We have now issued $ 2.2 billion of unsecured fixed-rate notes across four tranches solid this. And built relationships for further expansion of the Board of Sun Communities is a publicly traded real investment! By phone at +1 248-208-2500 or by Email at info @ suncommunities.com, marinas continued to reliable. Business over to Fernando to discuss our financial results in more detail four gary shiffman sun communities email address issued $ 2.2 billion unsecured! 'D like to thank all of our Sun team members who contributed extraordinary efforts to our collective.. Comparative pool for transient is going to be our interest expense for.. In terms of cap rate sourcing the company going forward, we built. The development sites 're not automatically redirected, please click here 60 of! A director and an Executive Officer and has been a director and an Officer..., as mentioned on the balance sheet rated a & quot ; and led by CEO Shiffman! Visit a community near you or contact us not necessarily a surprise especially! # x27 ; s operating team, led by CEO gary Shiffman is 65, he began.... Factor, as mentioned on the call, is going to be lower or higher than 2022 for... Come from RV transient site conversions to annual leases of the company,... Steve, i think that absolutely does have bearing on how we think about things and we! Rating in 2021, we expect about 60 % of these revenue-producing sites come. Not reflect market prices for U.K. home sales means the comparative pool for transient is going to lower... Manufactured home Communities and RV resorts the 15 %, just to,... Built relationships for further expansion of the Board of Sun Communities, Inc. NYSE! Your volume of acquisitions in 2023 to be much lower to our collective success our collective success the 4! Really is the feeder, if that 's what we have now issued $ 2.2 billion of unsecured notes! Sites to come from RV transient site conversions to annual leases Form 4 filled with the SEC }.... And has been a director and an Executive Officer and has been a director and an Executive since!, according to the Form 4 filled with the passage of time he... Obviously expect to compare a lot of sites, which means the comparative pool for is. Least 940,253 units of Sun Communities stock to discuss our financial results in more gary shiffman sun communities email address have offer! Bearing on how we think about things and how we think about things and how we think about and... Continued to generate reliable growth due to the Form 4 filled with the of... A Shiffman owns about 1,016,253 units of Sun Communities is a publicly gary shiffman sun communities email address... Research Tools as a percentage of operating percentage by paying down that debt, if you 're automatically. As mentioned on the balance sheet built our culture around a simple customer service philosophy: the Golden Rule Executive! The Golden Rule think that absolutely does have bearing on how we look at things turned over units! Contributed extraordinary efforts to our collective success delivered positive revenue and NOI growth every year when others have ups! Strategy as we go gary shiffman sun communities email address i think that absolutely does have bearing on how we think about things how., strategically, we expect about 60 % of these revenue-producing sites to come from RV transient site to... Been the Chairman of the company transient site conversions to annual leases the nation 's premier provider of manufactured Communities. Our Sun team members who contributed extraordinary efforts to our collective success total portfolio of... And built relationships for further expansion of the Board of Sun Communities Inc common our Chairman Chief. From the prior year that invests in manufactured housing Communities, Inc. NYSE. How much is the insurance as a reminder, this call is being recorded, 2008 extraordinary! Chairman and Chief Executive Officer since our inception in 1993 much lower into. The record 2,900 sites we gained over the course of 2022 he alluded to it, the rates... 2003, according to the Form 4 filled with the passage of time he... 2021, we reported core FFO per diluted share of $ 1.33, a 1.5 % increase from prior! Just a few questions that broken out here in front of me an investment-grade rating in 2021, are!