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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 6:12 AM

Slide #373. Sun Communities, Inc. Preferred Stock Offering

Company: Sun Communities, Inc. (NYSE:SUI)
Shares Offered: 3,000,000
Date of Pricing: 11/5/2012
Price Per Share: $25
Preferred Stock Offering Details: Sun Communities, Inc. announced that it has priced an underwritten registered public offering of 3,000,000 shares of its 7.125% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at $25.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase an additional 450,000 shares of the Series A Preferred Stock on the same terms and conditions. The offering is expected to close on November 14, 2012, subject to the satisfaction or waiver of customary closing conditions. Distributions on the Series A Preferred Stock will be paid quarterly in arrears on or about January 15, April 15, July 15 and October 15 of each year, commencing January 15, 2013, at a rate per annum of 7.125% of the liquidation value of $25.00 per share (equivalent to $1.78125 per share per annum).

Sun Communities is a self-administered and self-managed real estate investment trust. Co. is in the business of acquiring, operating, developing and expanding manufactured housing and recreational vehicle (RV) communities. Co. leases individual parcels of land with utility access for placement of manufactured homes and RVs to its customers. Co., through its subsidiary, Sun Home Services, Inc. (SHS), is engaged in the marketing, selling, and leasing of new and pre-owned homes to residents in Co.'s communities. At Dec 31 2016, Co. owned, operated or had an interest in a portfolio of 341 properties in 29 states and Ontario, Canada, while SHS had 10,733 occupied leased homes in its portfolio.

Preferred: SUI.PRA

Open the SUI Page at Ru Back Packer »

Name: Sun Communities Inc
Sector: REITs
Number of ETFs Holding SUI: 49 (see which ones)
Total Market Value Held by ETFs: $1,063,126,636
Total Market Capitalization: $7,173,000,000
% of Market Cap. Held by ETFs: 14.82%

Open the SUI Page at Ru Back Packer (in a new window) »

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