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Buy (3.15 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, April 19, 10:56 AM
Slide #579. 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 real estate investment trust. Co. owns manufactured housing (MH) communities and recreational vehicle (RV) resorts throughout the U.S. and in Ontario, Canada. Co. self-administers, self-manages, and operates or holds an interest in, and develops the majority of its MH communities and RV resorts. Co.'s Safe Harbor Marinas, LLC subsidiary owns, operates, develops and manages marinas throughout the U.S. and Puerto Rico, with the majority of such marinas concentrated in coastal regions and others located in various inland regions. Co. leases individual parcels of land, or sites, with utility access for the placement of manufactured homes and RVs to its MH and RV customers. Preferred: SUI.PRA
 Open the SUI Page at Preferred Stock Channel »
| Name: |
Sun Communities Inc |
| Website: |
www.suncommunities.com |
| Sector: |
REITs |
| Number of ETFs Holding SUI: |
56 (see which ones) |
| Total Market Value Held by ETFs: |
$2,233,799,053.71 |
| Total Market Capitalization: |
$14,718,000,000 |
| % of Market Cap. Held by ETFs: |
15.18% |
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