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SUN SUN COMMUNITIES , INC . Sun Communities , Inc. Reports 2021 First Quarter Results April 26 , 2021 Southfield , MI , April 26 , 2021 ( GLOBE NEWSWIRE ) -- Sun Communities , Inc. ( NYSE : SUI ) ( the " Company " ) , a real estate investment trust ( " REIT " ) that owns and operates , or has an interest in , manufactured housing ( " MH " ) communities , recreational vehicle ( " RV " ) resorts and marinas , ( collectively , the " properties " ) , today reported its first quarter results for 2021 . Financial Results for the Quarter Ended March 31 , 2021 For the quarter ended March 31 , 2021 , total revenues increased $ 131.7 million , or 42.4 percent , to approximately $ 442.0 million compared to $ 310.3 million for the same period in 2020. Net income attributable to common stockholders was $ 24.8 million , or $ 0.23 per diluted common share , for the quarter ended March 31 , 2021 , as compared to net loss attributable to common stockholders of $ 16.1 million , or $ 0.17 per diluted common share , for the same period in 2020 . Non - GAAP Financial Measures and Portfolio Performance • Core Funds from Operations ( " Core FFO " ) ( 1 ) for the quarter ended March 31 , 2021 , was $ 1.26 per diluted share and OP unit ( " Share " ) as compared to $ 1.22 in the corresponding period in 2020 , a 3.3 percent increase . • Same Community ( 2 ) Net Operating Income ( " NOI " ) ( 1 ) increased by 2.7 percent for the quarter ended March 31 , 2021 , as compared to the corresponding period in 2020 . • Same Community ( 2 ) Occupancy increased by 190 basis points to 98.8 percent , as compared to 96.9 percent at March 31 , 2020 . • MH and Annual RV Revenue Producing Sites increased by 514 sites in the quarter ended March 31 , 2021 , bringing total portfolio occupancy to 97.3 percent at March 31 , 2021 , as compared to an increase of 300 sites in the corresponding period in 2020 and total portfolio occupancy of 96.7 percent at March 31 , 2020 . • Home Sales Volume increased 9.4 percent for the quarter ended March 31 , 2021 , as compared to the same period in 2020 . • Acquisitions totaled $ 183.0 million during and subsequent to the quarter ended March 31 , 2021 , including 2 MH communities , 6 RV resorts and 4 marinas . Gary Shiffman , Chief Executive Officer stated , " Sun delivered a strong start to the year , as we continued to benefit from both the stability of our portfolio and the contribution of our growth initiatives across manufactured housing , RV resorts and marinas . Sustained demand for affordable housing and the desire for RV vacations are providing strong tailwinds , while marinas continue to exhibit durable customer retention and growth . With increased rates of vaccination and the beginning of a return to normalcy , we are seeing higher forward RV bookings providing better visibility into a stronger year ahead . Accordingly , we have increased our earnings guidance to reflect this confidence . To enhance our growth , we delivered approximately 350 ground - up development and expansion sites , and deployed $ 183.0 million into the acquisition of irreplaceable assets . As we execute on our investment strategies and further reinforce the high quality of our brand and offerings to our residents and guests , we are well positioned to continue to deliver industry - leading results . " OPERATING HIGHLIGHTS Portfolio Occupancy Total MH and annual RV occupancy was 97.3 percent at March 31 , 2021 , compared to 96.7 percent at March 31 , 2020 , an increase of 60 basis points . During the quarter ended March 31 , 2021 , MH and annual RV revenue producing sites increased by 514 sites , as compared to an increase of 300 revenue producing sites during the quarter ended March 31 , 2020 . Same Community ( 2 ) Results For the 407 MH and RV properties owned and operated by the Company since January 1 , 2020 , NOI ( 1 ) for the quarter ended March 31 , 2021 increased 2.7 percent over the same period in 2020 , driven by a 3.5 percent increase in revenues . Same Community occupancy ( 3 ) increased to 98.8 percent at March 31 , 2021 from 96.9 percent at March 31 , 2020 . For the MH same community properties , NOI ( 1 ) increased by 4.9 percent in the quarter ended March 31 , 2021 , driven by a 5.1 percent increase in revenues and offset by a 5.7 percent increase in property operating expenses .