MEDIUMBuilt-inGeographic
26.4%
Florida
“10-K Item 1A: '125 of our MH, RV, and UK communities, representing 26.4% of developed sites, are located in Florida'”
SUI · Concentration risk · 10-K extracted
Sun Communities (SUI) concentration risks
Updated
The most significant concentration Sun Communities discloses is Florida at 26.4%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Sun Communities’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM1
LOW2
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWBuilt-inGeographic
19.4%
Michigan
“10-K Item 1A: '89 communities, representing 19.4% of developed sites, are located in Michigan'”
LOWBuilt-inGeographic
12.1%
UK
“10-K Item 1A: '53 communities, representing 12.1% of developed sites, are located in the UK'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile reflects three geographic exposures within a manufactured housing, RV community, and UK holiday parks portfolio, with Florida as the most prominent dimension. As of the most recent filing, 125 communities representing 26.4% of developed sites are located in Florida, a moderate-share, structural exposure. Florida is a structurally attractive market for the company's core resident demographics, but the concentration also creates meaningful exposure to Florida-specific risks: hurricane season, state insurance market conditions, and local regulatory and zoning dynamics. A severe weather event or an adverse shift in the Florida property or insurance environment would disproportionately affect this slice of the portfolio. Michigan is the second-largest geographic concentration at 89 communities representing 19.4% of developed sites, a lower-share, structural exposure. Michigan's seasonal climate and regional economic characteristics introduce different risks than Florida — notably, lower-income sensitivity tied to automotive and manufacturing employment in the state. The United Kingdom, at 53 communities representing 12.1% of developed sites, is a lower-share, structural exposure that introduces currency translation risk and distinct regulatory and leasehold legal frameworks compared to the U.S. portfolio. Taken together, the three disclosed geographic concentrations account for a meaningful portion of developed sites, with Florida as the largest single contributor. The portfolio is otherwise not concentrated in any disclosed customer, supplier, or counterparty. The geographic structure is structural in character — it reflects where the company has historically built its franchise — but Florida concentration in particular warrants monitoring given weather-related and insurance market dynamics.
For the engine’s reasoning on SUI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · REIT - Residential
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AMH | American Homes 4 Rent | 2 | 0 | 0 | 2 |
| CPT | Camden Property Trust | 1 | 0 | 0 | 1 |
| ELS | Equity Lifestyle Properties, In | 0 | 1 | 3 | 4 |
| SUI● | Sun Communities, Inc. | 0 | 1 | 2 | 3 |
| EQR | Equity Residential | 0 | 1 | 0 | 1 |
| AVB | AvalonBay Communities, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.