SUN COMMUNITIES INC
For the period ended Sep 30, 2026. Filed Oct 27, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 27, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-07-28.
0000912593-26-000234
Item 1A. RISK FACTORSCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-10-27.
0000912593-26-000276
Item 1A. RISK FACTORSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 11 previous paragraphs and 8 current paragraphs.
6 unchanged; 2 reworded; 0 added; 3 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Removed paragraphs (3)
Previous report
We have been and may in the future be required to write down long-lived assets due to impairment, which could have a material and adverse effect on our financial condition, liquidity, and results of operations, and the market price of our common stock.
Previous report
Declines in the value of our real estate assets may result in the recognition of impairment charges. We review the carrying value of long-lived assets to be held for use for impairment quarterly or whenever events or changes in circumstances indicate a possible impairment. Future events could occur which would cause us to conclude that impairment indicators exist, and significant adverse changes in national, regional, or local market conditions or trends may cause us to change the estimates and assumptions used in our impairment analysis. The results of an impairment analysis could be material to our financial statements. Our primary indicators for potential impairment include a reduction in projected future cash flows and deteriorating NOI trends period over period. Circumstances that may prompt a test of recoverability may include a significant decrease in the anticipated market price, a change in strategy for an investment property that could indicate a shorter holding period, an adverse change to the extent or manner in which an asset may be used or in its physical condition, or other events that may significantly change the value of the long-lived asset. Any adverse change in these factors could cause an impairment in our assets, including our investment in real estate. Any such impairment could have an adverse impact on our results of operations and financial condition.
Previous report
Refer to Note 1, "Basis of Presentation" and Note 2, "Assets Held for Sale and Discontinued Operations," in our accompanying Condensed Consolidated Financial Statements for information on a non-cash valuation allowance charge of $1.1 billion for our UK business that we recognized during the three months ended June 30, 2026. For a summary of our significant accounting policies and critical accounting estimates, refer to Note 1 of our Consolidated Financial Statements and the "Critical Accounting Estimates" section of Part II, Item 7, each within our 2025 Annual Report.
Reworded paragraphs (2)
Previous wording
In addition to the other information set forth in this report, you should carefully consider the risk factors described in Part 1, Item 1A., "Risk Factors," in our 2025 Annual Report, and in Item 8.01 of our Current Report on Form 8-K filed on May 21, 2026, which could materially affect our business, financial condition, or future results. We have updated our risk factors set forth in such reports with the risk factor described below:
Current wording
In addition to the other information set forth in this report, you should carefully consider the risk factors described in Part 1, Item 1A., “Risk Factors,” in our 2025 Annual Report, in Item 8.01 of our Current Report on Form 8-K filed on May 21, 2026, and in Part II, Item 1A., “Risk Factors,” in our Quarterly Report on Form 10-Q for the three months ended June 30, 2026, which could materially affect our business, financial condition, or future results. There have been no material changes to the disclosure on these matters as set forth in such reports.
Previous wording
(1) During the three months ended June 30, 2026, we withheld 24 shares from employees to satisfy estimated statutory income tax obligations related to vesting of restricted stock awards. The value of the common stock withheld was based on the closing price of our common stock on the applicable vesting date.
Current wording
(1) During the three months ended September 30, 2026, we withheld six shares from employees to satisfy estimated statutory income tax obligations related to vesting of restricted stock awards. The value of the common stock withheld was based on the closing price of our common stock on the applicable vesting date.