Sun Communities appoints Charles Young as new CEO effective October 1

SOUTHFIELD, Michigan - Sun Communities, Inc. (NYSE:SUI) announced Wednesday the appointment of Charles D. Young as Chief Executive Officer and board member, effective October 1, 2025. Young will succeed Gary A. Shiffman, who is transitioning to the role of Non-Executive Chairman after 40 years leading the real estate investment trust. For detailed analysis of real estate companies like Sun Communities, InvestingPro offers comprehensive research reports covering over 1,400 US stocks.

Young brings over 25 years of real estate leadership experience to Sun Communities, which owns and operates manufactured housing and recreational vehicle communities across North America and the United Kingdom. He currently serves as President of Invitation Homes Inc., the single-family home leasing company, where he previously held the position of Chief Operating Officer.

"Charles brings a deep understanding of real estate operations, strategy, and leadership," said Tonya Allen, co-Chair of the Board’s CEO Succession Planning Committee, according to the company’s press release.

Prior to Invitation Homes, Young worked at Starwood Waypoint Homes, Mesa Development, and Goldman Sachs in real estate investment. He holds degrees from Stanford University and serves on the Board of Directors of Floor & Decor (NYSE:FND).

Under Shiffman’s leadership, Sun Communities grew from a 31-property portfolio at its 1993 IPO to more than 500 communities today, with its market capitalization expanding from approximately $100 million to over $16.5 billion.

The company reported delivering a total return exceeding 4,100% since its IPO through June 30, 2025, and has maintained positive same-property NOI growth for 25 consecutive years.

As of March 31, 2025, Sun Communities’ portfolio included 502 developed properties with approximately 174,850 developed sites across three countries.

In other recent news, Floor & Decor Holdings, Inc. is preparing for its second-quarter earnings report, with UBS and Citi both maintaining Neutral ratings on the stock. UBS has set a price target of $80.00, while Citi has a slightly lower target of $74.00, noting modestly lowered estimates for same-store sales and earnings per share. TD Cowen has raised its price target to $80.00, citing investor optimism about potential interest rate cuts that could benefit the housing market. However, Loop Capital has reduced its target to $75.00 following the company’s first-quarter results for 2025, which met expectations but included a downward revision in full-year guidance due to sluggish home sales.

Stifel also adjusted its outlook, cutting the price target to $92.00 from $110.00, despite maintaining a Buy rating. This adjustment came after first-quarter earnings for 2025 showed earnings per share exceeding expectations, supported by strong gross margin performance. Floor & Decor’s revised guidance for fiscal year 2025 reflects a decrease in expected comparable revenue, though quarter-to-date sales showed a 1.1% increase. The company is also taking steps to reduce reliance on Chinese imports amid ongoing global trade challenges.

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