Sun Communities, Inc.

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Sun Community's second quarter 2026 earnings conference call. The press release and supplemental financial information can be found on the Investor Relations section of the company's website. At this time, management would like me to inform you that certain statements made during this call, which are not historical facts, may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. During today's call, management may discuss certain non-GAAP financial measures. Reconciliations of these measures to the most directly comparable to GAAP measures are included in the press release and supplemental financial information. Although the company believes the expectations reflected in any forelicking statements are based on reasonable assumptions, the company can provide no assurance that its expectations will be achieved. Factors and risks that could cause actual results to differ materially from expectations are detailed in today's press release and from time to time in the company's periodic filings with the SEC. The company undertakes no obligation to advise or update any forelicking statements to reflect events or circumstances after the date of this call. Having said that, I would like to introduce management with us today. Charles Young, Chief Executive Officer, John McLaren, President and Chief Operating Officer, Fernando Castro-Caratini, Chief Financial Officer, and Aaron Weiss, Executive Vice President and Chief Investment Officer. After their remarks, there will be an opportunity to ask questions. For those who would like to participate in the question and answer session, management asks that you limit yourselves to one question so everyone who would like to participate has ample opportunity. As a reminder, this call is being recorded. I'll now turn the call over to Charles Young, Chief Executive Officer. Mr. Young, you may begin.

Good morning. Thank you for joining us to discuss our second quarter 2026 earnings and outlook for the rest of the year. We are very pleased with our performance this quarter, achieving results above the high end of our guidance while executing on our strategic priorities. We delivered core FFO per share of $1.84, surpassing the high end of our guidance range, driven by sustained strength in our manufactured housing portfolio and the resilience of our RV portfolio and disciplined expense management throughout the organization. Based on our first half performance and continued confidence in the business, we are raising our outlook for the core business. These results, coupled with continued demand driven by long-term housing affordability trends, reinforce our confidence in our strategy and the compelling opportunities ahead. The fundamentals in our business remain strong across both manufactured housing and RV. MH fulfills a critical need for attainable housing, offering residents an attractive value proposition while limited new supply drives durable demand and long-term community value. Our RV platform offers a compelling value-oriented outdoor lifestyle for short- and long-term guests, supported by healthy demand and a limited supply of premier destinations. Across MH and RV, these attractive industry fundamentals, combined with the quality of Sun's portfolio, support high occupancy levels, resilient demand, and durable cash flow generation across our platform. In May, we announced the sale of our UK business, an important milestone that further simplifies our portfolio and sharpens our focus on our core manufacturer housing and RV platform. The transaction remains on track to close by the end of the year, Subject to customary closing conditions and regulatory improvements. Our positive performance remains anchored around the three core strategic priorities we introduced at the beginning of the year. Our first strategic priority is disciplined capital allocation. We focus on the highest return opportunities across organic growth, external investments, portfolio and community optimization, and shareholder returns to maximize long-term value. Our renewed $1 billion buyback program underscores our conviction in the underlying value of our company and our commitment to discipline capital allocation while maintaining strategic and financial flexibility. Our second strategic priority is optimizing our operating platform. Our strong operating performance reflects the benefit of the initiatives implemented over the past year as we simplify processes, enhance transparency, and improve productivity. These efforts strengthen our day-to-day operations, enhancing the experience we provide to our residents, guests, and team while creating a stronger foundation for sustainable long-term growth. Our third strategic priority is investing in our people, technology, and operating capabilities. We are improving Sun by investing in leadership, technology, and the capabilities that will support our long-term growth strategy. Last month, we were excited To welcome our new general counsel, Ileana McAlary. At the same time, we continue to invest in technology and automation initiatives aimed at improving productivity, increasing data visibility, and enabling more informed decision-making across the universe. We believe these investments in our people and platform will drive greater operating efficiency while enhancing the resident and guest experience. Looking ahead, we believe the actions we have taken to simplify our portfolio, strengthen our balance sheet, and invest in our people and systems positions us well to deliver consistent long-term growth and increase shareholder value. Furthermore, I'd like to comment on the 21st Century Road to Housing Act, which was recently signed into law. We are encouraged by Sun's positioning to help be part of the solution to the country's housing affordability needs. The law includes several provisions specific to manufacturer housing that we view as constructive for our industry. Among other things, the law preserves investment in the sector, gives manufacturers more design flexibility, and encourages state and local governments to open the door to more MH homes. While it will take time for these changes to play out, we see them as a positive step for affordable housing. I want to thank our team members for their continued dedication and commitment. Their hard work and execution continue to differentiate us, and these results are a direct reflection of the outstanding work taking place across our organization and in our communities every day. With that, I'll turn the call over to John and Fernando to discuss our operating results and financials in more detail. Thank you, Charles.

Performance was driven by solid revenue growth.