Professional
Added to YB: 2024-09-26
Pitch date: 2024-09-25
SUI [bearish]
Sun Communities, Inc.
-1.72%
current return
Author Info
No bio for this author
Company Info
Sun Communities, Inc. is a REIT that, as of September 30, 2025, owned, operated, or had an interest in a portfolio of 501 developed properties.
Market Cap
$16.1B
Pitch Price
$127.10
Price Target
N/A
Dividend
3.20%
EV/EBITDA
15.57
P/E
-46.94
EV/Sales
6.20
Sector
Residential REITs
Category
special_situation
Is Sun Communities Overvalued? Uncovering Financial Manipulations and Governance Problems
SUI short: CEO's undisclosed $4M loan from director, $700K from another. CEO involved in $63M life insurance scandal. Inflates AFFO by 60% (FY22) & 48% (FY23) via underreporting capex. Organic growth overstated by 200bps (FY22) & 169bps (FY23). SEC action in 2000s. 6x Net Debt/Recurring EBITDA. Governance issues, slow growth, overvalued.
Read full article (4 min)