Stock SUI SUN COMMUNITIES, INC.
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Financials Sun Communities, Inc.

Equities

SUI

US8666741041

Residential REITs

Market Closed - Nyse
Other stock markets
 16:00:01 2024-05-01 EDT 		5-day change 1st Jan Change
112.8 USD +1.31% Intraday chart for Sun Communities, Inc. -6.05% -15.62%
05-01 RBC Cuts Price Target on Sun Communities to $130 From $142, Keeps Outperform Rating MT
04-30 Transcript : Sun Communities, Inc., Q1 2024 Earnings Call, Apr 30, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,908 16,344 25,195 17,716 16,632 13,875 - -
Enterprise Value (EV) 1 17,238 20,878 30,788 24,823 24,367 21,466 21,437 21,450
P/E ratio 83.4 x 113 x 62.5 x 71.5 x -78.2 x 57.8 x 48.2 x 47.3 x
Yield 2% 2.08% 1.58% 2.46% - 3.38% 3.59% 3.9%
Capitalization / Revenue 11 x 11.7 x 11.1 x 5.97 x 5.16 x 4.19 x 4.02 x 3.88 x
EV / Revenue 13.6 x 14.9 x 13.5 x 8.36 x 7.56 x 6.48 x 6.21 x 6 x
EV / EBITDA 27.7 x 31 x 31.3 x 20.8 x 19.2 x 16.4 x 15.9 x 15.3 x
EV / FCF - - -21.9 x - -115 x 28.4 x 24.4 x 23.6 x
FCF Yield - - -4.57% - -0.87% 3.52% 4.1% 4.23%
Price to Book - - 3.76 x 2.27 x 2.4 x 2.03 x 2.16 x 2.31 x
Nbr of stocks (in thousands) 92,661 107,563 119,992 123,890 124,445 124,642 - -
Reference price 2 150.1 152.0 210.0 143.0 133.6 111.3 111.3 111.3
Announcement Date 20-02-19 21-02-17 22-02-21 23-02-22 24-02-20 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,264 1,398 2,273 2,970 3,225 3,310 3,452 3,573
EBITDA 1 623.3 673 982.1 1,194 1,266 1,312 1,349 1,406
EBIT 1 295.3 296.2 459.4 553.8 606.1 630 566.8 585.4
Operating Margin 23.36% 21.18% 20.21% 18.65% 18.8% 19.03% 16.42% 16.38%
Earnings before Tax (EBT) 1 - - - 308.4 -217.5 259.7 271 303.4
Net income 1 160.3 131.6 380.2 242 -213.3 242.4 264.7 300.8
Net margin 12.68% 9.41% 16.73% 8.15% -6.61% 7.32% 7.67% 8.42%
EPS 2 1.800 1.340 3.360 2.000 -1.710 1.925 2.309 2.351
Free Cash Flow 1 - - -1,406 - -212.5 755 878.5 908
FCF margin - - -61.85% - -6.59% 22.81% 25.45% 25.41%
FCF Conversion (EBITDA) - - - - - 57.54% 65.14% 64.56%
FCF Conversion (Net income) - - - - - 311.43% 331.94% 301.82%
Dividend per Share 2 3.000 3.160 3.320 3.520 - 3.759 3.996 4.337
Announcement Date 20-02-19 21-02-17 22-02-21 23-02-22 24-02-20 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 684.3 542.4 548.5 814.3 932.6 674.3 651.2 863.5 983.2 726.7 671.3 896.5 984.7 784.9 711.1
EBITDA 1 314.5 208.6 221 328.4 408.1 236.3 237.4 339.7 433 256 234 344.9 442.9 268.9 251.5
EBIT 1 187.4 63.89 72.5 178.2 256.8 71.6 79 175.6 270.4 78 68.7 154.4 236.7 85.36 59.19
Operating Margin 27.39% 11.78% 13.22% 21.88% 27.54% 10.62% 12.13% 20.34% 27.5% 10.73% 10.23% 17.22% 24.04% 10.88% 8.32%
Earnings before Tax (EBT) 1 - - - 84.9 187.9 6.8 - 95.2 182.7 -91.9 -29.1 73.06 154.4 14.13 -15.87
Net income 1 231.8 12.83 0.7 74 162.6 4.7 -30.1 89.8 163.1 -80.9 -27.4 75.38 158.7 17.18 -12.45
Net margin 33.87% 2.37% 0.13% 9.09% 17.44% 0.7% -4.62% 10.4% 16.59% -11.13% -4.08% 8.41% 16.12% 2.19% -1.75%
EPS 2 2.000 0.1100 0.0100 0.6100 1.320 0.0400 -0.2400 0.7200 1.310 -0.6500 -0.2200 0.5948 1.263 0.1206 -0.1352
Dividend per Share 2 0.8300 0.8300 0.8800 0.8800 0.8800 0.8800 0.9300 0.9300 0.9300 - 0.9492 0.9400 0.9400 0.9400 1.003
Announcement Date 21-10-25 22-02-21 22-04-25 22-07-25 22-10-24 23-02-22 23-04-26 23-07-26 23-10-25 24-02-20 24-04-29 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,330 4,534 5,594 7,107 7,735 7,591 7,562 7,575
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.342 x 6.737 x 5.695 x 5.953 x 6.109 x 5.785 x 5.607 x 5.386 x
Free Cash Flow 1 - - -1,406 - -213 755 879 908
ROE (net income / shareholders' equity) 4.63% 2.82% 6.26% 3.35% -2.86% 3.4% 3.93% 4.77%
ROA (Net income/ Total Assets) - - - - -1.25% 1.5% 1.75% 2.08%
Assets 1 - - - - 17,012 16,162 15,154 14,437
Book Value Per Share 2 - - 55.90 63.00 55.70 54.70 51.60 48.10
Cash Flow per Share 2 - - - - 6.130 7.640 8.230 8.740
Capex 1 - - 2,159 - 1,003 250 168 171
Capex / Sales - - 95.01% - 31.1% 7.55% 4.87% 4.79%
Announcement Date 20-02-19 21-02-17 22-02-21 23-02-22 24-02-20 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Sun Communities, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
111.3 USD
Average target price
143.2 USD
Spread / Average Target
+28.64%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Residential REITs

1st Jan change Capi.
SUN COMMUNITIES, INC. Stock Sun Communities, Inc.
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MID-AMERICA APARTMENT COMMUNITY, INC. Stock Mid-America Apartment Community, Inc.
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AMERICAN HOMES 4 RENT Stock American Homes 4 Rent
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-0.75% 10.85B
APARTMENT INCOME REIT CORP. Stock Apartment Income REIT Corp.
+10.71% 5.56B
Residential REITs
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  4. Financials Sun Communities, Inc.