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

Equities

SUI

US8666741041

Residential REITs

Market Closed - Nyse
Other stock markets
 04:00:01 2024-05-28 pm EDT 		5-day change 1st Jan Change
116.2 USD -0.82% Intraday chart for Sun Communities, Inc. -4.97% -13.06%
May. 01 RBC Cuts Price Target on Sun Communities to $130 From $142, Keeps Outperform Rating MT
Apr. 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 14,601 - -
Enterprise Value (EV) 1 17,238 20,878 30,788 24,823 24,367 22,314 22,100 21,697
P/E ratio 83.4 x 113 x 62.5 x 71.5 x -78.2 x 61.8 x 50.1 x 49.5 x
Yield 2% 2.08% 1.58% 2.46% - 3.25% 3.43% 3.73%
Capitalization / Revenue 11 x 11.7 x 11.1 x 5.97 x 5.16 x 4.35 x 4.21 x 4.08 x
EV / Revenue 13.6 x 14.9 x 13.5 x 8.36 x 7.56 x 6.65 x 6.38 x 6.06 x
EV / EBITDA 27.7 x 31 x 31.3 x 20.8 x 19.2 x 17.1 x 16.4 x 15.5 x
EV / FCF - - -21.9 x - -115 x 23.9 x 25.4 x 24.7 x
FCF Yield - - -4.57% - -0.87% 4.18% 3.94% 4.05%
Price to Book - - 3.76 x 2.27 x 2.4 x 2.11 x 2.19 x 2.28 x
Nbr of stocks (in thousands) 92,661 107,563 119,992 123,890 124,445 124,634 - -
Reference price 2 150.1 152.0 210.0 143.0 133.6 116.2 116.2 116.2
Announcement Date 2/19/20 2/17/21 2/21/22 2/22/23 2/20/24 - - -
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 3,355 3,465 3,583
EBITDA 1 623.3 673 982.1 1,194 1,266 1,307 1,348 1,404
EBIT 1 295.3 296.2 459.4 553.8 606.1 586.6 594.9 632.2
Operating Margin 23.36% 21.18% 20.21% 18.65% 18.8% 17.48% 17.17% 17.65%
Earnings before Tax (EBT) 1 - - - 308.4 -217.5 230.6 280.9 309
Net income 1 160.3 131.6 380.2 242 -213.3 240.7 290.1 300.7
Net margin 12.68% 9.41% 16.73% 8.15% -6.61% 7.17% 8.37% 8.39%
EPS 2 1.800 1.340 3.360 2.000 -1.710 1.879 2.319 2.348
Free Cash Flow 1 - - -1,406 - -212.5 933 870.5 879
FCF margin - - -61.85% - -6.59% 27.81% 25.12% 24.53%
FCF Conversion (EBITDA) - - - - - 71.37% 64.57% 62.62%
FCF Conversion (Net income) - - - - - 387.58% 300.06% 292.31%
Dividend per Share 2 3.000 3.160 3.320 3.520 - 3.777 3.988 4.329
Announcement Date 2/19/20 2/17/21 2/21/22 2/22/23 2/20/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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 2025 Q2
Net sales 1 542.4 548.5 814.3 932.6 674.3 651.2 863.5 983.2 726.7 671.3 897.2 999.4 790.5 710.4 938.8
EBITDA 1 208.6 221 328.4 408.1 236.3 237.4 339.7 433 256 234 345.2 453.7 276 239.9 352.4
EBIT 1 63.89 72.5 178.2 256.8 71.6 79 175.6 270.4 78 68.7 165.8 256 97.34 67.7 163.5
Operating Margin 11.78% 13.22% 21.88% 27.54% 10.62% 12.13% 20.34% 27.5% 10.73% 10.23% 18.48% 25.61% 12.31% 9.53% 17.42%
Earnings before Tax (EBT) 1 - - 84.9 187.9 6.8 - 95.2 182.7 -91.9 -29.1 87.35 161.8 34.5 -15.87 79.13
Net income 1 12.83 0.7 74 162.6 4.7 -30.1 89.8 163.1 -80.9 -27.4 81.62 167.8 21.47 -7.002 92.58
Net margin 2.37% 0.13% 9.09% 17.44% 0.7% -4.62% 10.4% 16.59% -11.13% -4.08% 9.1% 16.79% 2.72% -0.99% 9.86%
EPS 2 0.1100 0.0100 0.6100 1.320 0.0400 -0.2400 0.7200 1.310 -0.6500 -0.2200 0.6584 1.380 0.0982 -0.0596 0.7344
Dividend per Share 2 0.8300 0.8800 0.8800 0.8800 0.8800 0.9300 0.9300 0.9300 - - 0.9492 0.9492 0.9492 0.9959 1.006
Announcement Date 2/21/22 4/25/22 7/25/22 10/24/22 2/22/23 4/26/23 7/26/23 10/25/23 2/20/24 4/29/24 - - - - -
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 7,713 7,499 7,096
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.342 x 6.737 x 5.695 x 5.953 x 6.109 x 5.9 x 5.562 x 5.055 x
Free Cash Flow 1 - - -1,406 - -213 933 871 879
ROE (net income / shareholders' equity) 4.63% 2.82% 6.26% 3.35% -2.86% 3.5% 3.78% 4.54%
ROA (Net income/ Total Assets) - - - - -1.25% 1.3% 1.7% 1.98%
Assets 1 - - - - 17,012 18,517 17,102 15,158
Book Value Per Share 2 - - 55.90 63.00 55.70 55.10 53.00 50.90
Cash Flow per Share 2 - - - - 6.130 9.970 8.170 8.620
Capex 1 - - 2,159 - 1,003 339 172 176
Capex / Sales - - 95.01% - 31.1% 10.1% 4.98% 4.92%
Announcement Date 2/19/20 2/17/21 2/21/22 2/22/23 2/20/24 - - -
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
117.2 USD
Average target price
138.9 USD
Spread / Average Target
+18.54%
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.
-13.06% 14.6B
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-3.09% 15.56B
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UDR INC. Stock UDR Inc.
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EQUITY LIFESTYLE PROPERTIES, INC. Stock Equity LifeStyle Properties, Inc.
-13.17% 11.53B
CAMDEN PROPERTY TRUST Stock Camden Property Trust
+2.24% 11.04B
Residential REITs
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  4. Financials Sun Communities, Inc.