Sun Communities (SUI)
Market Price (5/21/2026): $123.0 | Market Cap: $15.1 BilSector: Financials | Industry: Diversified Capital Markets
Sun Communities (SUI)
Market Price (5/21/2026): $123.0Market Cap: $15.1 BilSector: FinancialsIndustry: Diversified Capital Markets
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 6.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 5.9% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 39% Low stock price volatilityVol 12M is 19% Megatrend and thematic driversMegatrends include Changing Demographics & Affordability, and Experience Economy & Recreation. Themes include Affordable Lifestyle Communities, and Outdoor Hospitality & Leisure. | Weak multi-year price returns2Y Excs Rtn is -26%, 3Y Excs Rtn is -76% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 96x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.0% Key risksSUI key risks include [1] a challenging capital structure, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 6.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 5.9% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 39% |
| Low stock price volatilityVol 12M is 19% |
| Megatrend and thematic driversMegatrends include Changing Demographics & Affordability, and Experience Economy & Recreation. Themes include Affordable Lifestyle Communities, and Outdoor Hospitality & Leisure. |
| Weak multi-year price returns2Y Excs Rtn is -26%, 3Y Excs Rtn is -76% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 96x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.0% |
| Key risksSUI key risks include [1] a challenging capital structure, Show more. |
Qualitative Assessment
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1. Sun Communities reported strong Q1 2026 earnings, beating analyst expectations for Core Funds From Operations (Core FFO) and revenue.
The company announced a Core FFO of $1.40 per share, surpassing the consensus estimate of $1.31 by 6.87%. Total revenues also exceeded expectations, reaching $507.9 million against an estimated $473.3 million, marking an 8.0% increase year-over-year. Furthermore, North America Same Property Net Operating Income (NOI) grew by 6.3%, and the company raised its full-year 2026 Core FFO guidance to a range of $6.87–$7.07 per share. This positive company-specific performance provided significant underlying support for the stock.
2. Strategic share repurchases bolstered investor confidence and supported the stock price.
During the first quarter of 2026, Sun Communities repurchased approximately 0.5 million shares of its common stock. These buybacks were executed at an average price of $126.45 per share, totaling $60.1 million, demonstrating the company's commitment to returning value to shareholders and supporting its stock valuation.
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Stock Movement Drivers
Fundamental Drivers
The -2.6% change in SUI stock from 1/31/2026 to 5/20/2026 was primarily driven by a -29.8% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 126.30 | 122.99 | -2.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,262 | 2,292 | 1.3% |
| Net Income Margin (%) | 45.0% | 61.0% | 35.5% |
| P/E Multiple | 15.4 | 10.8 | -29.8% |
| Shares Outstanding (Mil) | 124 | 123 | 1.1% |
| Cumulative Contribution | -2.6% |
Market Drivers
1/31/2026 to 5/20/2026| Return | Correlation | |
|---|---|---|
| SUI | -2.6% | |
| Market (SPY) | 7.4% | 22.2% |
| Sector (XLF) | -2.8% | 23.5% |
Fundamental Drivers
The -1.2% change in SUI stock from 10/31/2025 to 5/20/2026 was primarily driven by a -28.8% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 124.44 | 122.99 | -1.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,262 | 2,292 | 1.3% |
| Net Income Margin (%) | 45.0% | 61.0% | 35.5% |
| P/E Multiple | 15.1 | 10.8 | -28.8% |
| Shares Outstanding (Mil) | 124 | 123 | 1.1% |
| Cumulative Contribution | -1.2% |
Market Drivers
10/31/2025 to 5/20/2026| Return | Correlation | |
|---|---|---|
| SUI | -1.2% | |
| Market (SPY) | 9.3% | 21.1% |
| Sector (XLF) | -0.5% | 24.3% |
Fundamental Drivers
The 5.6% change in SUI stock from 4/30/2025 to 5/20/2026 was primarily driven by a 1381.9% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 116.45 | 122.99 | 5.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,240 | 2,292 | 2.3% |
| Net Income Margin (%) | 4.1% | 61.0% | 1381.9% |
| P/E Multiple | 159.9 | 10.8 | -93.3% |
| Shares Outstanding (Mil) | 127 | 123 | 3.3% |
| Cumulative Contribution | 5.6% |
Market Drivers
4/30/2025 to 5/20/2026| Return | Correlation | |
|---|---|---|
| SUI | 5.6% | |
| Market (SPY) | 35.2% | 16.8% |
| Sector (XLF) | 7.6% | 24.9% |
Fundamental Drivers
The 0.4% change in SUI stock from 4/30/2023 to 5/20/2026 was primarily driven by a 841.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 122.54 | 122.99 | 0.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,033 | 2,292 | -24.4% |
| Net Income Margin (%) | 6.5% | 61.0% | 841.7% |
| P/E Multiple | 76.9 | 10.8 | -86.0% |
| Shares Outstanding (Mil) | 123 | 123 | 0.6% |
| Cumulative Contribution | 0.4% |
Market Drivers
4/30/2023 to 5/20/2026| Return | Correlation | |
|---|---|---|
| SUI | 0.4% | |
| Market (SPY) | 85.2% | 28.6% |
| Sector (XLF) | 63.5% | 37.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SUI Return | 41% | -30% | -4% | -5% | 7% | -1% | -5% |
| Peers Return | 59% | -32% | 15% | 10% | -10% | 2% | 26% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| SUI Win Rate | 67% | 25% | 33% | 50% | 58% | 60% | |
| Peers Win Rate | 75% | 28% | 53% | 52% | 38% | 32% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| SUI Max Drawdown | -11% | -43% | -35% | -18% | -15% | -11% | |
| Peers Max Drawdown | -10% | -35% | -19% | -13% | -21% | -12% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ELS, UMH, AMH, INVH, AVB. See SUI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/20/2026 (YTD)
How Low Can It Go
| Event | SUI | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.4% | -9.5% |
| % Gain to Breakeven | 34.0% | 10.5% |
| Time to Breakeven | 282 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.5% | -33.7% |
| % Gain to Breakeven | 65.3% | 50.9% |
| Time to Breakeven | 402 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.8% | -3.7% |
| % Gain to Breakeven | 13.4% | 3.9% |
| Time to Breakeven | 83 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -17.6% | -0.2% |
| % Gain to Breakeven | 21.4% | 0.2% |
| Time to Breakeven | 56 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.8% | -17.9% |
| % Gain to Breakeven | 26.3% | 21.8% |
| Time to Breakeven | 39 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -11.7% | -15.4% |
| % Gain to Breakeven | 13.2% | 18.2% |
| Time to Breakeven | 20 days | 125 days |
In The Past
Sun Communities's stock fell -7.6% during the 2025 US Tariff Shock. Such a loss loss requires a 8.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | SUI | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.4% | -9.5% |
| % Gain to Breakeven | 34.0% | 10.5% |
| Time to Breakeven | 282 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.5% | -33.7% |
| % Gain to Breakeven | 65.3% | 50.9% |
| Time to Breakeven | 402 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.8% | -17.9% |
| % Gain to Breakeven | 26.3% | 21.8% |
| Time to Breakeven | 39 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -61.2% | -53.4% |
| % Gain to Breakeven | 157.8% | 114.4% |
| Time to Breakeven | 155 days | 1085 days |
In The Past
Sun Communities's stock fell -7.6% during the 2025 US Tariff Shock. Such a loss loss requires a 8.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Sun Communities (SUI)
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Here are 1-2 brief analogies for Sun Communities (SUI):
- Equity Residential for manufactured home communities and RV resorts.
- Marriott for RV park and manufactured home sites.
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- Manufactured Home Community Site Leases: Sun Communities leases developed land lots for residents to place their manufactured homes within planned communities, offering long-term residency and various amenities.
- Recreational Vehicle (RV) Resort Site Leases: The company provides rental sites for recreational vehicles, catering to short-term or seasonal stays within amenity-rich resort communities.
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```htmlSun Communities (SUI) sells primarily to individuals rather than other companies. Based on its business model of owning and operating communities, its major customer categories are:
- Manufactured Home Residents: Individuals and families who lease sites within Sun Communities' manufactured home communities, often on a long-term basis, where they place their own manufactured homes.
- RV Resort Guests: Individuals and families who rent sites for their recreational vehicles at Sun Communities' RV resorts, typically for short-term vacations, seasonal stays, or extended periods.
- Marina Slip Holders: Individuals who own boats and lease slips or moorings at Sun Communities' marinas for docking and storage.
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- Cavco Industries, Inc. (CVCO)
- Skyline Champion Corporation (SKY)
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Charles D. Young, Chief Executive Officer
Charles D. Young was appointed Chief Executive Officer of Sun Communities effective October 1, 2025. He brings over 25 years of leadership experience in real estate operations, development, and investment management. Prior to joining Sun Communities, he served as President of Invitation Homes Inc., a role he held since March 2023, and also previously as Chief Operating Officer of Invitation Homes. Mr. Young has held senior roles at Starwood Waypoint Homes and Mesa Development, and earlier in his career, he worked at Goldman Sachs in real estate principal investment and mergers and acquisitions. He holds degrees from Stanford University.
Fernando Castro-Caratini, Interim Chief Financial Officer, Executive Vice President, Treasurer and Secretary
Fernando Castro-Caratini assumed the role of Interim Chief Financial Officer, Executive Vice President, Treasurer and Secretary of Sun Communities effective February 4, 2026. He previously served as the company's Executive Vice President, Chief Financial Officer, Treasurer and Secretary since May 2022, and prior to that, joined Sun Communities in November 2016 as Senior Vice President, Finance & Capital Markets. Before joining Sun Communities, Mr. Castro-Caratini worked at Citigroup within the Real Estate & Lodging Investment Banking Group, where his focus included strategic advisory, mergers and acquisitions, and initial public offerings for real estate and lodging clients. His background includes advising private equity clients on real estate matters. He holds a B.A. from Washington University in St. Louis and an MBA from New York University's Stern School of Business.
John B. McLaren, President and Chief Operating Officer
John B. McLaren was appointed President of Sun Communities on November 6, 2024, and expanded his role to include Chief Operating Officer responsibilities on March 9, 2026. He is a veteran of the company, having been with Sun Communities since 2005, and has over 20 years of experience with the company in various roles. His previous positions include Chief Operating Officer (from 2008 to 2022) and President (from 2014 to 2022). Mr. McLaren is recognized for overseeing the acquisition and integration of approximately 350 manufactured housing and recreational vehicle communities during his tenure as COO. He also served as Executive Vice President from 2008 to 2014 and as Senior Vice President of Sun Home Services, a subsidiary, since August 2005. Prior to joining Sun Communities, he served as Regional Vice President at Apartment Investment & Management Company (AIMCO).
Gary A. Shiffman, Non-Executive Chairman
Gary A. Shiffman currently serves as the Non-Executive Chairman of Sun Communities, a role he transitioned into on October 1, 2025. He was instrumental in the company's early development, co-founding it in 1975 with his father, Milton M. Shiffman. Mr. Shiffman served as Chairman and Chief Executive Officer since Sun Communities became a public entity in 1993 until October 2025. He has more than thirty years of active involvement in the management, acquisition, construction, and development of manufactured housing communities. His leadership has overseen the acquisition, rezoning, development, expansion, and marketing of numerous manufactured home, recreational vehicle communities, and marinas. Through family-related interests, Mr. Shiffman also holds significant direct investments across various real estate asset classes, including office, multi-family, industrial, residential, and retail.
Aaron Weiss, Executive Vice President of Corporate Strategy and Business Development
Aaron Weiss has served as the Executive Vice President of Corporate Strategy and Business Development for Sun Communities since October 2021. In this role, he is responsible for coordinating the company's corporate strategy, planning, and business development initiatives. Mr. Weiss possesses a comprehensive background in real estate, lodging, finance, and strategic advisory. Before joining Sun Communities, he was a Managing Director in Citigroup's Real Estate & Lodging Investment Banking Group, where he provided strategic and financing advice to various clients, including private equity firms, and public and private real estate and lodging companies.
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The key risks to Sun Communities (SUI) are primarily driven by macroeconomic factors, regulatory changes, and financial leverage inherent in real estate investment trusts.Key Risks to Sun Communities (SUI)
- Economic and Market Conditions: Sun Communities is significantly exposed to general economic conditions, including inflation, interest rate fluctuations, and local real estate market dynamics. Adverse changes in these conditions can negatively impact occupancy rates, rental rates, and overall property values across its portfolio of manufactured housing, RV, and marina communities. Rising interest rates, in particular, increase borrowing costs and can affect the company's ability to refinance existing debt or secure new financing for acquisitions and developments.
- Regulatory and Legislative Changes: The company faces risks associated with evolving regulatory and legislative landscapes. This includes potential changes in zoning laws, rent control legislation, and environmental regulations, all of which could impact its operational flexibility and profitability. Additionally, maintaining its status as a Real Estate Investment Trust (REIT) requires compliance with complex tax regulations, and any failure to adhere to these could have significant financial implications. There has also been mention of legal risks, including a securities investigation.
- Debt and Financial Health: As a REIT, Sun Communities carries substantial debt obligations. This leverage can limit its operational flexibility, increase its vulnerability during economic downturns, and expose it to potential increases in borrowing costs if interest rates rise. Challenges in the ability of potential manufactured home buyers to obtain financing also pose a risk, as it can impact sales and occupancy within those communities. Furthermore, the company has faced financial challenges such as a high dividend payout ratio and a declining operating margin.
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```htmlSun Communities, Inc. (SUI) operates primarily in two main addressable markets in North America: manufactured housing communities and recreational vehicle (RV) resorts and campgrounds.
Manufactured Housing Communities
- United States: The U.S. manufactured homes market was valued at approximately USD 14.6 billion in 2026 and is projected to reach USD 19.8 billion by 2031.
- Canada: The Canadian manufactured homes market was valued at approximately USD 3.09 billion in 2025. It is estimated to grow to USD 3.31 billion in 2026 and is projected to reach USD 4.66 billion by 2031.
Recreational Vehicle (RV) Parks and Campgrounds
- United States: The campground and RV park industry in the United States had a revenue of approximately USD 10.7 billion in 2023. This revenue is projected to trend upwards at a Compound Annual Growth Rate (CAGR) of 1.4%, reaching USD 11.4 billion over the next five years.
- Canada: The market size of the Campgrounds & RV Parks in Canada is approximately USD 3.3 billion in 2025.
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Here are the expected drivers of future revenue growth for Sun Communities (SUI) over the next 2-3 years:- North American Same-Property Net Operating Income (NOI) Growth: Sun Communities anticipates continued growth in same-property NOI across its North American portfolio, particularly in manufactured housing (MH) and recreational vehicle (RV) communities. This growth is expected to be fueled by disciplined expense management, ongoing rental increases, and sustained high occupancy rates. North American same-property NOI growth is projected at approximately 4.5% for 2026, with manufactured housing expected to grow by 5.9% and RV by 0.9%.
- Strategic Acquisitions and Portfolio Expansion: The company has a history of pursuing accretive growth opportunities through strategic acquisitions. In 2025, Sun Communities acquired 14 manufactured housing and annual RV communities for $457 million, and also purchased freehold interests in 32 UK properties, enhancing its long-term financial flexibility. While 2026 guidance does not explicitly include future acquisitions, the company's strong balance sheet and focus on attractive growth opportunities suggest this will remain a driver.
- Conversion of Transient RV Sites to Annual Stays: Sun Communities is actively pursuing a strategy to convert transient RV stays into more stable and predictable annual leases. This conversion process aims to optimize revenue streams and improve the overall stability of its RV segment.
- Operational Optimization and Digital Transformation: The company is focused on enhancing operational efficiency through sharpened execution and increased digital integration across its business processes. This strategic emphasis on data-driven decision-making and a unified digital infrastructure is expected to contribute to revenue growth by streamlining operations and improving performance.
- Sustained Demand in Manufactured Housing: The manufactured housing segment continues to be a robust driver, benefiting from the fundamental demand for attainable housing solutions. This sector is characterized by strong performance, high occupancy rates (98.1% for the same-property MH portfolio), and consistent rent growth, positioning it as a resilient component of the company's revenue.
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Share Repurchases
- In 2025, Sun Communities repurchased approximately 4.3 million shares of its common stock for a total of $539.1 million.
- The Board of Directors authorized a stock repurchase program of up to $1.0 billion, effective April 30, 2025, and expiring April 30, 2026.
Share Issuance
- In 2021, Sun Communities completed a follow-on offering of 4,025,000 shares of common stock at a price of $185.00 per share, generating gross proceeds of approximately $744.6 million.
Outbound Investments
- In 2025, Sun Communities completed the initial closing of the sale of Safe Harbor Marinas to an affiliate of Blackstone Inc. for approximately $5.25 billion in pre-tax cash proceeds, marking a strategic exit from the marina business.
- During 2025, the company acquired 14 manufactured housing and annual RV communities for $457.0 million.
- In 2025, Sun Communities purchased the freehold titles to 32 UK properties, previously held under ground leases, for approximately $387 million, which strengthened its long-term financial position in the UK.
Capital Expenditures
- Net cash used for investing activities in 2025 was $602.9 million, primarily driven by an increase in cash deployed for property acquisitions.
- The company plans to selectively pursue future acquisition and development opportunities, supported by capital allocated into 1031 exchange escrow accounts.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | EEFT | Euronet Worldwide | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04242026 | HOMB | Home BancShares | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.5% | 1.5% | 0.0% |
| 03312026 | HBAN | Huntington Bancshares | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 7.1% | 7.1% | 0.0% |
| 03312026 | NP | Neptune Insurance | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 3.9% | 3.9% | 0.0% |
| 03272026 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -4.0% |
| 04302024 | SUI | Sun Communities | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 19.7% | 15.1% | 0.0% |
| 09302022 | SUI | Sun Communities | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.5% | -10.1% | -12.5% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 47.61 |
| Mkt Cap | 13.6 |
| Rev LTM | 2,078 |
| Op Inc LTM | 468 |
| FCF LTM | 812 |
| FCF 3Y Avg | 774 |
| CFO LTM | 867 |
| CFO 3Y Avg | 835 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.7% |
| Rev Chg 3Y Avg | 5.8% |
| Rev Chg Q | 5.4% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 2.8% |
| Op Inc Chg 3Y Avg | 7.4% |
| Op Mgn LTM | 26.0% |
| Op Mgn 3Y Avg | 26.0% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 40.9% |
| CFO/Rev 3Y Avg | 41.3% |
| FCF/Rev LTM | 36.4% |
| FCF/Rev 3Y Avg | 39.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 13.6 |
| P/S | 6.5 |
| P/Op Inc | 26.3 |
| P/EBIT | 19.9 |
| P/E | 27.6 |
| P/CFO | 15.2 |
| Total Yield | 7.6% |
| Dividend Yield | 4.0% |
| FCF Yield 3Y Avg | 5.4% |
| D/E | 0.4 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.4% |
| 3M Rtn | 0.8% |
| 6M Rtn | 5.8% |
| 12M Rtn | -5.7% |
| 3Y Rtn | 7.0% |
| 1M Excs Rtn | -2.4% |
| 3M Excs Rtn | -7.1% |
| 6M Excs Rtn | -6.3% |
| 12M Excs Rtn | -30.7% |
| 3Y Excs Rtn | -77.2% |
Segment Financials
Assets by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Manufactured housing (MH) communities | 5,755 | 5,941 | 8,899 | 5,974 | 5,353 |
| Assets held for sale & discontinued operations, net | 4,414 | ||||
| Recreational vehicle (RV) communities | 3,779 | 3,961 | 4,035 | 3,873 | 3,231 |
| United Kingdom (UK) | 2,601 | 2,729 | |||
| Marina | 4,310 | 4,150 | 3,647 | 2,622 | |
| Total | 16,549 | 16,941 | 17,084 | 13,494 | 11,207 |
Price Behavior
| Market Price | $122.99 | |
| Market Cap ($ Bil) | 15.1 | |
| First Trading Date | 12/09/1993 | |
| Distance from 52W High | -9.5% | |
| 50 Days | 200 Days | |
| DMA Price | $127.81 | $125.54 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -3.8% | -2.0% |
| 3M | 1YR | |
| Volatility | 15.1% | 19.1% |
| Downside Capture | 21.37 | 3.62 |
| Upside Capture | -1.89 | 5.47 |
| Correlation (SPY) | 20.3% | 14.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.20 | 0.25 | 0.22 | 0.25 | 0.27 | 0.45 |
| Up Beta | 0.37 | 0.29 | 0.32 | 0.14 | 0.32 | 0.52 |
| Down Beta | 1.43 | 0.86 | 0.99 | 0.85 | 0.66 | 0.39 |
| Up Capture | 2% | -9% | 6% | 16% | 10% | 13% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 21 | 36 | 68 | 136 | 387 |
| Down Capture | -68% | 30% | -12% | -1% | 7% | 72% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 22 | 28 | 57 | 116 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SUI | |
|---|---|---|---|---|
| SUI | 3.1% | 19.1% | 0.03 | - |
| Sector ETF (XLF) | 1.6% | 14.6% | -0.10 | 24.9% |
| Equity (SPY) | 26.2% | 12.1% | 1.62 | 15.0% |
| Gold (GLD) | 40.2% | 26.8% | 1.24 | 8.6% |
| Commodities (DBC) | 46.2% | 18.7% | 1.89 | -10.4% |
| Real Estate (VNQ) | 11.1% | 13.4% | 0.54 | 57.8% |
| Bitcoin (BTCUSD) | -27.4% | 41.8% | -0.65 | 5.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SUI | |
|---|---|---|---|---|
| SUI | -2.0% | 24.8% | -0.10 | - |
| Sector ETF (XLF) | 8.6% | 18.6% | 0.35 | 41.3% |
| Equity (SPY) | 14.1% | 17.0% | 0.65 | 43.2% |
| Gold (GLD) | 19.5% | 18.0% | 0.89 | 13.0% |
| Commodities (DBC) | 11.1% | 19.4% | 0.46 | 6.3% |
| Real Estate (VNQ) | 4.0% | 18.8% | 0.11 | 73.8% |
| Bitcoin (BTCUSD) | 9.1% | 55.6% | 0.37 | 15.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SUI | |
|---|---|---|---|---|
| SUI | 9.0% | 25.6% | 0.36 | - |
| Sector ETF (XLF) | 12.7% | 22.2% | 0.53 | 42.0% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 48.0% |
| Gold (GLD) | 13.1% | 16.0% | 0.68 | 12.9% |
| Commodities (DBC) | 7.9% | 17.9% | 0.36 | 11.1% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 76.4% |
| Bitcoin (BTCUSD) | 67.1% | 66.9% | 1.06 | 10.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/24/2026 | 1.0% | 3.9% | -1.9% |
| 10/29/2025 | 2.8% | 4.6% | 7.2% |
| 7/30/2025 | 6.4% | 7.5% | 7.7% |
| 2/26/2025 | -0.6% | -0.0% | -4.4% |
| 11/6/2024 | -6.5% | -4.5% | -5.4% |
| 7/31/2024 | 5.1% | 1.7% | 4.9% |
| 2/20/2024 | 1.7% | -0.1% | 0.3% |
| 10/25/2023 | 4.6% | 10.2% | 21.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 8 |
| # Negative | 6 | 7 | 8 |
| Median Positive | 2.2% | 3.9% | 6.1% |
| Median Negative | -2.9% | -4.2% | -4.3% |
| Max Positive | 9.4% | 13.9% | 22.1% |
| Max Negative | -6.5% | -9.6% | -15.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 10/25/2022 | 10-Q |
| 06/30/2022 | 07/26/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 4/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Core FFO per Share | 1.71 | 1.75 | 1.79 | ||||
| Q2 2026 Diluted EPS | 0.62 | 0.66 | 0.7 | ||||
| 2026 Core FFO per Share | 6.87 | 6.97 | 7.07 | 0.6% | Raised | Guidance: 6.93 for 2026 | |
| 2026 Diluted EPS | 2.16 | 2.26 | 2.36 | ||||
| 2026 North America Same Property NOI Growth | 4.2% | 4.7% | 5.2% | 4.4% | 0.2% | Raised | Guidance: 4.5% for 2026 |
| 2026 MH NOI Growth | 5.7% | 6.2% | 6.7% | ||||
| 2026 RV NOI Growth | 0.0% | 0.9% | 1.8% | ||||
| 2026 UK Same Property NOI Growth | 0.9% | 2.15% | 3.4% | -2.3% | -0.0% | Lowered | Guidance: 2.2% for 2026 |
Prior: Q4 2025 Earnings Reported 2/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Core FFO per Share | 1.24 | 1.28 | 1.32 | -5.2% | Lowered | Actual: 1.35 for Q4 2025 | |
| 2026 Core FFO per Share | 6.83 | 6.93 | 7.03 | 4.5% | Raised | Actual: 6.63 for 2025 | |
| 2026 North American Same Property NOI Growth | 4.5% | -11.8% | -0.6% | Lowered | Actual: 5.1% for 2025 | ||
| 2026 UK Same Property NOI Growth | 2.2% | -45.7% | -1.8% | Lowered | Actual: 4.05% for 2025 | ||
| 2026 North America MH Rental Rate Increase | 0.05 | 0 | 0 | Affirmed | Guidance: 0.05 for 2026 | ||
| 2026 North America Annual RV Rental Rate Increase | 0.04 | 0 | 0 | Affirmed | Guidance: 0.04 for 2026 | ||
| 2026 UK Rental Rate Increase | 0.04 | 0 | 0 | Affirmed | Guidance: 0.04 for 2026 | ||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lewis, Clunet R | Direct | Sell | 3062026 | 136.01 | 3,800 | 516,838 | 2,287,280 | Form | |
| 2 | Lewis, Clunet R | Wife's IRA | Sell | 3062026 | 136.15 | 3,200 | Form | |||
| 3 | Lewis, Clunet R | Direct | Sell | 3032026 | 136.51 | 7,000 | 955,560 | 2,814,397 | Form | |
| 4 | Shiffman, Gary A | Owned by irrevocable trust. | Sell | 12182025 | 123.53 | 156,875 | Form | |||
| 5 | Lewis, Clunet R | Direct | Sell | 11122025 | 126.24 | 4,000 | 504,957 | 3,282,220 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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