Sun Communities, Inc.SUI
NYSE•Real Estate•REIT - Residential
Sun Communities, Inc. became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange. As of March 31, 2026, the Company owned, operated, or had an interest in a portfolio of 515 developed MH, RV, and UK properties comprising approximately 179,300 developed sites in the U.S., Canada, and the U.K. Sun Communities, Inc. was incorporated in 1975 and is based in Southfield, United States.
Sun Communities, Inc. (SUI) reported trailing twelve months revenue of $2.34B as of March 2026, a 22.4% decline year-over-year. Quarterly revenue reached $507.90M, reflecting a contraction in sales.
Sun Communities, Inc. generated $1.45B in TTM net income, with quarterly EBITDA of $156.00M. The operating margin expanded from -9.0% to 4.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (4.6%) and net margin (-1.3%) indicates moderate non-operating costs. Net margin has improved from -8.8% a year ago, signaling stronger bottom-line efficiency.
SUI trades at a P/E of 10.7x (below the broader market average) and a P/S of 6.6x. The price-to-book ratio of 2.3x reflects a moderate premium to book value.
The company generated $269.30M in free cash flow over the trailing twelve months, a 93.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $12.36B in total assets with $1.79B in long-term debt against $6.75B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -5.4%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg -2.8x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
TTM revenue has contracted 21.5% — significant decline indicating deteriorating demand.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation