Sun Communities (SUI) came out with quarterly funds from operations (FFO) of $1.41 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to FFO of $1.34 per share a year ago.
Sun Communities (SUI 6.49%) made a big splash during the pandemic. The real estate investment trust (REIT) expanded its niche property focus into the marina sector by acquiring Safe Harbor Marinas for about $2.1 billion.
There's a bit of a stigma surrounding manufactured home communities. Many people wouldn't consider living in one because they view them as less desirable than renting an apartment or single-family home.
Not all REITs are worth buying. Often, the most popular REITs are the least desirable. Here is an example of that.
Sun Communities (SUI -0.82%) is a manufactured housing real estate investment trust (REIT). However, that's not really the whole picture because these assets only make up a little more than half of the company's rent roll.
Roughly half of Sun Communities' (SUI -2.33%) business is about providing affordable housing. The rest is tied to lifestyle-based recreation.
Sun Communities offers a resilient investment in manufactured housing with inflation-resistant rental growth and high occupancy rates, despite recent near-term challenges. Management's cost-saving initiatives and expected rental growth in 2025 support the long-term investment thesis, alongside a solid balance sheet and a 3% dividend yield. SUI's valuation is attractive relative to historical levels and its close peer, offering potential for strong long-term returns from a traditionally stable property sector.
Sun Communities: Not Your Ordinary Residential Landlord
Over the past three years, Sun Communities' (SUI 0.84%) stock declined 36% while the S&P 500 rallied 31%. Even after including its reinvested dividends, the real estate investment trust (REIT) delivered a negative total return of 31%.
Dividend stocks are proven wealth creators. For example, if you invested just $100 into the average dividend stock 50 years ago, that investment would have grown to $8,756 five decades later (assuming you reinvested those dividends).
NEW YORK, NY / ACCESSWIRE / January 15, 2025 / If you suffered a loss on your Sun Communities, Inc. (NYSE:SUI) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / January 15, 2025 / If you suffered a loss on your Sun Communities, Inc. (NYSE:SUI) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.