Added to YB: 2024-03-20
Pitch date: 2023-12-31
SUI [neutral]
Sun Communities, Inc.
+1.2%
current return
Author Info
No bio for this author
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Company Info
Established in 1975, 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 under the symbol: SUI.
Market Cap
$15.7B
Pitch Price
$122.42
Price Target
N/A
Dividend
3.27%
EV/EBITDA
15.31
P/E
-45.95
EV/Sales
6.09
Sector
Residential REITs
Category
special_situation
Show full summary:
Third Avenue Real Estate Value Fund Portfolio Holding - Sun Communities, Inc.
SUI selling Ingenia stake & non-core assets to focus on core, close NAV gap vs peer. FPH debt exchange offer 99% accepted, cutting $100M debt, extending maturity to 2028, adding amortization. Unlocks value in scarce land holdings, cheap vs implied price.
Read full article (1 min)