| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 25 | — | 17.8x | Bottom tier | |
Growth | 14 | -3.7% | 7.1% | Bottom tier | |
Quality | 21 | 4.5% | 4.5% | Bottom tier | |
Safety | 46 | 5.6x | 2.6x | Around median | |
Capital Return | 78 | 6.95% | 2.12% | Top tier | |
Momentum | 32 | -4.6% | 2.9% | Bottom tier | |
Sentiment | 46 | 5 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Sun Communities, Inc. is a real estate investment trust focused on manufactured housing communities and recreational vehicle resorts in North America, generating income from site and home rentals, annual and transient stays at recreational vehicle resorts, home sales, and community-related fees. Manufactured housing community occupancy exceeded 98% in fiscal 2026 Q2, while annual sites provided a recurring revenue base for the recreational vehicle business; by contrast, transient stays account for 46% to 47% of annual recreational vehicle revenue contribution in the third quarter alone.
In fiscal 2026 Q2, the company generated core funds from operations of $1.84 per share, exceeding the high end of its guidance by $0.05. North American same-property net operating income across manufactured housing and recreational vehicles increased 6%, led by manufactured housing, with an 8.8% increase in net operating income and 6.2% revenue growth, while the recreational vehicle business performed in line with guidance.
The latest available EDGAR figures for fiscal 2026 Q1 show revenue of $507.9 million, a net loss of $6.4 million, and a loss per share of $0.07. By comparison, fiscal 2025 recorded revenue of $2.3 billion, net income of $1.4 billion, and earnings per share of $10.84; however, the classification of the United Kingdom portfolio as discontinued operations and the recasting of prior periods make it important to separate the performance of the core business from divestiture effects when reading accounting earnings.
The average analyst price target is $139.8, within a wide range of $126 to $150, with a consensus rating of “Buy.” The average is slightly above the 52-week range high of $137.85, while the highest target exceeds that high and the lowest target falls within the range of $115.9 to $137.85, reflecting meaningful variation in value estimates.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Manufactured housing was the strongest driver, with same-property net operating income increasing 8.8% and revenue growing 6.2%. Occupancy remained above 98%, and management of payroll, utility, tax, and procurement expenses helped results exceed expectations. As a result, core funds from operations reached $1.84 per share, $0.05 above the high end of guidance.
Sun Communities announced the sale in May 2026 with the aim of simplifying its portfolio and focusing on manufactured housing and recreational vehicles. The company is targeting a closing by the end of 2026, subject to satisfying customary closing conditions and obtaining regulatory approvals. Fiscal 2026 guidance includes a full United Kingdom contribution and approximately $86 million of core funds from operations at the midpoint, and does not reflect the effects of completing the transaction, its timing, or the use of its proceeds.
Recreational vehicle same-property net operating income performed in line with guidance in fiscal 2026 Q2, and the company expects annual growth of 1%. The platform completed approximately 100 net conversions to annual sites during the quarter, following more than 8,000 conversions from transient to annual sites since 2020. By contrast, annual-site revenue growth slowed from approximately 6.5% to 3.8% between the two quarters, and management continues to balance annual and transient sites based on the profitability of each community.
Automated analysis for informational purposes only — not investment advice.
The debt balance was approximately $4.1 billion as of June 30, 2026, with an average interest rate of 3.3% and an average maturity of 6.9 years. The net debt-to-recurring earnings before interest, taxes, depreciation, and amortization ratio was 3.9 times, within the target range of 3.5 to 4.5 times. The company has repurchased approximately $800 million of shares since the program began, and approximately $800 million remained available under the authorization as of July 28, 2026.
The company raised the midpoint of its North American same-property net operating income growth forecast to 4.9%, 20 basis points above its previous guidance. It raised its manufactured housing forecast to 6.5%, set recreational vehicle growth at 1%, and increased the midpoint of core funds from operations guidance to $7.02 per share. The increase followed the delivery of $1.84 per share in fiscal 2026 Q2, exceeding the high end of guidance by $0.05.
Management said on July 28, 2026, that the legislation includes constructive provisions for manufactured housing, including preserving investment in the sector and giving manufacturers greater design flexibility. It specifically cited the removal of the permanent-chassis requirement and encouragement for state and local authorities to make more manufactured homes available. Sun believes its 30 years of development experience may create opportunities, but emphasized that the operating impact will take time to emerge.
