2024-03-05 16:11:53 ET
Summary
- Sun Communities is a non-traditional residential REIT that focuses on mobile home parks, RV resorts, and marinas.
- The company has consistently raised rental rates and maintained high occupancy rates, indicating affordability for tenants.
- Sun Communities has strong revenue growth, cash flow generation, and a history of dividend hikes, but its high valuation may deter some investors.
Business Overview
Sun Communities ( SUI ) is a non-traditional residential REIT that specifically focuses on mobile home parks, RV resorts and marinas. The company's properties could be either all inclusive (also known as all age communities) or senior citizens only (also known as 55+ communities). As traditional housing becomes less affordable and a lot of people get priced out of owning a traditional home, a lot of people are choosing these non-traditional types of residential arrangements which come with lower costs and possibly more flexibility. Typically the residents will purchase their own mobile home, manufactured home, RV or boat and pay rent to the landowner to be able to put their home on the property. This is basically what the company does for the most part. ...
Read the full article on Seeking Alpha
For further details see:
Sun Communities: Growth At A High Price