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Sun Communities Inc. Message Board

  • bythepark.98660 bythepark.98660 Oct 3, 2013 8:45 PM Flag

    Relative to ELS, why has SUI not performed ... Management or what ?

    Question for Maverick...

    I am retired now, but for many years I have watched SUI from afar, and recently picked up some SUI-A for dependable income.

    Now I am considering starting a position in SUI, but first would like get a sense of why SUI continues to be such a non-performer.

    Are there any catalysts for change on the horizon ??

    Thank you for any insights,

    Alan

    Sentiment: Hold

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    • SUI has great cash flow that easily covers its interest obligations and dividends. It is my top pick in apartment reits.

    • Relative to ELS just depends upon your time period! SUI has done similarly, or better than ELS for the periods of 5 years or less based on yahoo charts. Stock price, not operations, or div increases or such.

      There are many things to like about SUI, but at present prices I do not expect significant, or any, capital gains. (I may get some - those prices in the mid 50s were an absolute gift given the current dividend - but what I currently hold is not for that purpose. I did however, buy SUI for capital gains at much lower prices.) SUI was within spitting distance of this price 10+ years ago. SUI has not raised its dividend since early 2005. What does the future hold?

      A catalyst is improving the performance of the acquired properties, given SUI has been on a huge acquisition binge and also deleveraged some. Stay tuned and keep an eye on the quarterlies.

      SUI-A is not bad at present prices. dar has enumerated the problems with pfds, and they are real, so you have to be careful.

    • I was hoping to buy more under 42

 
SUI
70.05+0.45(+0.65%)May 27 4:03 PMEDT