Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price113.75 USD
Fair value94.64
Ethical score70.0/100
Our investment reviews on this name
2026-07-02Read Markdown126.95-10.4% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Sun Communities Inc holds its Markdown at $113.75. The statistical read favours the sellers, held for 4 days.
As held on the ledger · 2026-09-18
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 4 days
Price at the screen
$113.75
Valuation
145.83 trailing · 35.50 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.77
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
34.01%
Below 33%
Interest-bearing debt is 34.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
8.08%
Below 49%
Money owed to the company is 8.1% of assets, under the 49% limit.
Pass
Revenue purity
2.15%
Below 5%
Only 2.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Sun Communities's business is in a permissible area, but its interest-bearing debt is about 34% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-18 screen. The gold marker is the market price at the same screen. The price runs 16.8% above the base estimate.
Third-party analyst targets: 19 covering, consensus Buy. The average target sits +21% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Park rents keep rising yet shares price in perfection
Picture families towing caravans into one of Sun Communities' 515 sites across the US and UK. The REIT collects steady lot fees from manufactured homes and RVs, revenue is growing 9 percent, and margins sit at 60 percent. Yet the shares trade at 121 dollars against our fair value of 89, a 44 times forward multiple that leaves no margin for error.
We pass. The narrow moat and zero return on equity tell us the business cannot compound capital the way the valuation assumes. Analyst targets sit higher, but our numbers show the market already prices in flawless execution and low rates forever.
Real estate cycles can turn fast once borrowing costs stay elevated or occupancy slips. Currency moves on the UK assets add another layer of volatility. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SUI trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown$113.75-6.2%Entry 6
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 3%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (18 analysts) rates it buy, with a mean price target of $142.
2026-09-14Markdown$121.24-2.3%Entry 5
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 3%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (18 analysts) rates it buy, with a mean price target of $142.
2026-08-14Markdown$124.09-2.3%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 3%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (18 analysts) rates it buy, with a mean price target of $142.
2026-07-18Markdown$126.95+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 3%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (18 analysts) rates it buy, with a mean price target of $142.
2026-07-03Markdown$126.95+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markdown$126.95Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
