Sun Communities Inc (SUI)
Pitch Summary: Conflict of interest; dubious behavior by executives (CEO received undisclosed $4mil loan); CEO with a history of fraudulent activities; inflated AFFO; share price is inflated by ~50%; heavily levered (6.0x Net Debt / Recurring EBITDA); BSD Analysis: Sun Communities is a REIT focused on manufactured housing, RV parks, and marinas. Bears argue the […]
