Independence Realty Trust, Inc. (IRT) vs Sun Communities, Inc. (SUI)

Independence Realty Trust, Inc. and Sun Communities, Inc. are both Reit Residential companies. Sun Communities, Inc. is the larger, with a market value of $13.5B against $3.5B — 3.8× the size. Sun Communities, Inc. has negative trailing earnings, so its P/E is not meaningful; Independence Realty Trust, Inc. trades at 79.3×. Sun Communities, Inc. grew revenue faster over the last twelve months: 3.64% against 3.46%. Sun Communities, Inc. has the higher net margin (59.5% vs 6.52%) and the lower return on invested capital (0.00% vs 1.21%). Both pay a dividend; Independence Realty Trust, Inc. yields more (4.12% vs 2.97%). Across the 22 metrics below, Independence Realty Trust, Inc. leads on 12 and Sun Communities, Inc. on 10.

Valuation

Metric IRT SUI Reit Residential median
P/E 79.30 n/m 28.48
P/S 5.16 5.87 5.52
P/B 0.99 2.38 1.89
Price to free cash flow 76.38 27.89 18.04
EV/EBITDA 15.71 36.62 15.74
EV/Sales 8.74 7.53 8.08
Earnings yield 1.26% (6.30%) 2.37%
Free cash flow yield 1.31% 3.59% 4.03%

Profitability

Metric IRT SUI Reit Residential median
Gross margin 58.73% 57.90% 58.73%
Operating margin 16.94% 20.57% 20.57%
Net margin 6.52% 59.53% 20.81%
Free cash flow margin 6.76% 0.00% 20.24%
Return on equity 1.24% 0.00% 6.86%
Return on assets 0.72% 0.00% 3.17%
Return on invested capital 1.21% 0.00% 2.03%

Growth

Metric IRT SUI Reit Residential median
Revenue growth (TTM) 3.46% 3.64% 2.66%
EPS growth (last fiscal year) 41.18% 1,426.76% —
Revenue growth, 5-year CAGR 25.42% 10.52% 7.53%
Net income growth, 5-year CAGR 30.81% 59.56% 3.76%

Health

Metric IRT SUI Reit Residential median
Debt to equity 0.70 0.70 0.78
Current ratio 1.06 2.52 0.54
Net debt to EBITDA 5.82 3.65 4.27

Dividend

Metric IRT SUI Reit Residential median
Dividend yield 4.12% 2.97% 4.63%
Payout ratio 1.81 1.96 1.35

Size

Metric IRT SUI Reit Residential median
Market cap 3.53b 13.54b 4.17b

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