Mid-America Apartment Communities, Inc. (MAA) vs Sun Communities, Inc. (SUI)

Mid-America Apartment Communities, Inc. and Sun Communities, Inc. are both Reit Residential companies. Mid-America Apartment Communities, Inc. and Sun Communities, Inc. are of similar size ($14.0B and $13.5B). Sun Communities, Inc. has negative trailing earnings, so its P/E is not meaningful; Mid-America Apartment Communities, Inc. trades at 34.6×. Sun Communities, Inc. grew revenue faster over the last twelve months: 3.64% against 0.85%. Sun Communities, Inc. has the higher net margin (59.5% vs 18.0%) and the lower return on invested capital (0.00% vs 3.33%). Both pay a dividend; Mid-America Apartment Communities, Inc. yields more (4.67% vs 2.97%). Across the 22 metrics below, Mid-America Apartment Communities, Inc. leads on 11 and Sun Communities, Inc. on 11.

Valuation

Metric MAA SUI Reit Residential median
P/E 34.61 n/m 28.48
P/S 6.19 5.87 5.52
P/B 2.46 2.38 1.89
Price to free cash flow 24.80 27.89 18.04
EV/EBITDA 15.56 36.62 15.74
EV/Sales 8.73 7.53 8.08
Earnings yield 2.89% (6.30%) 2.37%
Free cash flow yield 4.03% 3.59% 4.03%

Profitability

Metric MAA SUI Reit Residential median
Gross margin 58.39% 57.90% 58.73%
Operating margin 26.88% 20.57% 20.57%
Net margin 18.01% 59.53% 20.81%
Free cash flow margin 24.97% 0.00% 20.24%
Return on equity 6.86% 0.00% 6.86%
Return on assets 3.35% 0.00% 3.17%
Return on invested capital 3.33% 0.00% 2.03%

Growth

Metric MAA SUI Reit Residential median
Revenue growth (TTM) 0.85% 3.64% 2.66%
EPS growth (last fiscal year) (15.81%) 1,426.76% —
Revenue growth, 5-year CAGR 5.65% 10.52% 7.53%
Net income growth, 5-year CAGR 12.02% 59.56% 3.76%

Health

Metric MAA SUI Reit Residential median
Debt to equity 1.02 0.70 0.78
Current ratio 0.09 2.52 0.54
Net debt to EBITDA 4.27 3.65 4.27

Dividend

Metric MAA SUI Reit Residential median
Dividend yield 4.67% 2.97% 4.63%
Payout ratio 1.04 1.96 1.35

Size

Metric MAA SUI Reit Residential median
Market cap 13.95b 13.54b 4.17b

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