What does rental home revenue — income from real property mean?

Revenue generated from the land and real property components of the rental home segment.

How do you interpret rental home revenue — income from real property?

An increase suggests improved utilization of the land base or successful implementation of site-level rent increases across the rental home portfolio.

How does rental home revenue — income from real property compare across companies?

Comparable to 'site rent' or 'base rent' metrics found in manufactured housing and RV park REITs, reflecting the core real estate component of the business.

Sun Communities SUI Rental Home Revenue — Income from real property

Discontinued — last reported Q2 '21

Similar metrics at other companies

AMHRental And Other Property Related Revenues — Revenue (Gross)

$277.69M+8.2%

AMHRents and other single-family property revenues — Rents and other single-family property revenues

$325.97M+11.2%

AMHRent From Single Family Properties — Revenue (Gross)

$232.38M+10.2%

ELSHome Sales and Rentals Operations — Rental income

$3.79M+11.8%

ARIRental Properties — Real Estate Rental Income

$3.74M—

NRZ

NRZRental — Revenue

——

Other financials

Income statement

See full

Revenue$507.9M+8.0%

Gross profit$664.6M+28.6%

Net income-$6.3M+84.9%

EPS (diluted)-$0.07+79.4%

Balance sheet

See full

Cash & equivalents$497.0M+410%

Total debt$45.5M-5.8%

Total equity$6.8B-2.4%

Total assets$12.4B-25.1%

Cash flow

See full

Operating cash flow$269.3M+10.4%

CapEx$230.3M+36.9%

Free cash flow-$46.5M-330%

Valuation

See full

Market cap$14.6B-2.3%

Enterprise value$14.15B-4.9%

P/E10.2×-32.7×

P/S6.3×-0.3×

Profitability

See full

Gross margin86.5%-4.4pp

Net margin62%+46.6pp

FCF margin-6.1%-9.6pp

Returns & leverage

See full

Return on equity20.9%+15.9pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Sun Communities in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.

The official record: Sun Communities’s 10-Q, filed October 22, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does rental home revenue — income from real property mean?: Revenue generated from the land and real property components of the rental home segment.
How do you interpret rental home revenue — income from real property?: An increase suggests improved utilization of the land base or successful implementation of site-level rent increases across the rental home portfolio.
How does rental home revenue — income from real property compare across companies?: Comparable to 'site rent' or 'base rent' metrics found in manufactured housing and RV park REITs, reflecting the core real estate component of the business.