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7 Stocks to Buy During a Housing Downturn - 1 of 7

 
 

#1 - Sun Communities (NYSE:SUI)

Sun Communities (NYSE:SUI) owns and operates manufactured home communities that also includes recreational vehicle (RV) and marina resorts. One aspect of manufactured home communities is that many include a combination of homes that the resident owns and others that are available for rent. And historically, rent prices tend to increase for about a year after home prices crash.

That means that at the beginning of a housing downturn investing in companies with exposure to rental properties can be a way to diversify your portfolio. SUI stock is down 30% in 2022, but it’s been a consistent performer over the last five years rewarding investors with a 56% gain outside of the dividend. And the company is expected to grow revenue at around a 10% rate in the next five years.

And with a dividend yield right around 2.5% which is in line with the S&P 500 average. And with an annual payout of $3.52 per share, Sun Communities gives investors a good reason to own the stock even in a housing downturn.

About Sun Communities

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.
Current Price
$128.14
Consensus Rating
Hold
Ratings Breakdown
5 Buy Ratings, 8 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$139.08 (8.5% Upside)

 

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