Essex Property Trust, Inc. (ESS) vs Sun Communities, Inc. (SUI)
A side-by-side comparison of Essex Property Trust, Inc. and Sun Communities, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 3, 2026. Differences are shown without an overall score or investment verdict.
Total return — ESS vs SUI
growth of $100 · dividends reinvested · last 10yESS vs SUI: by the numbers
- •ESS is the larger company ($17.26B vs $13.65B market cap).
- •ESS is profitable (21.63% net margin) while SUI runs a net loss (-39.28%).
- •ESS grew revenue faster over the past five years (6.01% vs 3.84% CAGR).
- •SUI pays the higher dividend yield (3.90% vs 3.84%).
Metrics side by side
Valuation
| Metric | ESS | SUI |
|---|---|---|
| P/E ratio | 41.78 | N/A |
| Forward P/E | 47.79 | N/A |
| PEG ratio | 11.29 | N/A |
| P/S ratio | 8.96 | 6.21 |
| P/B ratio | 3.24 | 2.47 |
| EV / EBITDA | 20.40 | 16.49 |
| FCF yield | N/A | 6.08% |
For REITs like Essex Property Trust, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Sun Communities, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | ESS | SUI |
|---|---|---|
| Gross margin | 69.38% | 9.26% |
| Operating margin | 43.88% | 25.14% |
| Net margin | 21.63% | -39.28% |
| ROE | 7.83% | -15.64% |
| ROIC | 4.34% | 4.05% |
Dividends
| Metric | ESS | SUI |
|---|---|---|
| Dividend yield | 3.84% | 3.90% |
| Payout ratio | 160.50% | N/A |
Essex Property Trust, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Sun Communities, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | ESS | SUI |
|---|---|---|
| Revenue CAGR (5Y) | 6.01% | 3.84% |
| EPS CAGR (5Y) | 3.68% | 51.92% |
| FCF CAGR (5Y) | N/A | 2.75% |
| Total return CAGR (5Y) | -0.21% | -6.65% |
Frequently asked
- Which has grown faster, ESS or SUI?
- Over the past five years, ESS grew revenue faster — ESS at a 6.01% CAGR versus SUI at 3.84%.
- Does ESS or SUI pay a bigger dividend?
- ESS yields 3.84% and SUI yields 3.90% based on trailing dividends and the latest price.
- Is ESS or SUI more profitable?
- ESS runs the higher net margin — ESS at 21.63% versus SUI at -39.28%.
- How have ESS and SUI total returns compared?
- Over the past 10 years, ESS delivered 5.35% and SUI delivered 6.73% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Essex Property Trust & Sun Communities appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 3, 2026.