Is SUI halal?

What the company does

Sun Communities is a REIT of manufactured-housing and RV resort communities (US, Canada, UK); the Safe Harbor marinas were sold in 2025. Its money comes from site rent.

What was checked

The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.

• Business activity

  Activity needs clarification: REIT - Residential

• Interest-bearing debt / market cap

  limit 30%

  Interest-bearing debt $4.05B ÷ current market cap $14.88B = 27.2%

  27.2%

  Pass

• Cash & investments / market cap

  limit 30%

  Cash + interest-bearing securities $165.20M ÷ current market cap $14.88B = 1.1%

  1.1%

  Pass

• Non-compliant income / total revenue

  limit 5%

  Interest income $48.50M ÷ annual revenue $2.26B (2025) = 2.1%

  2.1%

  Pass

Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.

For information (AAOIFI 3/1 note): cash + receivables are 4.5% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.

In the lists

In the S&P 500

Not in the S&P 500

Held by funds

SPRE 5.19% · HLAL 0.04%