Blue Orca announced a short position in Sun Communities, calling the company an “egregious mess of conflicts of interest and dubious executive behavior.” The short report contends Sun “manipulates critical financial disclosures to inflate adjusted funds from operation and organic growth.” Blue Orca claims Sun’s business is “growing far slower and generates far less AFFO than investors are led to believe.” Shares of Sun Communities are down 1% to $137.59 following the report.
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