Sun Communities down after Blue Orca discloses short position

Sun Communities

25/09/2024 16:22

** Shares of real estate investment firm (REIT) Sun
Communities  SUI.N  down 2.7% after activist investor Blue Orca
Capital discloses short position 
    ** Blue Orca alleges co, valued at about $17.5 billion,
under-reports its recurring capital expenditure disclosures to
inflate cash flow numbers
    ** Short seller says co's shares could be overvalued by
about 48%
    **  Sun Communities was not immediately available for
comment

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))