Sun Communities: Q1 Earnings Snapshot

SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Sun Communities Inc. (SUI) on Wednesday reported a key measure of profitability in its first quarter.

The Southfield, Michigan-based real estate investment trust said it had funds from operations of $158 million, or $1.23 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $30.1 million, or 24 cents per share.

The real estate investment trust, based in Southfield, Michigan, posted revenue of $651.2 million in the period.

For the current quarter ending in June, Sun Communities expects its per-share funds from operations to range from $1.90 to $1.98.

The company expects full-year funds from operations in the range of $7.22 to $7.42 per share.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SUI at

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up