Sun Communities: Q1 Earnings Snapshot

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

The real estate investment trust, based in Southfield, Michigan, said it had funds from operations of $162.8 million, or $1.34 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 net income of $700,000, or 1 cent per share.

The real estate investment trust, based in Southfield, Michigan, posted revenue of $548.5 million in the period.

For the current quarter ending in July, Sun Communities expects its per-share funds from operations to range from $1.97 to $2.01.

The company expects full-year funds from operations in the range of $7.20 to $7.32 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SUI at https://www.zacks.com/ap/SUI