Sun Communities: Q3 Earnings Snapshot
SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Sun Communities Inc. (SUI) on Wednesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Southfield, Michigan, said it had funds from operations of $329 million, or $2.57 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 $163.1 million, or $1.31 per share.
The real estate investment trust, based in Southfield, Michigan, posted revenue of $983.2 million in the period.
For the current quarter ending in December, Sun Communities expects its per-share funds from operations to range from $1.28 to $1.36.
The company expects full-year funds from operations in the range of $7.05 to $7.13 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