Sun Communities: Q2 Earnings Snapshot

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

August 2, 2022
8:04 AM

SOUTHFIELD, Mich. (AP) _ Sun Communities Inc. (SUI) on Monday reported a key measure of profitability in its second quarter.The Southfield, Michigan-based real estate investment trust said it had funds from operations of $254.6 million, or $2.02 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 $74 million, or 61 cents per share.The real estate investment trust, based in Southfield, Michigan, posted revenue of $814.