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SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Sun Communities Inc. (SUI) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The Southfield, Michigan-based real estate investment trust said it had funds from operations of $173.2 million, or $1.34 per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.34 per share.
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 $80.9 million, or 65 cents per share.
The real estate investment trust, based in Southfield, Michigan, posted revenue of $726.7 million in the period.
For the year, the company reported funds from operations of $915.3 million. Revenue was reported as $3.22 billion.
For the current quarter ending in March, Sun Communities expects its per-share funds from operations to range from $1.14 to $1.19.
The company expects full-year funds from operations in the range of $7.04 to $7.24 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