Sun Communities Reports Q1 Net Loss

(RTTNews) - Sun Communities, Inc. (SUI), a real estate investment trust specializing in manufactured housing, recreational vehicle communities, and marinas, reported a net loss of $42.8 million for the first quarter ended March 31, compared to a loss of $27.4 million a year earlier. The quarterly loss per share was $0.34, widening from a $0.22 loss in the prior-year period.

Revenue for the quarter was largely flat at $470.2 million versus $469.2 million in Q1 2024, with a 3.2 percent increase in core manufactured housing revenue offset by declines in transient real property, home sales, and ancillary income.

Funds from operations per share stood at $1.06, down from $1.12, while core FFO per share rose to $1.26 from $1.19.

SUI closed Monday's trading at $130.40 down $1.85 or 1.40 percent on the New York Stock Exchange.