Friday, Sun Communities Inc. (SUI) said its third-quarter funds from operations or FFO increased to $12.48 million or $0.60 per share from $11.32 million or $0.55 per share in the prior year period.
Adjusted funds from operations for the quarter rose to $14.12 million or $0.68 per share from $12.82 million or $0.62 in the year-ago period. On average, 3 analysts polled by Thomson Reuters expected the company to report earnings of $0.68 per share for the quarter.
Net loss attributable to the company for the quarter narrowed to $2.03 million or $0.11 per share from $5.49 million or $0.30 per share in the previous year. Adjusted net loss for the quarter narrowed to $0.92 million from $3.26 million in the earlier period.
Total revenue for the quarter grew to $63.39 million from $61.25 million in the comparable period. Two analysts estimated revenues of $53.94 million for the quarter.
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