2023-04-26 16:47:04 ET
- Sun Communities press release ( NYSE: SUI ): Q1 FFO of $1.23 beats by $0.04 .
- Revenue of $651.2M (+18.7% Y/Y) beats by $40.88M .
- Real Property Revenue Increased 13.8%, Year-over-Year.
- Total Same Property NOI Grew 6.7%, Exceeding Internal Expectations
- Strong Demand and Effective Expense Management Drove Outperformance
- Same Property Adjusted Occupancy for MH and RV Increased 190 Basis Points, Year-over-Year
- Solid Transient-to-Annual RV Conversions of 524 Sites
- Reiterating Full-Year Core FFO per Share Guidance for 2023 of $7.22 - $7.42
- Expecting Total Same Property NOI Growth of 5.0% - 6.0%.
For further details see:
Sun Communities FFO of $1.23 beats by $0.04, revenue of $651.2M beats by $40.88M