SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Sun Communities Inc. (SUI) on Monday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Southfield, Michigan, said it had funds from operations of $153.4 million, or $1.19 per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.16 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 $27.4 million, or 22 cents per share.

The real estate investment trust, based in Southfield, Michigan, posted revenue of $671.3 million in the period.

Sun Communities expects full-year funds from operations in the range of $7.06 to $7.22 per share.

_____

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

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News