Sun Communities Beats Analysts EPS Estimate by $0.03

Sun Communities credit postedDailyBusinessNewsMHProNewsReal estate investment trust (REIT) and manufactured home community (MHC) owner Sun Communities, Inc. released its quarterly financials, reporting $0.85 earnings per share (EPS), beating analysts’ consensus by $0.03, as thecerbatgem informs MHProNews. Although revenue was $140 million, well below the consensus estimate of $165.78 million, revenue was up 15 percent on a year-over-year basis.

For the same period in the previous year, Sun earned $0.87 EPS.

Sun (NYSE:SUI) paid a quarterly dividend of $0.65 on July 15, representing a $2.60 annualized dividend with a yield of 3.25%, to shareholders of record on June 30, 2016. In today’s trading, Sun stock slipped -0.51 percent to close at $78.00.

MHProNews knows Sun owns and operates a mix of 337 manufactured home and recreational vehicle communities comprised of 117,000 developed sites. ##

(Image credit: Sun Communities, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

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