Sun Communities Beats ‘Street’s Q4 Estimate

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February 25, 2011 by   Comments Off on Sun Communities Beats ‘Street’s Q4 Estimate

Sun Communities Inc. announced its quarterly results on Thursday (Feb. 24).

The company reported 78 cents earnings per share for the quarter, beating the Thomson Reuters consensus estimate of 77 cents by a penny. During the same quarter in 2010, the company posted 70 cents earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis, American Banking & Marketing News reported.

Total revenues were $263.1 million, up $6.5 million or 2.6%.

Sun Communities Inc. is a self-administered and self-managed real estate investment trust (REIT). The company owns, operates and develops 124 manufactured housing communities, four RV parks and eight MH/RV communities  concentrated in the Midwestern, South and Southeast.

Shares of Sun Communities Inc.  traded down 1.69% during mid-day trading on Thursday, hitting $33.09. Sun Communities Inc has a 52- week low of $18.81 and a 52-week high of $35.11. The stock’s 50-day moving average is $33.50 and its 200-day moving average is $32.27. On average, analysts predict that Sun Communities Inc will post 82 cents earnings per share next quarter. The company has a market cap of $648.5 million.

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