05:29 PM EDT, 04/29/2024 (MT Newswires) -- Sun Communities ( SUI ) reported Q1 core funds from operations Monday of $1.19 per diluted share, down from $1.23 a year earlier.

Analysts polled by Capital IQ expected $0.97.

Revenue in the quarter ended March 31 rose to $671.3 million from $651.2 million a year earlier.

Analysts surveyed by Capital IQ expected $677.7 million.

The company expects Q2 core FFO of $1.83 to $1.91 per diluted share and narrowed the 2024 outlook to $7.06 to $7.22 from $7.04 to $7.24. Analysts surveyed by Capital IQ expect adjusted FFO of $1.71 in Q2 and $6.13 in 2024.

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