Real Estate News

Sun Communities, Inc. Reports 2023 First Quarter Results

Real Property Revenue Increased 13.8%, Year-over-Year

Net Loss per Diluted Share of $0.24

Core FFO per Share of $1.23 Exceeded Midpoint of Guidance by 4.7%

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%

Southfield, MI, April 26, 2023 (GLOBE NEWSWIRE) -- Sun Communities, Inc.

Hersha Hospitality Trust Announces First Quarter 2023 Results

- First Quarter 2023 Net Loss of $(0.38) Per Share -

- First Quarter 2023 Adjusted Funds from Operations1 of $0.02 Per Share -

- Comparable Excluding Renovations Portfolio Growth to the First Quarter 2019 -

- ADR Growth of 20.9% -

- EBITDA Growth of 18.9% -

- EBITDA Margin Growth of 196 bps -

PHILADELPHIA, April 26, 2023 (GLOBE NEWSWIRE) -- Hersha Hospitality Trust (NYSE: HT) (“Hersha,” “Company,” “we” or “our”), owner of high-quality hotels in urban gateway markets and regional resort destinations, today announced results for the first quarter ended March31, 2023.

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