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ELS Reports Drop in 2Q Net Income, FFO Rises

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July 17, 2012 by   Leave a Comment

Equity LifeStyle Properties Inc. (ELS) today (July 17) announced results for the three and six months ended June 30, 2012.

According to a news release, Funds From Operations (FFO) in the second quarter were $47.8 million, or $1.05 per share, compared to $28.2 million, or $0.76 per share for the same period in 2011. For the six months ended June 30, FFO was $106.6 million, or $2.35 per share, compared to $69.7 million, or $1.91 per share for the same period in 2011.

For the quarter, net income available to common stockholders totaled $2.1 million, or $0.05 per share, compared to $6.8 million, or $0.20 per share for the same period in 2011. For the six months, net income available to common stockholders totaled $14.5 million, or $0.35 per share, compared to $25.8 million, or $0.80 per share for the same period in 2011.

As of July 16, Chicago-based ELS owns or has an interest in 382 properties in 32 states and British Columbia consisting of 141,077 sites.

To view the entire report click here.

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