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ELS Reports Drop in 2Q Net Income, FFO Rises

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July 17, 2012 by   Comments Off on ELS Reports Drop in 2Q Net Income, FFO Rises

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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