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Equity Lifestyle Posts FFO, Sales Gains For 3Q

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October 23, 2012 by   Leave a Comment

Equity LifeStyle Properties Inc. (ELS) reported that its third-quarter Funds From Operations (FFO) were $53.2 million, or $1.17 per share, compared to $33.0 million, or 76 cents per share, for the same period in 2011.

For the nine months, ended Sept. 30, FFO was $159.7 million, or $3.52 per share, compared to $102.7 million, or $2.64 per share, or the same period in 2011.

Net income available to common stockholders in the third quarter totaled $16 million, or 39 cents per share, compared to a net loss of $2.9 million, or 7 cents per share for the same period in 2011. Revenues for the quarter rose to $181.8 million from $164 million in the prior year quarter.

For the third quarter, property operating revenues, excluding deferrals, were $176.5 million, compared to $156.9 million in the same period of 2011. Property operating revenues, excluding deferrals, for the nine months were $520.2 million, compared to $417.0 million a year ago.

For the third quarter, core property operating revenues increased approximately 1.8% and income from core property operations increased approximately 2.6% as compared to the previous year. For the nine months ended September 30, 2012, core property operating revenues increased approximately 1.8% and income from core property operations increased approximately 2.6%.

To view the entire report click here.

 

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