Equity LifeStyle Properties Inc. reported improved financials for its fourth quarter and full year, ended Dec. 31.
The company said fourth-quarter funds from operations (FFO) were $50.3 million, or $1.11 per share, up from $44.8 million, or 99 cents per share in the year ago quarter. For the year ended, FFO was $210 million, or $4.62 per share, compared to $147.5 million, or $3.66 per share, for the same period in 2011.
For the three months, net income available to common stockholders totaled $24.3 million or 58 cents per share, compared to a net loss of $0.2 million, or 0 cents per share, for the same period in 2011. For the year, net income totaled $54.8 million, or $1.32 per share, compared to $22.8 million, or 64 cents per share, for the same period in 2011.
Total revenues for the quarter increased to $171.93 million from $162.32 million in the year-ago quarter.
Fourth-quarter property operating revenues, excluding deferrals, were $167.9 million, compared to $161.1 million in the same period of 2011. Property operating revenues, excluding deferrals, for the year were $688.1 million, compared to $578.2 million for the previous year.
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