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ELS: Equity LifeStyle Properties, Inc. (NYSE: ELS)

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Equity LifeStyle Properties, Inc. (NYSE: ELS) (referred to herein as “we,” “us,” and “our”) newly stated results for the quarter and nine months finished September 30, 2k19. All Common Stock and OP units in addition to for each share results reflect the two-for-one stock split that was accomplished on October 15, 2k19. In Addition To, all for each share results are stated on a fully diluted basis unless otherwise noted.

Financial Results for the Quarter and Nine Months finished September 30, 2k19

For the quarter finished September 30, 2k19, total revenues raised $14.50M, or 5.60 percent, to $271.20M contrast to $256.70M for a similar period in 2k18. For the quarter finished September 30, 2k19, net income available for Common Stockholders raised $8.40M, or $0.040 for each Common Share, to $64.50M, or $0.350 for each Common Share, a contrast to $56.10M, or $0.310 for each Common Share, for the similar period in 2k18.

For the nine months finished September 30, 2k19, total revenues raised $35.40M, or 4.80 percent, to $778.60M in contrast to $743.20M for the similar period in 2k18. For the nine months finished September 30, 2k19, net income available for Common Stockholders raised $61.80M, or $0.330 for each Common Share, to $224.20M, or $1.240 for each Common Share, a contrast to $162.40M, or $0.910 for each Common Share, for the similar period in 2k18.

Non-GAAP Financial Measures and Portfolio Performance

For the quarter finished September 30, 2k19, Funds from Operations (“FFO”) available for Common Stock and OP Unit holders raised $10.90M, or $0.050 for each Common Share, to $108.6M, or $0.560 for each Common Share, contrast to $97.70M, or $0.51 for each Common Share, for the similar period in 2k18. For the nine months finished September 30, 2k19, FFO available for Common Stock and OP Unit holders raised $24.90M, or $0.120 for each Common Share, to $306.40M, or $1.600 for each Common Share, contrast to $281.50M, or $1.480 for each Common Share, for the similar period in 2k18.

For the quarter finished September 30, 2k19, Normalized Funds from Operations (“Normalized FFO”) available for Common Stock and OP Unit holders raised $8.80M, or $0.040 for each Common Share, to $102.70M, or $0.530 for each Common Share, contrast to $93.90M, or $0.490 for each Common Share, for the similar period in 2k18. For the nine months finished September 30, 2k19, Normalized FFO available for Common Stock and OP Unit holders raised $26.70M, or $0.130 for each Common Share, to $302.30M, or $1.580 for each Common Share, contrast to $275.60M, or $1.450 for each Common Share, for the similar period in 2k18.

For the quarter finished September 30, 2k19, property operating revenues, apart from deferrals, raised $14.60M to $256.20M in contrast to $241.60M for a similar period in 2k18. For the nine months finished September 30, 2k19, property operating revenues, apart from deferrals, raised $43.90M to $747.80M in contrast to $703.90M for a similar period in 2k18. For the quarter finished September 30, 2k19, income from property operations, apart from deferrals and property administration, raised $6.90M to $145.30M contrast to $138.40M for a similar period in 2k18. For the nine months finished September 30, 2k19, income from property operations, apart from deferrals and property administration, raised $25.50M to $434.40M contrast to $408.90M for a similar period in 2k18.

For the quarter finished September 30, 2k19, Core property operating revenues, apart from deferrals, raised about 4.80 percent and Core income from property operations, apart from deferrals and property administration, raised about 5.10 percent contrast to the similar period in 2k18. For the nine months finished September 30, 2k19, Core property operating revenues, apart from deferrals, raised about 4.60 percent and Core income from property operations, apart from deferrals and property administration, raised about 5.10 percent contrast to the similar period in 2k18.

Investment Activity

On September 10, 2k19, we accomplished the acquisition of the remaining interest in the Loggerhead joint venture that owns 11 marinas for a purchase price of about $49.00M. As part of the acquisition, we also funded the joint venture’s repayment of its non-transferable debt of about $72.00M. The transaction was funded with proceeds from our unsecured line of credit. Following the consummation of the transaction, we own 100.00 percent of the marinas.

 

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