ELS Reports Q3 Funds from Operations Off
Real estate investment trust Equity LifeStyle Properties Inc. (ELS) reported third-quarter funds from operations, or FFO of $31.8 million or 73 cents per share, compared to $32.7 million or 92 cents per share in the same period last year.
Net loss available to common stockholders for the quarter was $2.9 million or 7 cents per share, compared to $11.6 million or 37 cents per share in the previous year quarter, RTT News noted.
On average, four analysts polled by Thomson Reuters expected earnings of 71 cents per share for the quarter. Analysts’ estimates typically exclude special items.
Total revenues for the quarter was $161.39 million compared to $134.20 million last year, while four analysts expected revenues of $133.36 million for the quarter.
The company’s annualized dividend for 2011 is $1.50 per common share. At the next quarterly board of directors meeting, management of the company intends to recommend an increase of 25 cents per common share to the annual dividend for 2012 for a total dividend of $1.75 per common share.