Equity LifeStyle Properties Reports Improved Q4 Results
Real estate investment trust Equity LifeStyle Properties Inc. (ELS) reported fourth quarter Funds From Operations or FFO of $43.5 million or $0.96 per share, up from $25.9 million or $0.73 per share in the prior year quarter, RTT News reported.
Excluding about $1.2 million in transaction costs incurred in connection with an acquisition during the quarter, FFO would have been $44.7 million or $0.99 per share for the quarter.
Net loss available to common stockholders totaled $0.2 million or breakeven per share, compared to net income available to common stockholders of $5.7 million, or $0.18 per share a year earlier. Excluding transaction costs incurred in connection with the Acquisition, net income available to common stockholders would have been $0.9 million or $0.02 per share for the quarter.
On average, five analysts polled by Thomson Reuters expected earnings of $0.87 per share for the quarter. Analysts’ estimates typically exclude special items.
Total revenues for the quarter were $159.31 million, up from $121.17 million in the prior year, while four analysts expected revenues of $143.34 million for the quarter. Quarterly property operating revenues, excluding deferrals, were $158.4 million, compared to $120.9 million last year. Core property operating revenues increased about 2.5 percent as compared to previous year.
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