ELS Releases Financials for Q2 2011 and for Six Months

Market Watch reports Equity Lifestyle Properties (NYSE:ELS) has released results for the second quarter 2011, and for the past six months. Funds from operations (FFO) for the first quarter equaled $27.3 million, or .73 cents per fully-diluted share, versus last year’s second quarter of FFO of $27.1 million, equaling .76 cents a fully-diluted share. FFO for the six months ending June 30, 2011, equaled $67.9 million, or $1.86 per fully-diluted share. For the same quarter last year the FFO was $64.6 million, equaling $1.82 per fully-diluted share. Property operating revenues increased by approximately $2 million for both the first quarter of 2011 over the same period in 2010, and for the first six months of 2011 over 2010. ELS is the largest owner of land lease communities (LLC) in North America.

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