MHProNews has learned from uknewsyahoo that Equity LifeStyle Properties (ELS) reported for the second quarter 2015 it posted funds from operations (FFO) of $64.5 million or $0.70 per share, beating the average estimate of Zacks Investment Research analysts by $0.02 per share.
A closely watched measure in the real estate investment trust (REIT) industry, FFO adds items such as amortization and depreciation back into net income. On revenue of $201.5 million the company earned net income of $31.8 million, or $0.38 per share.
ELS anticipates it will report FFO for the third quarter in the $0.73 to $0.79 range per share, and full year FFO between $2.97 and $3.07 per share. Company shares have risen ten percent this year, and 29 percent in the last 12 months.
As MHProNews knows, ELS has ownership in 370 manufactured home and recreational vehicle communities in North America comprised of nearly 140,000 home sites. ##
(Photo credit: Equity LifeStyle Properties–manufactured home community, California)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.