Equity Lifestyle Properties: Q2 Earnings Snapshot
CHICAGO (AP) — CHICAGO (AP) — Equity Lifestyle Properties Inc. (ELS) on Monday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Chicago, said it had funds from operations of $129.7 million, or 66 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $62.9 million, or 34 cents per share.
The resort community operator, based in Chicago, posted revenue of $370 million in the period.
For the current quarter ending in September, Equity Lifestyle Properties expects its per-share funds from operations to range from 68 cents to 74 cents.
The company expects full-year funds from operations in the range of $2.80 to $2.90 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ELS at https://www.zacks.com/ap/ELS