Earnings ·
Equity LifeStyle Reports Q3 Net Income of $0.45 per Share, Normalized FFO Up 4.6%
ELSEquity Lifestyle Properties Inc
Equity LifeStyle Properties reported third-quarter net income of $89.3 million, or $0.45 per share, down from $100.4 million in the prior year period due to a $12.1 million deferred tax valuation allowance. Normalized funds from operations (FFO) per share rose 4.6% to $0.79, supported by a 5.7% increase in core mobile home base rental income and an 8.4% rise in annual membership subscriptions. The company provided full-year 2026 guidance for normalized FFO of $3.15 to $3.21 per share and preliminary 2027 rent growth assumptions of approximately 5.1% for mobile homes and 4.7% for RV sites. Equity LifeStyle Properties is a self-administered real estate investment trust that owns or has an interest in lifestyle-oriented properties, including mobile home communities, RV parks, and marinas.