EQUITY LIFESTYLE PROPERTIES, INC. (NYSE:ELS) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
Operations (FFO) per Common Share (fully diluted), for the three
months ending March 31, 2017 and year ending December 31, 2017, to
be between $0.95 and $1.01 and $3.48 and $3.58, respectively.
Funds from Operations (“Normalized FFO”) per Common Share (fully
diluted) for the three months ending March 31, 2017 and year ending
December 31, 2017, to be between $0.95 and $1.01 and $3.48 and
$3.58, respectively.
possible outcomes and the mid-point of each range reflects
management’s best estimate of the most likely outcome. Actual
figures could vary materially from these amounts if any of our
assumptions are incorrect.
Marguerite Nader, our President and CEO, will participate in a
roundtable discussion followed by a question and answer session at
the Citi 2017 Global Property CEO Conference on Tuesday, March 7,
2017 at 8:50 am Eastern Time.
information included in items 2.02 and 7.01 of this Current Report
of Form 8-K, shall not be deemed to be “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that Section, nor shall
such information be deemed incorporated by reference in any
registration statement filed by Equity Life>
the meaning of the Private Securities Litigation Reform Act of
1995. When used, words such as “anticipate,” “expect,”
“believe,” “project,” “intend,” “may be” and “will be”
and similar words or phrases, or the negative thereof, unless the
context requires otherwise, are intended to identify
forward-looking statements and may include without limitation,
information regarding our expectations, goals or intentions
regarding the future, and the expected effect of our acquisitions.
These forward-looking statements are subject to numerous
assumptions, risks and uncertainties, including, but not limited
to:
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our ability to control costs, real estate market conditions,
the actual rate of decline in customers, the actual use of Sites by customers and our success in acquiring new customers at our Properties (including those that we may acquire); |
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our ability to maintain historical or increase future rental
rates and occupancy with respect to Properties currently owned or that we may acquire; |
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our ability to retain and attract customers renewing,
upgrading and entering right-to-use contracts; |
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our assumptions and guidance concerning 2017 estimated net
income, FFO and Normalized FFO; |
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our assumptions about rental and home sales markets;
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our ability to manage counter-party risk;
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in the age-qualified Properties, home sales results could be
impacted by the ability of potential home buyers to sell their existing residences as well as by financial, credit and capital markets volatility; |
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results from home sales and occupancy will continue to be
impacted by local economic conditions, lack of affordable manufactured home financing and competition from alternative housing options including site-built single-family housing; |
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impact of government intervention to stabilize site-built
single family housing and not manufactured housing; |
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effective integration of recent acquisitions and our
estimates regarding the future performance of recent acquisitions; |
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the completion of future transactions in their entirety, if
any, and timing and effective integration with respect thereto; |
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unanticipated costs or unforeseen liabilities associated with
recent acquisitions; |
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ability to obtain financing or refinance existing debt on
favorable terms or at all; |
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the effect of interest rates;
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the dilutive effects of issuing additional securities;
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the effect of accounting for the entry of contracts with
customers representing a right-to-use the Properties under the Codification Topic “Revenue Recognition”; |
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the outcome of pending or future lawsuits or actions brought
against us, including those disclosed in our filings with the Securities and Exchange Commission; and |
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other risks indicated from time to time in our filings with
the Securities and Exchange Commission. |
expectations and beliefs about future events. As with any
projection or forecast, these statements are inherently susceptible
to uncertainty and changes in circumstances. We are under no
obligation to, and expressly disclaim any obligation to, update or
alter our forward-looking statements whether as a result of such
changes, new information, subsequent events or otherwise.
About EQUITY LIFESTYLE PROPERTIES, INC. (NYSE:ELS)
Equity LifeStyle Properties, Inc. is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease Properties. The Home Sales and Rentals Operations segment purchases, sells and leases homes at the Properties. Its customers may lease individual developed areas (Sites) or enter right-to-use contracts, which provide them access to specific Properties for limited stays. Its portfolio includes approximately 390 Properties, including over 143,940 residential Sites located across the United States and Canada. It has over 80 Properties with lake, river or ocean frontage, and over 100 Properties within approximately 10 miles of the coastal United States. EQUITY LIFESTYLE PROPERTIES, INC. (NYSE:ELS) Recent Trading Information
EQUITY LIFESTYLE PROPERTIES, INC. (NYSE:ELS) closed its last trading session down -0.39 at 79.08 with 633,917 shares trading hands.
