EQUITY LIFESTYLE PROPERTIES, INC. (NYSE:ELS) Files An 8-K Results of Operations and Financial Condition
Item2.02
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Results of Operations and Financial Condition |
Equity Life>
We also reaffirm previously issued guidance for our Funds from
Operations (FFO) per Common Share (fully diluted), for the three
months ending March31, 2017 and year ending December31, 2017, to
be between $0.95 and $1.01 and $3.48 and $3.58, respectively.
We also reaffirm previously issued guidance for our Normalized
Funds from Operations (Normalized FFO) per Common Share (fully
diluted) for the three months ending March31, 2017 and year
ending December31, 2017, to be between $0.95 and $1.01 and $3.48
and $3.58, respectively.
The projected 2017per Common Share amounts represent a range of
possible outcomes and the mid-point of each range reflects
managements best estimate of the most likely outcome. Actual
figures could vary materially from these amounts if any of our
assumptions are incorrect.
| Item7.01 | Regulation FD Disclosure |
From time to time, we will meet with analysts and investors and
present a slide presentation. A copy of this slide presentation
is attached hereto as Exhibit 99.1 and is incorporated herein by
reference. The presentation will be posted on our website,
www.equitylife>, on February28, 2017.
Included in this presentation is a discussion of our business and
certain financial information regarding 2017 guidance.
In accordance with General Instruction B.2. of Form 8-K, the
information included in items 2.02 and 7.01 of this Current
Report of Form 8-K, including Exhibit 99.1, shall not be deemed
to be filed for purposes of Section18 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>
This report includes certain forward-looking statements within
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; |
| our assumptions about rental and home sales markets; |
| 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; |
| the effect of interest rates; |
| 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. |
These forward-looking statements are based on managements present
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.
Equity Life>
| Item9.01 | Financial Statements and Exhibits |
(d) Exhibits
Exhibit 99.1 Investor Presentation
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 -0.49 at 79.16 with 403,046 shares trading hands.
