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
projections for 2017. We project our Net income per Common Share
(fully diluted) for the three months ending June 30, 2017 and year
ending December 31, 2017, to be between $0.44 and $0.50 and $2.14
and $2.24, respectively.
(fully diluted) for the three months ending June 30, 2017 and year
ending December 31, 2017 to be between $0.77 and $0.83 and $3.50
and $3.60, respectively. We project our Normalized Funds from
Operations (Normalized FFO) per Common Share (fully diluted) for
the three months ending June 30, 2017 and year ending December 31,
2017 to be between $0.77 and $0.83 and $3.51 and $3.61,
respectively.
possible outcomes and the mid-point of each range reflects
managements best estimate of the most likely outcome. Actual
results could vary materially from these amounts if any of our
assumptions are incorrect. The news release is furnished as Exhibit
99.1 to this report on Form 8-K. The news release was also posted
on our website, www.equitylife>
information included in Items 2.02 and 9.01 of this Report on Form
8-K, including Exhibit 99.1, 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>
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 about rental and home sales markets;
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our assumptions and guidance concerning 2017 estimated net
income, FFO and Normalized FFO; |
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our ability to manage counterparty risk;
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in the age-qualified properties, home sales results could be
impacted by the ability of potential homebuyers 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. |
impact us and the statements contained herein, refer to our filings
with the Securities and Exchange Commission, including Risk Factors
in our most recent Annual Report on Form 10-K and subsequent
quarterly reports.
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.
should be read in conjunction with the Registrant’s annual and
quarterly reports filed with the Securities and Exchange
Commission.
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Equity Life>
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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 00.00 at 79.89 with 371,808 shares trading hands.
