Equity Lifestyle Properties: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

CHICAGO (AP) _ Equity Lifestyle Properties Inc. (ELS) on Monday reported a key measure of profitability in its third quarter.

The real estate investment trust, based in Chicago, said it had funds from operations of $105.5 million, or 55 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 $50.6 million, or 28 cents per share.

The resort community operator posted revenue of $285 million in the period.

The company's shares have declined 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $63, a drop of almost 8% in the last 12 months.

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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