U.S. Markets open in 11 mins

Equity Lifestyle Properties: 1Q Earnings Snapshot

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

The real estate investment trust, based in Chicago, said it had funds from operations of $89.1 million, or $1.04 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 $60.2 million, or 68 cents per share.

The resort community operator posted revenue of $246 million in the period.

For the current quarter ending in July, Equity Lifestyle Properties expects its per-share funds from operations to range from 85 cents to 91 cents.

The company expects full-year funds from operations in the range of $3.81 to $3.91 per share.

The company's shares have decreased 2 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $87.15, an increase of roughly 7 percent in the last 12 months.

_____

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