CHICAGO (AP) _ Equity Lifestyle Properties Inc. (ELS) on Monday reported a key measure of profitability in its second quarter.
The Chicago-based real estate investment trust said it had funds from operations of $91 million, or 47 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 $46.2 million, or 25 cents per share.
The resort community operator posted revenue of $254.1 million in the period.
The company's shares have declined roughly 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $63.66, an increase of 1.5% in the last 12 months.