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Equity Lifestyle Properties: 4Q Earnings Snapshot

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

The Chicago-based real estate investment trust said it had funds from operations of $99.5 million, or 52 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 $55 million, or 30 cents per share.

The resort community operator posted revenue of $258.6 million in the period.

For the year, the company reported funds from operations of $401.8 million, or $2.09 per share. Revenue was reported as $1.04 billion.

For the current quarter ending in April, Equity Lifestyle Properties expects its per-share funds from operations to range from 58 cents to 62 cents.

The company expects full-year funds from operations in the range of $2.19 to $2.25 per share.

The company's shares have risen nearly 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $71.74, a climb of 41% 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