CHICAGO (AP) _ Equity Lifestyle Properties Inc. (ELS) on Monday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.
The Chicago-based real estate investment trust said it had funds from operations of $92.3 million, or 97 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 97 cents per share.
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 $50.2 million, or 56 cents per share.
The resort community operator posted revenue of $243.5 million in the period.
For the year, the company reported funds from operations of $367.9 million, or $3.87 per share. Revenue was reported as $986.7 million.
For the current quarter ending in April, Equity Lifestyle Properties expects its per-share funds from operations to range from $1.08 to $1.14.
The company expects full-year funds from operations in the range of $4.07 to $4.17 per share.
The company's shares have risen 6 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $103.14, a climb of 20 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