Equity Lifestyle Properties: Q3 Earnings Snapshot

Associated Press Finance
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CHICAGO (AP) — 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 $139.7 million, or 71 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 $77 million, or 41 cents per share.

The resort community operator, based in Chicago, posted revenue of $388.8 million in the period.

For the current quarter ending in December, Equity Lifestyle Properties expects its per-share funds from operations to range from 70 cents to 76 cents.

The company expects full-year funds from operations in the range of $2.82 to $2.88 per share.

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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

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