Equity LifeStyle Properties Inc. on Monday (July 20) reported second-quarter funds from operations (FFO) of $64.5 million, or 70 cents per share, compared with $57.6 million, or 63 cents per share, in the prior year quarter.
Net income for the quarter was $31.8 million, or 38 cents per share, compared with $25.5 million, or 30 cents per share, a year ago. Total revenues for the quarter rose to $201.5 million from $189 million a year ago.
Property operating revenue totaled $188.5 compared with $178.6 million last year.
For the third quarter, the company forecasts normalized FFO of 73 cents to 79 cents per share. For the full year 2015, the company now expects normalized FFO of $2.97 to $3.07 per share.
Equity LifeStyle Properties is a real estate investment trust (REIT) that owns or has an interest in 387 properties in 32 states and British Columbia..