Equity Lifestyle Properties: 2Q Earnings Snapshot
Posted July 20, 2020 4:29 pm.
Last Updated July 20, 2020 4:38 pm.
This article is more than 5 years old.
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.
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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
The Associated Press
