Equity LifeStyle Properties, Inc. announced its third‑quarter 2025 results on October 22, 2025. Net income per common share rose to $0.50, while funds from operations (FFO) per share reached $0.77 and normalized FFO per share was $0.75. Core property operating revenues increased 3.1% year‑over‑year, core operating expenses excluding property management grew 0.5%, and core income from property operations excluding property management climbed 5.3%.
During the quarter the company sold 114 new homes and filled 475 annual sites, adding 347 new homes in the nine‑month period. These sales figures support the company’s ongoing growth in its manufactured‑home portfolio and reinforce its high homeowner‑occupancy rate. The quarterly home‑sales activity also contributed to the 3.1% rise in core property operating revenues.
The company updated its fourth‑quarter and full‑year guidance. Net income per common share is now projected at $0.49 to $0.55, FFO per share at $0.75 to $0.81, and normalized FFO per share at $0.75 to $0.81. These guidance ranges represent a modest increase over prior estimates and confirm the company’s confidence in maintaining its revenue and profitability trajectory. The guidance also reflects the company’s expectation of continued home‑sales momentum and stable rental income.
Equity LifeStyle Properties drew the remaining $90.0 million from its $240.0 million unsecured term loan and used the proceeds to repay amounts outstanding on its line of credit. This refinancing action reduces the company’s debt exposure and improves liquidity, strengthening its balance sheet for future capital‑allocation decisions.
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