ELS Reports Q4 2009 Results With Higher Revenues And Controlled Expenses

Equity LifeStyle Properties, Inc. (NYSE: ELS) announced results for the quarter and year ended December 31, 2009 that showed an increase in Funds From Operations ("FFO") for the fourth quarter 2009 of $27.7 million, or $0.79 per share on a fully-diluted basis, compared to $20.6 million, or $0.67 per share on a fully-diluted basis for the same period in 2008.  ELS’s core property operating revenues increased approximately 3.7 percent and core property operating expenses decreased approximately 0.1 percent, resulting in an increase of approximately 7.0 percent to income from core property operations over the quarter ended December 31, 2008.  Operating revenues for Q4 2009 were $115.0 million, compared to $110.3 million in the fourth quarter of 2008.

For the full earnings release from ELS, click here.

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