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CHICAGO (AP) — CHICAGO (AP) — Equity Lifestyle Properties Inc. (ELS) on Monday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Chicago, said it had funds from operations of $151.2 million, or 76 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 76 cents per share.
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 $96 million, or 50 cents per share.
The resort community operator, based in Chicago, posted revenue of $372.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $378.2 million.
For the year, the company reported funds from operations of $572.9 million. Revenue was reported as $1.53 billion.
For the current quarter ending in March, Equity Lifestyle Properties expects its per-share funds from operations to range from 80 cents to 86 cents.
The company expects full-year funds from operations in the range of $3.01 to $3.11 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