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CHICAGO (AP) — CHICAGO (AP) — Equity Lifestyle Properties Inc. (ELS) on Monday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Chicago, said it had funds from operations of $144.3 million, or 74 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 $82.4 million, or 44 cents per share.
The resort community operator, based in Chicago, posted revenue of $370 million in the period.
For the current quarter ending in June, Equity Lifestyle Properties expects its per-share funds from operations to range from 62 cents to 68 cents.
The company expects full-year funds from operations in the range of $2.79 to $2.89 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 ELS">Zacks stock report on ELS at https://www.zacks.com/ap/ELS