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CHICAGO - Equity LifeStyle Properties, Inc. (NYSE:ELS) reported first quarter earnings that exceeded analyst expectations, driven by strong performance in its core property operations. The real estate investment trust also raised its full-year guidance.
The company posted adjusted earnings per share of $0.57 for the quarter ended March 31, 2025, beating the consensus estimate of $0.55. Revenue came in at $387.3 million, significantly above analysts’ projections of $335.83 million.
Normalized funds from operations (FFO) per share, a key metric for REITs, rose 6.7% year-over-year to $0.83, hitting the midpoint of the company’s previous guidance range.
For the second quarter, Equity LifeStyle Properties expects EPS between $0.40 and $0.46. The company raised its full-year 2025 EPS guidance to a range of $1.97 to $2.07, up from its previous outlook and above the $1.96 consensus.
The REIT owns and operates 455 properties across 35 states and British Columbia, consisting of 173,340 sites as of April 21, 2025.
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