Welcome to our dedicated page for Equity Lifestyle Pptys news (Ticker: ELS), a resource for investors and traders seeking the latest updates and insights on Equity Lifestyle Pptys stock.
Equity LifeStyle Properties reports recurring news on its self-administered, self-managed REIT portfolio of manufactured home communities, recreational vehicle resorts, campgrounds and marinas in North America. Company updates commonly cover quarterly results, FFO and normalized FFO, core property operating revenue, MH, RV and marina rental income, operating expense trends and management guidance.
ELS news also includes common stock dividend declarations, annual tax treatment of distributions, investor presentations, conference participation and earnings-call schedules. These releases frame the company as a fully integrated owner of lifestyle-oriented properties with sites located predominantly in the United States.
Equity LifeStyle Properties reported a revenue increase of $13.8 million (5.1%) to $285 million for Q3 2020, but net income for common stockholders fell by $13.9 million to $50.6 million. For the nine months ended September 30, 2020, total revenues rose $41 million (5.3%) to $819.6 million, though net income dropped $60.6 million to $163.6 million. Funds from Operations (FFO) decreased by $12.8 million for the quarter but Normalized FFO grew by $2.8 million. The company raised $386.9 million through financing and made several acquisitions to expand its portfolio.
Encore RV resorts and Thousand Trails campgrounds announced a partnership with The Dyrt, the largest campground search platform in the U.S., to feature over 200 locations in The Dyrt's PRO Discounts program. This initiative provides members with a 10% discount on RV sites and rentals at Encore and Thousand Trails locations. The Dyrt boasts over 1 million user-submitted campsites and 15 million annual visitors. This collaboration aims to enhance visibility for Encore and Thousand Trails within the camping community and provide added value to The Dyrt's subscribers.
Petite Retreats has announced the addition of two new tiny houses, Ingrid and Anderson, to the Mt. Hood Tiny House Village, increasing its total to seven. These new models are the largest at just under 360 square feet, accommodating five to seven guests, and feature contemporary designs. The expansion caters to the growing trend for unique vacation experiences. Located near Portland, the Mt. Hood Village RV Resort complements the tiny houses with additional amenities. Petite Retreats, part of Equity Lifestyle Properties (NYSE: ELS), offers a variety of unique vacation rentals across the U.S.