Equity LifeStyle Properties Inc. (ELS) announced that its fourth-quarter net income available to common stockholders totaled $6.3 million or $0.21 per share, compared to a net loss of $13 thousand or breakeven per share for the same period in 2008. Funds From Operations were $27.7 million or $0.79 per share, compared to $20.6 million or $0.67 per share for the same period in 2008. Property operating revenues were $115.0 million, compared to $110.3 million in the fourth quarter of 2008.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.
For the first-quarter, FFO per share is projected to be in the range of $0.98 to $1.08.
For 2010, FFO per share is projected to be in the range of $3.39 - $3.59. Analysts expect the company to report earnings of $3.49 per share for fiscal 2010.
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