Equity LifeStyle Properties said Patrick Waite will succeed Marguerite Nader as President and Chief executive officer effective January 1, 2027, and Waite will also join the Board. Nader will remain on the Board as Executive Vice Chair, and David Eldersveld will become Chief Operating Officer, as part of a multi-year succession plan. The filing reports no financial results or guidance changes.
Nader ceases to be Vice Chairman and CEO on December 31, 2026 and becomes Executive Vice Chair of the Board on January 1, 2027.
Waite, 60, becomes President and CEO on January 1, 2027 and is elected to the Board, which increases from nine to ten directors.
Waite's approved 2027 base salary is $614,935, with bonus potential of 290% of base salary; Eldersveld's is $476,558, with bonus potential of 220%.
The Board declared a fourth quarter 2026 dividend of $0.5425 per share, payable January 8, 2027 to holders of record on December 24, 2026.
Equity LifeStyle Properties reported third-quarter 2026 results, with total revenues of $409.9 million, up from $393.3 million a year earlier. Net income per share fell to $0.45 from $0.50 after a $12.1 million deferred tax valuation allowance, while normalized FFO per share rose 4.6% to $0.79. Management kept the midpoint of its full-year 2026 normalized FFO guidance at $3.18 and gave a preliminary 2027 Core MH base rent growth assumption of approximately 5.1%.
Q3 net income per share was $0.45 versus $0.50; FFO per share was $0.72 versus $0.77, including a $12.1 million deferred tax valuation allowance.
Q3 normalized FFO per share was $0.79 versus $0.75; nine-month normalized FFO per share was $2.36 versus $2.27.
Full-year 2026 normalized FFO guidance is $3.15 to $3.21 per share, with the midpoint unchanged at $3.18; full-year net income guidance is $2.00 to $2.06 per share.
Preliminary 2027 Core MH base rent growth assumption is approximately 5.1%; Core RV annual rent growth assumption is approximately 4.7%.
Equity LifeStyle Properties reported second-quarter 2026 Normalized FFO of $0.74 per share, up 7.7% from $0.69 a year earlier and above the midpoint of its previous $0.69 to $0.75 guidance range. The company also raised the midpoint of its full-year 2026 Normalized FFO guidance to $3.18 from $3.17, while giving third-quarter Normalized FFO guidance of $0.76 to $0.82 per share.
Q2 2026 Normalized FFO was $0.74 per share versus $0.69 in Q2 2025; FFO was $0.77 versus $0.69.
Q2 2026 net income per share was $0.50, up 19.1% from $0.42 in Q2 2025.
Full-year 2026 Normalized FFO guidance midpoint is $3.18, up from $3.17; the range is $3.13 to $3.23.
Core income from property operations, excluding property management, rose 6.5% in Q2 2026 to $206.1 million.
Equity LifeStyle Properties reported first-quarter 2026 results on April 21, 2026. Normalized FFO per share rose 0.3% to $0.84, while net income per share fell 2.6% to $0.56, and the company trimmed its full-year 2026 Core RV and marina revenue growth outlook because of a delay in marina slip restoration.
Normalized FFO per share was $0.84 versus $0.83 a year earlier; net income per share was $0.56 versus $0.57.
Total revenues were $397.6 million versus $387.3 million in the first quarter of 2025.
Full-year 2026 Core RV and marina base rental income growth guidance midpoint was cut to 2.4% from 2.9%, attributed to a delay in slip restoration.
Second quarter 2026 Normalized FFO per share guidance is $0.69 to $0.75; full-year 2026 Normalized FFO per share guidance is $3.12 to $3.22.
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