Every material Form 8-K Equity Lifestyle Properties has filed with the SEC since February 28, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
Equity LifeStyle Properties approved a 2026 executive bonus plan on February 3, 2026, with bonus potential tied mainly to operational targets such as core MH and RV revenues and net operating income. The board also declared a first quarter 2026 dividend of $0.5425 per share, payable April 10, 2026, to holders of record on March 27, 2026.
CEO Marguerite Nader's bonus potential is 290% of annual salary; Patrick Waite, Paul Seavey and David Eldersveld are each set at 220%.
70% of bonus potential depends on operational targets; the remaining 30% is at the Compensation Committee's discretion based on strategic initiatives.
Total bonus potential may rise by up to an additional $889,804 if stretch goals are exceeded.
Quarterly dividend of $0.5425 per share, or $2.17 annualized, payable April 10, 2026.
Equity LifeStyle Properties reported fourth-quarter 2025 net income of $0.52 per share, up from $0.50, and normalized FFO of $0.79 per share, up 4.2% from $0.76. The board also set the 2026 annual dividend at $2.17 per share, a 5.3% increase over the $2.06 paid for 2025, and issued 2026 guidance of $3.12 to $3.22 in normalized FFO per share.
Q4 2025 net income per share $0.52 vs. $0.50 a year earlier; normalized FFO per share $0.79 vs. $0.76.
Full year 2025 normalized FFO per share $3.06, up 5.0%; net income per share $2.01, up 2.6%.
2026 full-year guidance: net income per share $2.06 to $2.16; normalized FFO per share $3.12 to $3.22.
2026 annual dividend of $2.17 per share, up $0.11 from $2.06 for 2025; quarterly amounts to be set by the board.
Equity LifeStyle Properties reported higher third-quarter 2025 results, with net income and normalized FFO per share both up from a year earlier. It also cut its fourth-quarter seasonal and transient RV revenue outlook, citing slower reservation pace from Canadian customers, and gave full-year 2025 normalized FFO guidance of $3.01 to $3.11 per share.
Q3 2025 normalized FFO per share was $0.75, up 4.6% from $0.72 in Q3 2024; net income per share was $0.50 versus $0.44
Q4 2025 seasonal and transient RV revenue growth guidance is -12.8% to -13.8%, versus -1.0% to -2.0% in the July 2025 guidance
Full-year 2025 normalized FFO guidance is $3.01 to $3.11 per share, with Q4 guidance of $0.75 to $0.81
Preliminary 2026 MH rent increases average about 5.1% for roughly 50% of residents by October month-end
Equity LifeStyle Properties (ELS) reported second-quarter 2025 results on July 21, 2025. Normalized FFO per share rose 4.7% to $0.69, while net income per share and FFO per share were both flat at $0.42 and $0.69, and total revenues fell to $376.9 million from $380.0 million. The company also issued full-year 2025 Normalized FFO guidance of $3.01 to $3.11 per share.
Q2 2025 Normalized FFO per share was $0.69, up from $0.66 a year earlier and at the midpoint of prior guidance of $0.66 to $0.72.
Core property operating revenues rose 3.5% in Q2 2025, while core property operating expenses were flat.
Full-year 2025 Normalized FFO guidance is $3.01 to $3.11 per share; third-quarter guidance is $0.72 to $0.78.
ELS entered a $240.0 million unsecured term loan maturing May 15, 2030, with $150.0 million drawn in May 2025 and $90.0 million in July 2025.
Equity LifeStyle Properties named Marguerite Nader vice chairman and promoted Patrick Waite to president, both effective immediately, while Nader remains CEO and Waite remains COO. At the April 29, 2025 annual meeting, stockholders elected nine directors and approved the auditor ratification and the non-binding say-on-pay proposal, and the company declared a second quarter 2025 dividend of $0.515 per share.
Marguerite Nader named Vice Chairman of the Board and Patrick Waite promoted to President, effective April 29, 2025; Nader stays CEO and Waite stays COO
Stockholders holding about 92.68% of outstanding shares attended or were represented at the April 29, 2025 annual meeting
Second quarter 2025 dividend of $0.515 per share, or $2.06 annualized, payable July 11, 2025 to holders of record on June 27, 2025
The company reports owning or holding an interest in 455 properties with 173,340 sites as of April 21, 2025
Equity LifeStyle Properties reported first-quarter 2025 results, with Normalized FFO per share of $0.83, up 6.7% from $0.78 a year earlier and at the midpoint of its previous $0.80 to $0.86 guidance range. GAAP net income per share fell 3.0% to $0.57 and FFO per share fell 2.7% to $0.83, so headline measures moved in different directions. The company also issued second-quarter and full-year 2025 guidance, which shareholders will use to judge the rest of the year.
Normalized FFO per share was $0.83 for the quarter ended March 31, 2025, up from $0.78 in the same period of 2024.
Net income per share was $0.57, down from $0.59; FFO per share was $0.83, down from $0.86.
Guidance for 2025: second-quarter Normalized FFO per share of $0.66 to $0.72 and full-year Normalized FFO per share of $3.01 to $3.11.
Core property operating revenues rose 2.9%, and the property and casualty insurance premium decreased about 6.1% at the April 1, 2025 renewal.
Equity LifeStyle Properties said Caroline Karp, its Senior Vice President and Chief Accounting Officer, took on the principal accounting officer role effective February 4, 2025, while CFO Paul Seavey remains principal financial officer. The company also approved a 2025 Executive Bonus Plan and declared a first quarter dividend of $0.515 per share, which shareholders of record on March 28, 2025 will receive on April 11, 2025.
Caroline Karp, 51, joined ELS as Chief Accounting Officer in September 2024 and became principal accounting officer effective February 4, 2025
Paul Seavey, Executive Vice President and Chief Financial Officer, remains principal financial officer
First quarter 2025 dividend of $0.515 per share, or $2.06 annualized, payable April 11, 2025 to holders of record on March 28, 2025
2025 bonus potential for CEO Marguerite Nader is 290% of annual salary; other named executives are 220%
Equity LifeStyle Properties reported fourth-quarter and full-year 2024 results on January 27, 2025, with full-year net income per share up 16.0% to $1.96 and normalized FFO per share up 5.9% to $2.91. The company guided to 2025 full-year normalized FFO per share of $3.01 to $3.11 and its board set the 2025 annual dividend at $2.06 per share, up 7.9% from $1.91 in 2024, which increases the cash payout to shareholders.
Q4 2024 normalized FFO per share was $0.76, up 6.9% from $0.71 a year earlier; Q4 FFO per share was flat at $0.76
Full-year 2024 net income per share was $1.96, up 16.0% from $1.69 in 2023
2025 full-year normalized FFO per share guidance is $3.01 to $3.11; first-quarter 2025 guidance is $0.80 to $0.86
2025 annual dividend rate set at $2.06 per share, an increase of $0.15 over $1.91 for 2024
Equity LifeStyle Properties entered new equity distribution agreements with nine sales agents allowing it to sell up to $700 million of common stock over time, replacing its prior program. The company also terminated the earlier program, which had about $182.6 million of unsold stock remaining, and said proceeds may fund debt repayment, acquisitions, development and general corporate purposes.
New offering covers common stock with an aggregate offering price of up to $700 million.
Sales agents may receive commissions of up to 2.0% of gross sales price.
Prior program, dated February 28, 2024, was terminated effective November 1, 2024, with about $182.6 million of stock unsold at termination.
Proceeds are intended for general corporate purposes, including possible debt repayment and property acquisitions.
Equity LifeStyle Properties reported third-quarter 2024 results on October 21, 2024, with net income per share of $0.44, up 7.5% from $0.41, and Normalized FFO of $0.72 per share, up 4.9%. The company narrowed its full-year 2024 Normalized FFO guidance to $2.89 to $2.95 per share and gave preliminary 2025 rent increase assumptions, which matter to shareholders as indicators of expected cash flow from its properties.
Q3 2024 net income per common share was $0.44 versus $0.41 a year earlier; Normalized FFO per share was $0.72 versus $0.68.
Core property operating revenues rose 4.4% in the quarter, and Core MH base rental income rose 6.2%.
Full-year 2024 Normalized FFO guidance is $2.89 to $2.95 per share; preliminary 2025 MH rate increases average about 5.0% for roughly 50% of residents.
Equity LifeStyle Properties reported second-quarter 2024 results on July 22, with net income per share of $0.42, up from $0.34, and normalized FFO per share of $0.66, up 2.9%. The accompanying release also increased the company's 2024 earnings guidance, with full-year normalized FFO per share now projected at $2.86 to $2.96. The filing also discloses a July 18 amendment extending the maturity of its $500 million line of credit to July 18, 2028, with other material terms, including interest rate terms, unchanged.
Q2 2024 net income per share was $0.42 versus $0.34 in Q2 2023; normalized FFO per share was $0.66 versus $0.64.
Full-year 2024 normalized FFO per share guidance is $2.86 to $2.96; third-quarter guidance is $0.69 to $0.75.
On July 18, 2024, the $500 million credit line maturity was extended to July 18, 2028, and the $300 million term loan gained an option to extend to April 16, 2027.
Equity LifeStyle Properties reported first-quarter 2024 total revenues of $386.6 million, up $16.6 million from a year earlier, and net income available to common stockholders of $109.9 million, up from $82.4 million. The company also gave second-quarter and full-year 2024 guidance, including full-year Normalized FFO of $2.84 to $2.94 per share, for shareholders to weigh against these results.
Q1 2024 net income per common share was $0.59, versus $0.44 in Q1 2023.
Q1 2024 Normalized FFO per share was $0.78, up from $0.72, which the company said was in line with the midpoint of its guidance.
Q2 2024 Normalized FFO per share guidance is $0.61 to $0.67; full-year 2024 is $2.84 to $2.94.
Q1 2024 results include $14.8 million of insurance proceeds related to Hurricane Ian.
Equity LifeStyle Properties entered into equity distribution agreements with nine sales agents that allow it to sell up to $500 million of common stock from time to time. The company says proceeds may be used for general corporate purposes, including debt repayment, property acquisitions, and development. Shareholders may face dilution if the shares are sold, though the filing does not state any planned sale amount or timing.
Aggregate offering price of up to $500 million of common stock through nine sales agents
Agreements dated February 28, 2024, under a shelf registration filed the same day
Sales agents may receive commissions of up to 2.0% of gross sales price
Proceeds intended for general corporate purposes, including debt repayment and acquisitions
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