ELS Q2 Normalized FFO rises 4.7% to $0.69 per share; full-year guidance $3.01 to $3.11
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 22, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.