ELS reports Normalized FFO per share up 4.7% to $2.75 in 2023; Jan QTD core MH rent growth 6.6%

EQUITY LIFESTYLE PROPERTIES INC

2023-FY EPS reported $1.69 revenue$1,489,423,000

Normalized FFO per common share $2.75 for 2023, up 4.7% YoY.
Core MH base rental income increased 6.8% in 2023; added 994 expansion sites and sold 905 new homes.
January QTD 2024: core MH base rental income +6.6%, core RV resort & marina base rental income +4.1%.
Core occupancy 94.8% as of Jan 31, 2024; $1.3B core annual revenue in 2023.
Joined S&P MidCap 400 in July 2023; leap year February 2024 expected to boost Q1 growth.

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