secwatch.observer — SEC 8-K summary
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Issuer:     EQUITY LIFESTYLE PROPERTIES INC (ELS)
CIK:        0000895417
Form:       8-K
Filed at:   2026-10-21T13:15:23+00:00
Accession:  0001628280-26-066614
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

ELS Q3 normalized FFO $0.79, up 4.6%; net income falls on $12.1M tax valuation allowance
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- Normalized FFO per share/OP unit $0.79 vs $0.75, +4.6% YoY, at midpoint of prior $0.76-$0.82 guidance.
- Net income per share $0.45 vs $0.50 (-11.1%); FFO per share $0.72 vs $0.77 (-6.1%), reflecting a $12.1M deferred tax valuation allowance.
- Core property revenue +4.4%, expenses +1.3%, and core property operating income +6.7% YoY for Q3 2026.
- MH core base rent +5.7%; occupied sites rose 99 and home sales totaled 244 in Q3. RV/marina base rent +2.1%, annual base rent +5.3%, memberships +8.4%.
- Preliminary 2027 assumptions: Core MH base rent growth ~5.1% and Core RV annual rent growth ~4.7%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/895417/000162828026066614/0001628280-26-066614-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/895417/000162828026066614/els-20261020.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-066614

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer