Equity LifeStyle Properties, Inc. (NYSE: ELS) announced its results for the quarter and nine months ended September 30, 2026, in a Form 8-K filing. The company reported Normalized Funds from Operations (Normalized FFO) per share of $0.79 for the third quarter of 2026, a 4.6% increase compared to the same period in 2025. This figure was consistent with the midpoint of the company's previous guidance range of $0.76 to $0.82.
For the nine months ended September 30, 2026, Normalized FFO per share reached $2.36, representing a 4.0% increase year-over-year. The company noted that core property operating revenues increased 4.4% for the quarter and 4.3% for the nine months, while core income from property operations increased 6.7% and 6.0%, respectively.
Operational metrics showed strength across the portfolio. During the third quarter, occupied sites increased by 99, and new and used home sales totaled 244. Mobile home (MH) base rental income increased 5.7% for the quarter and 5.7% for the nine months. For the RV and marina segments, core annual membership subscriptions grew 8.4% for the quarter and 10.2% for the nine months.
Regarding guidance, Equity LifeStyle narrowed its full year 2026 ranges for Normalized FFO per share to $3.15 to $3.21. The company also provided preliminary assumptions for 2027 rent growth, estimating approximately 5.1% growth for MH base rent income and 4.7% for Core RV annual rent income. As of October 20, 2026, the company anticipated sending 2027 rent increase notices to approximately 50% of its MH residents.
As of September 30, 2026, Equity LifeStyle Properties owned or had an interest in 453 properties across 35 states and British Columbia, consisting of 173,623 sites.
