Equity LifeStyle Properties Reports Strong Q3 Results
News related to:Equity LifeStyle Properties, Inc · 2 min read
CHICAGO, Oct. 20, 2026 /CourierPR/ -- Equity LifeStyle Properties, Inc. (NYSE: ELS) announced its third quarter and nine-month results for the period ending September 30, 2026, highlighting continued strong performance across its core business segments. The company reported a normalized FFO per common share and OP unit of $0.79 for the quarter ended September 30, 2026, marking a 4.6% increase from the same period in 2025. This figure is consistent with the midpoint of the company's previous guidance range of $0.76 to $0.82.
For the nine months ending September 30, 2026, the normalized FFO per common share and OP unit stood at $2.36, a 4.0% increase over the same period in 2025. The company’s core property operating revenues increased by 4.3% for the nine-month period, while core property operating expenses, excluding property management, rose by 2.0%. Core income from property operations, excluding property management, saw a 6.0% increase over the same period in 2025.
In the mobile home (MH) segment, core base rental income for the quarter ended September 30, 2026, increased by 5.7% compared to the same period in 2025. Occupied sites saw a 99-site increase, and new and used home sales reached 244 during the quarter. For the nine months, core base rental income increased by 5.7%, with occupied sites growing by 166 and new and used home sales totaling 707.
The recreational vehicle (RV) and marina segment also showed positive growth. Core RV and marina base rental income for the quarter ended September 30, 2026, increased by 2.1% compared to the same period in 2025. This growth is 0.4% higher than the midpoint of the company’s previous guidance range. For the nine months, core RV and marina annual base rental income increased by 5.0%, and core annual membership subscriptions rose by 10.2% compared to the same period in 2025.
Equity LifeStyle Properties’ core property operating expenses, excluding property management, increased by 1.3% for the quarter ended September 30, 2026, and by 2.0% for the nine months. The company provided preliminary 2027 rent growth assumptions, projecting a 5.1% increase in core MH base rent income and a 4.7% increase in core RV annual rent income.
These results reflect the company’s continued focus on operational efficiency and growth in its core business segments. Equity LifeStyle Properties, Inc. owns or has an interest in 453 properties across 35 states and British Columbia, consisting of 173,623 sites.