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Equity LifeStyle updates Q4, FY'17 guidance, details FY'18 estimate

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Equity LifeStyle updates Q4, FY'17 guidance, details FY'18 estimate

Equity LifeStyle Properties Inc. updated its guidance for the fourth quarter and full year 2017 and released new preliminary guidance ranges for 2018.

In reporting its third-quarter earnings, the company said it expects funds from operations per common share in the fourth quarter of 81 cents to 87 cents, and per-share normalized FFO of 84 cents to 90 cents.

For the full year, the company narrowed its FFO-per-share guidance range to $3.52 to $3.58 and its normalized FFO-per-share range to $3.56 to $3.62. The company previously estimated both metrics in the range of $3.52 to $3.62.

For 2018, the company said it expects both FFO and normalized FFO per common share in the range of $3.79 to $3.89.

The S&P Capital IQ consensus FFO-per-share estimates for the fourth quarter and the full year 2017 are 89 cents and $3.60, respectively. The consensus FFO-per-share estimate for 2018 is $3.87.