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.