Item 2.02 Results of Operations and Financial Condition
The Company hereby reconfirms previously issued guidance for its net income
per share (fully diluted) and funds from operations per share (fully diluted)
for the year ending December 31, 2009 of $0.46 - $0.66 and $3.45 - $3.65,
respectively.
Item 7.01 Regulation FD Disclosure
In accordance with General Instruction B.2. of Form 8-K, the following
information shall not be deemed to be "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that Section. Nor shall the information in this Current Report be
deemed incorporated by reference in any filing under the Securities Act of 1933,
as amended. Equity LifeStyle Properties, Inc. (the "Company") disclaims any
intention or obligation to update or revise this information.
Attached as Exhibit 99.1 is an investor presentation that will be posted on
the Company's website, www.equitylifestyle.com, on March 3, 2009. Included in
this presentation is a discussion of the Company's business and certain
financial information regarding 2009 guidance.
Item 8.01 Other Events
Equity LifeStyle Properties, Inc. (NYSE: ELS) today announced that the
Company will make a presentation at the Citi 2009 Global Property CEO Conference
on Tuesday, March 3, 2009. Thomas P. Heneghan, the Company's CEO, will conduct a
roundtable presentation at 7:45am Eastern time.
The live presentation can be accessed via teleconference at (719) 785-5595
using passcode: 348395. This will be a listen only broadcast. A replay of the
presentation will not be available.
This news release includes certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. When used,
words such as "anticipate," "expect," "believe," "project," "intend," "may be"
and "will be" and similar words or phrases, or the negative thereof, unless the
context requires otherwise, are intended to identify forward-looking statements.
These forward-looking statements are subject to numerous assumptions, risks and
uncertainties, including, but not limited to:
• in the age-qualified properties, home sales results could be impacted by the
ability of potential homebuyers to sell their existing residences as well as
by financial, credit and capital markets volatility;
• in the all-age properties, results from home sales and occupancy will
continue to be impacted by local economic conditions, lack of affordable
manufactured home financing, and competition from alternative housing
options including site-built single-family housing;
• in the properties we recently started operating as a result of our
acquisition of Privileged Access and all properties, our ability to control
costs, property market conditions, the actual rate of decline in customers,
the actual use of sites by customers and our success in acquiring new
customers;
• our ability to maintain rental rates and occupancy with respect to
properties currently owned or pending acquisitions;
• our assumptions about rental and home sales markets;
• the completion of pending acquisitions and timing with respect thereto;
• ability to obtain financing or refinance existing debt;
• the effect of interest rates;
• the effect of accounting for the sale of agreements to customers
representing a right-to-use the properties previously leased by Privileged
Access under Staff Accounting Bulletin No. 104, Revenue Recognition in
Consolidated Financial Statements, Corrected; and
• other risks indicated from time to time in our filings with the Securities
and Exchange Commission.
These forward-looking statements are based on management's present
expectations and beliefs about future events. As with any projection or
forecast, these statements are inherently susceptible to uncertainty and changes
in circumstances. The Company is under no obligation to, and expressly disclaims
any obligation to, update or alter its forward-looking statements whether as a
result of such changes, new information, subsequent events or otherwise.
Equity LifeStyle Properties, Inc. owns or has an interest in 307 quality
properties in 28 states and British Columbia consisting of 111,132 sites. The
Company is a self-administered, self-managed, real estate investment trust
(REIT) with headquarters in Chicago.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 Investor Presentation