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ELS > SEC Filings for ELS > Form 8-K on 23-Oct-2012All Recent SEC Filings




Results of Operations and Financial Condition, Regulation FD Disc

Item 2.02 Results of Operations and Financial Condition

On October 22, 2012, Equity LifeStyle Properties, Inc. (the "Company") issued a news release announcing its results of operations for the three and nine months ended September 30, 2012. The information is furnished as Exhibit 99.1 to this report on Form 8-K. The news release was also posted on the Company's website,, on October 22, 2012.

The Company projects its net income per share (fully diluted) and funds from operations ("FFO") per share (fully diluted) for the year ending December 31, 2012 to be between $1.12 and $1.22 and $4.54 and $4.64, respectively. The Company preliminarily projects its net income per share (fully diluted) and FFO per share (fully diluted) for the year ending December 31, 2013 to be between $2.45 and $2.65 and $4.90 and $5.10, respectively. The projected 2012 and 2013 per share amounts represent a mid-point of a range of possible outcomes and reflects management's best estimate of the most likely outcome. The news release attached as Exhibit 99.1 provides detailed guidance assumptions.

Item 7.01 Regulation FD Disclosure
The Company's annualized dividend for 2012 is $1.75 per common share. At the next quarterly Board of Directors meeting, management of the Company intends to recommend an increase of $0.25 per common share to the annual dividend for 2013 for a total dividend of $2.00 per common share. The Board of Directors of the Company has the sole discretion to approve an increase of the dividend and therefore there can be no assurance that this increase will be approved.

The information contained in this report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by Equity LifeStyle Properties, Inc. under the Securities Act of 1933, as amended.

This report 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 and may include, without limitation, information regarding the Company's expectations, goals or intentions regarding the future, and the expected effect of the recent acquisitions on the Company. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including, but not limited to:
the Company's ability to control costs, real estate market conditions, the actual rate of decline in customers, the actual use of sites by customers and its success in acquiring new customers at its Properties (including those that it may acquire);

         the Company's ability to maintain historical rental rates and occupancy
          with respect to Properties currently owned or that the Company may

         the Company's ability to retain and attract customers renewing,
          upgrading and entering right-to-use contracts;

the Company's assumptions about rental and home sales markets;

the Company's assumptions and guidance concerning 2012 and 2013 estimated net income and funds from operations;

the Company's ability to manage counterparty risk;

         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

         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;

         impact of government intervention to stabilize site-built single family
          housing and not manufactured housing;

         effective integration of the recent acquisitions and the Company's
          estimates regarding the future performance of recent acquisitions;

         unanticipated costs or unforeseen liabilities associated with the
          recent acquisitions;

         ability to obtain financing or refinance existing debt on favorable
          terms or at all;

the effect of interest rates;

the dilutive effects of issuing additional securities;

         the effect of accounting for the entry of contracts with customers
          representing a right-to-use the Properties under the Codification Topic
          "Revenue Recognition;" and

         other risks indicated from time to time in the Company's 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.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The information contained in the attached exhibit is unaudited and should be read in conjunction with the Registrant's annual and quarterly reports filed with the Securities and Exchange Commission.

Exhibit 99.1 Equity LifeStyle Properties, Inc. press release dated October 22, 2012, "ELS Reports Third Quarter Results"

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