Jan. 27 at 9:57 PM
$ELS Equity Lifestyle reports Q4 normalized FFO 76c, consensus 76c
Reports Q4 revenue
$372.3M, consensus
$369.3M. The company said, "During the Q4, as it relates to Hurricane Milton, we have continued clean up efforts at impacted properties. We accrued approximately
$3.6M of expenses related to debris removal and cleanup, and we recorded an insurance recovery accrual of
$3.4M to offset the expenses incurred at certain MH and RV properties. After assessing the condition of the properties affected by the storm, we recorded a
$700,000 reduction, net of insurance recovery accruals, to the carrying value of certain assets."
