ELS Declares First Quarter 2023 Dividend

Rhea-AI Summary

Equity LifeStyle Properties, Inc. (NYSE:ELS) has declared a first quarter 2023 dividend of $0.4475 per common share, amounting to an annualized dividend of $1.79. This dividend will be paid on April 14, 2023 to stockholders on record as of March 31, 2023. As of January 30, 2023, the company owned or had an interest in 448 properties across the US, totaling 170,965 sites. The press release also discusses various risks concerning market conditions, customer retention, and potential impacts from events like Hurricane Ian and the COVID-19 pandemic that could affect future performance.

Positive

• Declared a quarterly dividend of $0.4475 per share, enhancing shareholder income.
• Stable portfolio with 448 properties and 170,965 sites across the US.

Negative

• Risks related to market conditions, including customer retention and rental rates.
• Potential impacts from Hurricane Ian on occupancy demand and revenue.

CHICAGO--(BUSINESS WIRE)-- On February 7, 2023, the Board of Directors of Equity LifeStyle Properties, Inc. (NYSE:ELS) (referred to herein as “we,” “us,” and “our”) declared a first quarter 2023 dividend of $0.4475 per common share, representing, on an annualized basis, a dividend of $1.79 per common share. The dividend will be paid on April 14, 2023 to stockholders of record at the close of business on March 31, 2023.

This press 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 and may include, without limitation, information regarding our expectations, goals or intentions regarding the future, and the expected effect of our acquisitions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including, but not limited to:

• our ability to control costs and real estate market conditions, our ability to retain customers, the actual use of sites by customers and our success in acquiring new customers at our properties (including those that we may acquire);
• our ability to maintain historical or increase future rental rates and occupancy with respect to properties currently owned or that we may acquire;
• our ability to attract and retain customers entering, renewing and upgrading membership subscriptions;
• our assumptions about rental and home sales markets;
• our ability to manage counterparty risk;
• our ability to renew our insurance policies at existing rates and on consistent terms;
• 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;
• results from home sales and occupancy will continue to be impacted by local economic conditions, including an adequate supply of homes at reasonable costs, 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 recent acquisitions and our estimates regarding the future performance of recent acquisitions;
• the completion of future transactions in their entirety, if any, and timing and effective integration with respect thereto;
• unanticipated costs or unforeseen liabilities associated with recent acquisitions;
• the effect of Hurricane Ian on our business including, but not limited to the following: (i) the timing and cost of recovery, (ii) the impact of the condition of properties and homes on occupancy demand and related rent revenue and (iii) the timing and amount of insurance proceeds;
• our ability to obtain financing or refinance existing debt on favorable terms or at all;
• the effect of inflation and interest rates;
• the effect from any breach of our, or any of our vendors’, data management systems;
• the dilutive effects of issuing additional securities;
• the outcome of pending or future lawsuits or actions brought by or against us, including those disclosed in our filings with the Securities and Exchange Commission; and
• other risks indicated from time to time in our filings with the Securities and Exchange Commission.

In addition, these forward-looking statements are subject to risks related to the COVID-19 pandemic, many of which are unknown, including the duration of the pandemic, the extent of the adverse health impact on the general population and on our residents, customers, and employees in particular, its impact on the employment rate and the economy, the extent and impact of governmental responses, and the impact of operational changes we have implemented and may implement in response to the pandemic.

For further information on these and other factors that could impact us and the statements contained herein, refer to our filings with the Securities and Exchange Commission, including the “Risk Factors” section in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.

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. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements whether as a result of such changes, new information, subsequent events or otherwise.

We are a fully integrated owner of lifestyle-oriented properties and own or have an interest in 448 properties located predominantly in the United States consisting of 170,965 sites as of January 30, 2023. We are a self-administered, self-managed, real estate investment trust with headquarters in Chicago.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230207006173/en/

Paul Seavey

(800) 247-5279

Source: Equity LifeStyle Properties, Inc.

FAQ

What is the dividend amount declared by Equity LifeStyle Properties for Q1 2023?

Equity LifeStyle Properties declared a dividend of $0.4475 per common share for the first quarter of 2023.

When will the dividend be paid to stockholders?

The dividend will be paid on April 14, 2023, to stockholders of record as of March 31, 2023.

What risks could affect Equity LifeStyle Properties' future performance?

Risks include market conditions, customer retention, the impact of Hurricane Ian, and the ongoing effects of the COVID-19 pandemic.

How many properties does Equity LifeStyle Properties own?

As of January 30, 2023, the company owns or has an interest in 448 properties in the United States.