This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ELS Reports Fourth Quarter Results

1. 2012 Core properties include properties we owned and operated during all of 2011 and 2012. Excludes property management expenses and the GAAP deferral of right-to-use contract upfront payments and related commissions, net.

2. Calculations prepared using unrounded numbers.

3. See core manufactured home site figures and occupancy averages table above.

4. See resort base rental income table included below within this table.

5. During the year ended December 31, 2012, the Company recognized approximately $2.1 million of cable service prepayments due to the bankruptcy of a third-party cable service provider at certain of the properties.

6. Growth rate excluding cable service prepayments, right-to-use contract sales and sales and marketing expenses is 2.3%, 1.3%, and 3.0% for property operating revenues, property operating expenses, and income from property operations, respectively, for the year ended December 31, 2012.

7. Occupied sites have increased by 278 from 40,258 at December 31, 2011.

2011 Acquisitions - Income from Property Operations (1)

(In $US millions, except occupancy figures, unaudited)

Three Months Ended   Year Ended
December 31, December 31,
2012   2011 2012   2011
Community base rental income $ 35.2 $ 31.9 $ 139.8 $ 52.2
Rental home income 1.8 1.0 5.9 1.6
Resort base rental income 0.1 0.5 0.1
Utility income and other property income 3.2   2.6     12.8     4.3  
Property operating revenues 40.3 35.5 159.0 58.2
 
Property operating, maintenance, and real estate taxes 12.6 11.5 53.1 19.0
Rental home operating and maintenance 0.7   0.4     2.7     1.0  
Property operating expenses 13.3   11.9     55.8     20.0  
Income from property operations $ 27.0   $ 23.6     $ 103.2     $ 38.2  
Occupied sites 25,945 25,751
 
 
Total Acquisition Michigan Total less
Portfolio only   Michigan
Average Occupancy for the Three Months Ended December 31, 2012
Total sites 30,015 5,874 24,141
Occupied sites 25,906 4,074 21,832
Occupancy % 86.3 % 69.4 % 90.4 %
Monthly base rent per occupied site $ 453 $ 456 $ 452
 
 
Average Occupancy for the Year Ended December 31, 2012 (2)
Total sites 30,005 5,874 24,131
Occupied sites 25,847 4,044 21,803
Occupancy % 86.1 % 68.8 % 90.4 %
Monthly base rent per occupied site $ 451 $ 455 $ 450

______________________

9 of 19

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs