Equity LifeStyle Sees 'No Real Improvement' In Seasonal RV Bookings, Resets Fourth-Quarter RV Rent Outlook
Management kept fourth-quarter normalized FFO guidance at $0.78 to $0.84 a share while annual RV and manufactured-housing occupancy kept growing.
Equity LifeStyle Properties President and COO Patrick Waite said on the company's third-quarter earnings call that seasonal RV reservation pace has not picked up: "what we're seeing right now is no real improvement in the pace." The fourth-quarter RV and marina rent guidance now reflects that pace, while fourth-quarter normalized FFO guidance stayed at $0.78 to $0.84 per share.
What management said about the RV cut
Waite said the weakness is largely in the seasonal business. Reservation pace was down earlier in the year, he said, and
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Management said it will update on 2027 marina rates, and give fuller 2027 guidance, on the January call.
Sources
- Equity Lifestyle Properties: Q3 Earnings Snapshot — Associated Press
- Equity Lifestyle Props Narrows FY2026 FFO Gui... — benzinga.com
- Equity Lifestyle Properties FFO of $0.79 in-line, revenue of $409.9M beats by $9.14M (ELS:NYSE) | Seeking Alpha — seekingalpha.com
- Wells Fargo Maintains Equal-Weight on Equity ... — benzinga.com
- Baird Maintains Outperform on Equity Lifestyl... — benzinga.com
