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Equity LifeStyle Properties Inc. (ELS) ended the first quarter of 2021 on March 31 with a total revenue increase of $15.5 million or 5.5%, according to a release.

ELS ended the first quarter with revenues of $296 million versus $280.5 million for the same period in 2020.

Net income available for common stockholders decreased $1.7 million, or $0.01 per common share, to $65.2 million, or $0.36 per common share, compared to $66.9 million, or $0.37 per common share, for the same period in 2020.

At the end of the first quarter, funds from operations (FFO) available for common stock and OP Unitholders increased $8.3 million, or $0.05 per common share, to $120.6 million, or $0.63 per common share, compared to $112.3 million, or $0.58 per common share, for the same period in 2020.

For the quarter which ended March 31, normalized funds from operations available for common stock and OP Unitholders increased $9.3 million, or $0.05 per common share, to $122.6 million, or $0.64 per common share, compared to $113.3 million, or $0.59 per common share, for the same period in 2020.

Property operating revenues, excluding deferrals, increased $15.5 million to $285.2 million, compared to $269.7 million for the same period in 2020. For the quarter ended March 31, income from property operations, excluding deferrals and property management, increased $6.4 million to $170.3 million, compared to $163.9 million for the same period in 2020.

Core property operating revenues, excluding deferrals, increased approximately 2.8% and core income from property operations, excluding deferrals and property management, increased approximately 1.9% compared to the same period in 2020.

In February 2021, ESL completed the acquisition of a portfolio of 11 marinas, containing 3,986 slips and 181 RV sites located in Florida, North Carolina, South Carolina, Kentucky and Ohio.

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