Item 2.02 Results of Operations and Financial Condition
On
The news release is furnished as Exhibit 99.1 to this report on Form 8-K. The
news release was also posted on our website, www.equitylifestyleproperties.com,
on
Item 8.01 Other Events
On
On
In accordance with General Instruction B.2. of Form 8-K, the information
included in Items 2.02 and 9.01 of this report on Form 8-K, including Exhibit
99.1, shall not be deemed to be "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that Section, nor shall such information be deemed incorporated
by reference in any registration statement filed by
This report 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 assumptions and guidance concerning 2022 growth rates and Net Income and Normalized FFO per share data; •our ability to manage counterparty risk; •our ability to renew our insurance policies at existing rates and on consistent terms; •in the age-qualified properties, home sales results could be impacted by the ability of potential home buyers 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; •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 theSecurities and Exchange Commission ; and •other risks indicated from time to time in our filings with theSecurities and Exchange Commission .
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Our guidance acknowledges the existence of volatile economic conditions, which may impact our current guidance assumptions. Factors impacting 2022 guidance include, but are not limited to the following: (i) the mix of site usage within the portfolio; (ii) yield management on our short-term resort and marina sites; (iii) scheduled or implemented rate increases on community, resort and marina sites; (iv) scheduled or implemented rate increases in annual payments under membership subscriptions; (v) occupancy changes; (vi) our ability to attract and retain membership customers; (vii) our ability to integrate and operate recent acquisitions in accordance with our estimates; (viii) completion of pending transactions in their entirety and on assumed schedule; (ix) ongoing legal matters and related fees; and (x) costs to restore property operations and potential revenue losses following storms or other unplanned events. In addition, these forward-looking statements, including our 2022 guidance 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
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 and operator of lifestyle-oriented properties
and own or have an interest in 444 quality properties in 35 states and
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The information contained in the attached exhibit is unaudited and should be
read in conjunction with the Registrant's annual and quarterly reports filed
with the
99.1
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