Equity LifeStyle Properties, Inc. (NYSE:ELS) previously announced March
10, 2016 as the record date for the dividends to be paid on March 31,
2016 with respect to its 6.75% Series C Cumulative Redeemable Perpetual
Preferred Stock (NYSE:ELSPrC). The revised record date is March 21, 2016.
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, real estate market conditions, the
actual rate of decline in 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 retain and attract customers renewing, upgrading and
entering right-to-use contracts;
• our assumptions about rental and home sales markets;
• our assumptions and guidance concerning 2016 estimated net income, FFO
and Normalized FFO;
• our ability to manage counterparty risk;
• 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, 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;
• ability to obtain financing or refinance existing debt on favorable
terms or at all;
• the effect of interest rates;
• the dilutive effects of issuing additional securities;
• the effect of accounting for the entry of contracts with customers
representing a right-to-use the Properties under the Codification Topic “Revenue
Recognition;”
• the outcome of pending or future lawsuits filed against us, including
those disclosed in our filings with the Securities and Exchange
Commission, by tenant groups seeking to limit rent increases and/or
seeking large damage awards for our alleged failure to properly maintain
certain Properties or other tenant related matters, such as the case
currently pending in the California Court of Appeal, Sixth Appellate
District, Case No. H041913, involving our California Hawaiian
manufactured home property, including any further proceedings on appeal
or in the trial court; and
• other risks indicated from time to time in our filings with the
Securities and Exchange Commission.
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 own or have an interest in 388 quality properties in 32 states and
British Columbia consisting of 144,244 sites. We are a
self-administered, self-managed real estate investment trust (“REIT”)
with headquarters in Chicago.
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