EQUITY LIFESTYLE PROPERTIES INC. has recently released its 10-K report, providing a detailed look at the company's financial performance and operations for the fiscal year ended December 31, 2025. The company is a self-administered, self-managed real estate investment trust headquartered in Chicago, with a portfolio of 453 properties in 35 states and British Columbia, consisting of 173,355 sites.
In the 10-K report, the company's management discussed the financial condition and results of operations for the fiscal year. Total Portfolio Income from property operations for the year ended December 31, 2025, increased by $30.1 million, or 4.2%, from the same period in 2024. This increase was primarily driven by a $35.3 million, or 5.0%, increase from the Core Portfolio, partially offset by a decrease of $5.2 million from the Non-Core Portfolio. The Core Portfolio's higher Property operating revenues, particularly in MH base rental income and Utility and other income, contributed to the overall increase in Income from property operations.
MH base rental income in the Core Portfolio for the year ended December 31, 2025, increased by $39.2 million, or 5.5%, from the same period in 2024, primarily due to a growth in rate of 5.8% offset by a 0.3% decline in occupancy. The average monthly MH base rental income per Site in the Core portfolio increased to approximately $908 during the year ended December 31, 2025, from approximately $858 during the same period in 2024.
RV and marina base rental income in the Core Portfolio for the year ended December 31, 2025, increased by $0.7 million, or 0.2%, from the same period in 2024, driven by an increase in Annual RV and marina base rental income of 4.1%, partially offset by decreases in Seasonal and Transient RV and marina base rental income of 9.9% and 8.5%, respectively.
The company's Rental operations revenues for the year ended December 31, 2025, were $1.1 million, or 3.3%, higher compared to the same period in 2024, primarily due to an increase in the number of occupied rentals.
In terms of liquidity and capital resources, the company highlighted its primary demands for liquidity, including payment of operating expenses, dividend distributions, debt service, capital improvements on properties, home purchases, and property acquisitions. The report also discussed the company's focus on accessing long-term secured debt and its current ATM equity offering program.
The 10-K report provides a comprehensive overview of EQUITY LIFESTYLE PROPERTIES INC.'s financial performance and strategic initiatives, offering investors and stakeholders valuable insights into the company's operations and outlook for the future. Today the company's shares have moved 2.37% to a price of $63.60. For the full picture, make sure to review EQUITY LIFESTYLE PROPERTIES INC's 10-K report.
