Mon. 22 Apr 2024, 4:22pm ET
Benzinga
News, Guidance
Guidance Update (1)(2) | |||||||||
($ in millions, except per share data) | 2024 | ||||||||
Second Quarter | Full Year | ||||||||
Net Income per Common Share | $0.34 to $0.40 | $1.83 to $1.93 | |||||||
FFO per Common Share and OP Unit | $0.61 to $0.67 | $2.91 to $3.01 | |||||||
Normalized FFO per Common Share and OP Unit | $0.61 to $0.67 | $2.84 to $2.94 | |||||||
2023 Actual | 2024 Growth Rates | ||||||||
Core Portfolio: | Second Quarter | Full Year | Second Quarter | Full Year | |||||
MH base rental income | $ | 166.3 | $ | 668.5 | 5.9% to 6.5% | 5.6% to 6.6% | |||
RV and marina base rental income (3) | $ | 98.6 | $ | 413.5 | 2.8% to 3.4% | 4.5% to 5.5% | |||
Property operating revenues | $ | 317.7 | $ | 1,297.7 | 4.8% to 5.4% | 4.8% to 5.8% | |||
Property operating expenses, excluding property management | $ | 145.4 | $ | 562.3 | 5.3% to 5.9% | 4.2% to 5.2% | |||
Income from property operations, excluding property management | $ | 172.3 | $ | 735.4 | 4.3% to 4.9% | 5.3% to 6.3% | |||
Non-Core Portfolio: | 2024 Full Year | ||||||||
Income from property operations, excluding property management | $15.2 to $19.2 | ||||||||
Other Guidance Assumptions: | 2024 Full Year | ||||||||
Property management and general administrative | $114.7 to $120.7 | ||||||||
Debt assumptions: | |||||||||
Weighted average debt outstanding | $3,400 to $3,600 | ||||||||
Interest and related amortization | $141.2 to $147.2 |