Guidance Update (1)(2) |
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($ 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 |
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| 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% |
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Non-Core Portfolio: | | | | | 2024 Full Year |
Income from property operations, excluding property management | | | | | $15.2 to $19.2 |
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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 |