The company, which manages 173,559 sites across 35 states and British Columbia, saw core manufactured home base rental income rise by 5.8% compared to the same period last year. Occupancy trends remained stable, with the company adding 13 occupied sites and facilitating 235 new and used home sales during the quarter. While RV and marina performance showed a more modest 1.8% growth in base rental income, annual base rental income for that segment rose by 5.4%.
Operational expenses, excluding property management, grew by 2.9% during the quarter. Following these results, management updated its full-year 2026 guidance for Normalized FFO per share to a midpoint of $3.18, a slight increase from the previous forecast of $3.17. The firm maintains a disciplined balance sheet, reporting total market capitalization of $16.25 billion with total debt representing 20.5% of that figure.
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