FFO Growth and Guidance
Normalized FFO growth was 4.6% for the third quarter, aligning with expectations. Full-year guidance indicates continued strength with a projected 4.9% growth rate compared to 2024.
Occupancy and Expansion
Florida MH portfolio reached 94% occupancy, and new site developments in Florida have added over 900 sites in the past five years. A 103-site expansion at Clover Leaf Farms was completed.
RV Annual Site Growth
Increased annual RV occupancy by 476 sites in the quarter, reflecting a strong demand for seasonal RV sites.
Strong Customer Engagement
The 11th annual 100 days of camping campaign saw record engagement with over 46 million social media impressions and 1,100 photo entries.
Financial Stability
Debt-to-EBITDAre is 4.5x with an interest coverage of 5.8x. The company has no secured debt maturing before 2028, maintaining a robust balance sheet.