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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
JULY 20, 2004
(Date of Report)
MANUFACTURED HOME COMMUNITIES, INC.
(Exact name of registrant as specified in its Charter)
1-11718
(Commission File No.)
MARYLAND 36-3857664
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
TWO NORTH RIVERSIDE PLAZA, CHICAGO, ILLINOIS 60606
(Address of principal executive offices) (Zip Code)
(312) 279-1400
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
Manufactured Home Communities, Inc. (NYSE: MHC) today announced
preliminary guidance for 2005. MHC's management projects continued growth in
core property performance along historical trends. Results for 2005 will be
impacted by i) continued competitive housing options impacting occupancy levels
at certain communities, ii) variability in income from home sales operations,
and iii) potential acquisitions. In age-qualified communities, home sales
results could be impacted by the ability of potential homebuyers to sell their
existing residences as well as by financial markets volatility. In the all-age
communities, results from home sales and occupancy will continue to be impacted
by local economic conditions, lack of affordable manufactured home financing and
competition from alternative housing options including site-built, single-family
housing. Based upon these factors and excluding potential acquisitions, MHC
projects that fully diluted FFO per share should be between $2.20 and $2.25 for
the full year of 2005. In addition, quarter-to-quarter results during the year
are impacted by the seasonality at certain of the communities.
The forward-looking statements contained herein are subject to certain
risks and uncertainties including, but not limited to, the Company's ability to
maintain rental rates and occupancy with respect to properties currently owned
or pending acquisitions; the Company's assumptions about rental and home sales
markets; the completion of pending acquisitions and timing with respect thereto;
the effect of interest rates as well as other risks indicated from time to time
in the Company's filings with the Securities and Exchange Commission. The
Company assumes no obligation to update or supplement forward-looking statements
that become untrue because of subsequent events.
Manufactured Home Communities, Inc. owns or has an interest in 209
quality communities in 23 states consisting of 80,028 sites. MHC is a
self-administered, self-managed, real estate investment trust (REIT) with
headquarters in Chicago.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
MANUFACTURED HOME COMMUNITIES, INC.
BY: /s/ Michael Berman
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Michael B. Berman
Vice President, Treasurer and
Chief Financial Officer
DATE: July 20, 2004
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