ADDED
As of February 13, 2026, 193,927,571 shares of the Registrant's common stock were outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A.
We are one of the nation s largest real estate networks with a portfolio of 453 Properties (including joint venture Properties) consisting of 173,371 Sites located throughout 35 states in the U.S.
( RSI ) which, along with owning several Properties and other businesses, also purchases, sells and leases factory-built homes located in Properties owned and managed by us.
Over the last decade, we have continued to increase the number of Properties in our portfolio (including joint venture Properties), from approximately 387 Properties with over 143,900 Sites to 453 Properties with approximately 173,400 Sites as of December 31, 2025.
For example, over the past three years, we have acquired four Properties and three land parcels.
Through investment in their development and leadership, our employees build strong, innovative relationships that enhance the experience of our residents and guests and create lasting value.
We have an annual average of approximately 3,700 full-time, part-time and seasonal employees dedicated to carrying out our operating philosophy while focusing on delivering a memorable customer experience for our residents and guests.
Our property operations are managed internally by affiliates of the Operating Partnership and are coordinated by an on-site team of employees.
Complementing the on-site team are approximately 500 full-time employees in our home and regional offices who assist in all functions related to the management of our Properties.
REMOVED
As of February 20, 2025, 191,142,869 shares of the Registrant's common stock were outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A.
We are one of the nation's largest real estate networks with a portfolio of 452 Properties (including joint venture Properties) consisting of 173,201 Sites located throughout 35 states in the U.S.
( RSI ) which, along with owning several Properties, is engaged in the business of purchasing, selling and leasing factory-built homes located in Properties owned and managed by us.
Over the last decade, we have continued to increase the number of Properties in our portfolio (including joint venture Properties), from approximately 384 Properties with over 143,000 Sites to 452 Properties with approximately 173,200 Sites as of December 31, 2024.
For example, over the past three years, we have acquired 7 Properties and 6 land parcels that contain approximately 146 acres for future expansion.
We invest in our employees and are committed to developing our employees skills and leadership abilities.
As a result, we believe our employees are dedicated to building strong, innovative and long-term relationships with each other and with our residents and guests.
We have an annual average of approximately 3,800 full-time, part-time and seasonal employees dedicated to carrying out our operating philosophy while focusing on delivering an exceptional customer experience for our residents and guests.
Our property operations are managed internally by affiliates of the Operating Partnership and are coordinated by an on-site team of employees that typically includes a manager, clerical staff and maintenance workers.