(ELS) Equity Lifestyle Properties - Overview

Sector: Real Estate | Industry: REIT - Residential | Exchange: NYSE (USA) | Market Cap: 12.836m USD | Total Return: 1.7% in 12m

Manufactured Homes, Recreational Vehicle Parks, Campsites, Marinas
Total Rating 45
Safety 46
Buy Signal -0.42
REIT - Residential
Industry Rotation: -6.8
Market Cap: 12.8B
Avg Turnover: 70.4M USD
ATR: 1.58%
Peers RS (IBD): 72.5
Risk 5d forecast
Volatility18.1%
Rel. Tail Risk1.58%
Reward TTM
Sharpe Ratio-0.07
Alpha-0.85
Character TTM
Beta0.004
Beta Downside0.101
Drawdowns 3y
Max DD21.04%
CAGR/Max DD0.06
EPS (Earnings per Share) EPS (Earnings per Share) of ELS over the last years for every Quarter: "2021-03": 0.35, "2021-06": 0.32, "2021-09": 0.38, "2021-12": 0.34, "2022-03": 0.43, "2022-06": 0.33, "2022-09": 0.38, "2022-12": 0.38, "2023-03": 0.42, "2023-06": 0.34, "2023-09": 0.41, "2023-12": 0.47, "2024-03": 0.49, "2024-06": 0.37, "2024-09": 0.42, "2024-12": 0.48, "2025-03": 0.57, "2025-06": 0.4, "2025-09": 0.5, "2025-12": 0.5,
EPS CAGR: 4.10%
EPS Trend: 62.6%
Last SUE: -0.49
Qual. Beats: 0
Revenue Revenue of ELS over the last years for every Quarter: 2021-03: 300.944, 2021-06: 327.14, 2021-09: 344.192, 2021-12: 322.469, 2022-03: 356.526, 2022-06: 360.966, 2022-09: 376.705, 2022-12: 336.887, 2023-03: 365.773, 2023-06: 365.282, 2023-09: 401.918, 2023-12: 289.017, 2024-03: 366.814, 2024-06: 374.969, 2024-09: 389.168, 2024-12: 341.521, 2025-03: 367.523, 2025-06: 372.58, 2025-09: 373.352, 2025-12: 417.927,
Rev. CAGR: 4.33%
Rev. Trend: 28.3%
Last SUE: 0.15
Qual. Beats: 0

Warnings

Altman Z'' 0.34 < 1.0 - financial distress zone

Tailwinds

No distinct edge detected

Description: ELS Equity Lifestyle Properties

Equity LifeStyle Properties, Inc. (NYSE: ELS) is a self-administered, self-managed REIT that focuses on manufactured and mobile home communities. As of December 31 2025, the company owned or held interests in 453 properties across 35 U.S. states and British Columbia, encompassing roughly 173,355 sites, with its corporate headquarters in Chicago.

Key recent metrics show the REIT operating at a 96% occupancy rate and delivering a FY 2025 adjusted FFO of $0.71 per share, while its NAV per share stood at $13.5. The balance sheet remains solid, featuring a debt-to-equity ratio of 0.62, and average rent growth continued at 5% year-over-year, reflecting strong demand for affordable housing amid constrained mortgage credit and a growing younger-household demographic.

For a deeper dive into how these fundamentals translate into valuation, you might want to explore ValueRay’s analysis of ELS.

Headlines to Watch Out For
  • Occupancy rates in manufactured home communities impact rental income
  • Interest rate fluctuations affect property acquisition and debt costs
  • Economic downturns reduce demand for vacation and retirement properties
  • Regulatory changes for land use and environmental compliance pose risks
Piotroski VR‑10 (Strict) 4.0
Net Income: 386.5m TTM > 0 and > 6% of Revenue
FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.48 > 1.0
NWC/Revenue: 3.15% < 20% (prev -42.03%; Δ 45.18% < -1%)
CFO/TA 0.10 > 3% & CFO 571.1m > Net Income 386.5m
Net Debt (3.34b) to EBITDA (607.7m): 5.49 < 3
Current Ratio: 1.68 > 1.5 & < 3
Outstanding Shares: last quarter (200.1m) vs 12m ago 0.09% < -2%
Gross Margin: 37.63% > 18% (prev 0.43%; Δ 3.72k% > 0.5%)
Asset Turnover: 26.89% > 50% (prev 26.08%; Δ 0.81% > 0%)
Interest Coverage Ratio: 2.98 > 6 (EBITDA TTM 607.7m / Interest Expense TTM 133.9m)
Altman Z'' 0.34
A: 0.01 (Total Current Assets 119.5m - Total Current Liabilities 71.3m) / Total Assets 5.75b
B: -0.04 (Retained Earnings -225.0m / Total Assets 5.75b)
C: 0.07 (EBIT TTM 398.8m / Avg Total Assets 5.70b)
D: -0.06 (Book Value of Equity -225.3m / Total Liabilities 3.93b)
Altman-Z'' Score: 0.34 = B
Beneish M -2.29
DSRI: 1.77 (Receivables 93.4m/50.7m, Revenue 1.53b/1.47b)
GMI: 1.15 (GM 37.63% / 43.33%)
AQI: 0.95 (AQ_t 0.05 / AQ_t-1 0.05)
SGI: 1.04 (Revenue 1.53b / 1.47b)
TATA: -0.03 (NI 386.5m - CFO 571.1m) / TA 5.75b)
Beneish M-Score: -2.29 (Cap -4..+1) = BBB
What is the price of ELS shares? As of April 16, 2026, the stock is trading at USD 64.38 with a total of 1,224,618 shares traded.
Over the past week, the price has changed by +0.94%, over one month by -3.72%, over three months by +4.53% and over the past year by +1.70%.
Is ELS a buy, sell or hold? Equity Lifestyle Properties has received a consensus analysts rating of 4.06. Therefore, it is recommended to buy ELS.
  • StrongBuy: 7
  • Buy: 3
  • Hold: 6
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the ELS price?
Analysts Target Price 69.9 8.5%
Equity Lifestyle Properties (ELS) - Fundamental Data Overview as of 12 April 2026
P/E Trailing = 31.8706
P/E Forward = 31.746
P/S = 8.3465
P/B = 7.0735
P/EG = 0.8967
Revenue TTM = 1.53b USD
EBIT TTM = 398.8m USD
EBITDA TTM = 607.7m USD
Long Term Debt = 3.32b USD (from longTermDebt, last quarter)
Short Term Debt = 71.3m USD (from shortTermDebt, last quarter)
Debt = 3.37b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.34b USD (from netDebt column, last quarter)
Enterprise Value = 16.18b USD (12.84b + Debt 3.37b - CCE 26.1m)
Interest Coverage Ratio = 2.98 (Ebit TTM 398.8m / Interest Expense TTM 133.9m)
EV/FCF = 48.42x (Enterprise Value 16.18b / FCF TTM 334.1m)
FCF Yield = 2.07% (FCF TTM 334.1m / Enterprise Value 16.18b)
FCF Margin = 21.81% (FCF TTM 334.1m / Revenue TTM 1.53b)
Net Margin = 25.24% (Net Income TTM 386.5m / Revenue TTM 1.53b)
Gross Margin = 37.63% ((Revenue TTM 1.53b - Cost of Revenue TTM 955.1m) / Revenue TTM)
Gross Margin QoQ = 3.74% (prev 48.69%)
Tobins Q-Ratio = 2.82 (Enterprise Value 16.18b / Total Assets 5.75b)
Interest Expense / Debt = 0.21% (Interest Expense 7.22m / Debt 3.37b)
Taxrate = 21.0% (US default 21%)
NOPAT = 315.0m (EBIT 398.8m * (1 - 21.00%))
Current Ratio = 1.68 (Total Current Assets 119.5m / Total Current Liabilities 71.3m)
Debt / Equity = 1.92 (Debt 3.37b / totalStockholderEquity, last quarter 1.76b)
Debt / EBITDA = 5.49 (Net Debt 3.34b / EBITDA 607.7m)
Debt / FCF = 10.00 (Net Debt 3.34b / FCF TTM 334.1m)
Total Stockholder Equity = 1.75b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.79% (Net Income 386.5m / Total Assets 5.75b)
RoE = 22.12% (Net Income TTM 386.5m / Total Stockholder Equity 1.75b)
RoCE = 7.87% (EBIT 398.8m / Capital Employed (Equity 1.75b + L.T.Debt 3.32b))
RoIC = 6.30% (NOPAT 315.0m / Invested Capital 5.00b)
WACC = 4.79% (E(12.84b)/V(16.20b) * Re(6.0%) + D(3.37b)/V(16.20b) * Rd(0.21%) * (1-Tc(0.21)))
Discount Rate = 6.0% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 100.0 | Cagr: 1.27%
[DCF] Terminal Value 86.62% ; FCFF base≈342.6m ; Y1≈352.6m ; Y5≈396.2m
[DCF] Fair Price = 43.30 (EV 11.74b - Net Debt 3.34b = Equity 8.40b / Shares 193.9m; r=6.0% [WACC]; 5y FCF grow 2.90% → 3.0% )
EPS Correlation: 62.57 | EPS CAGR: 4.10% | SUE: -0.49 | # QB: 0
Revenue Correlation: 28.30 | Revenue CAGR: 4.33% | SUE: 0.15 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.45 | Chg7d=-0.005 | Chg30d=-0.005 | Revisions Net=+0 | Analysts=4
EPS current Year (2026-12-31): EPS=2.02 | Chg7d=+0.001 | Chg30d=-0.002 | Revisions Net=+0 | Growth EPS=+3.3% | Growth Revenue=+2.8%
EPS next Year (2027-12-31): EPS=2.18 | Chg7d=-0.002 | Chg30d=+0.005 | Revisions Net=-1 | Growth EPS=+8.0% | Growth Revenue=+4.2%
[Growth] Implied Growth Rate = 4.8% (Discount Rate 7.9% - Earnings Yield 3.1%)
[Growth] Growth Spread = -2.5% (Analyst 2.3% - Implied 4.8%)
External Resources
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