(ELS) Equity Lifestyle Properties - NYSE
Sector: Real Estate | Industry: REIT - Residential | Exchange: NYSE (USA) | Market Cap: 12.887m USD | Total Return: 2.5% in 12m
Avg Turnover: 98.4M
EPS Trend: 97.4%
Qual. Beats: 0
Rev. Trend: 71.4%
Qual. Beats: 0
Warnings
Altman Z'' 0.13 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Equity LifeStyle Properties, Inc. (NYSE: ELS) is a self-administered, self-managed real estate investment trust (REIT) headquartered in Chicago, Illinois. The company was incorporated in Maryland in 1992 and completed its initial public offering in February 1993. As of March 31, 2026, ELS owns or has an interest in 453 properties spanning 35 U.S. states and British Columbia, comprising 173,419 sites in total.
As a REIT, ELS is required to distribute the majority of its taxable income to shareholders in the form of dividends, consistent with standard REIT structure under U.S. tax law. The company is classified within the GICS Single-Family Residential REITs sub-industry, with its portfolio focused on manufactured housing communities and RV resorts-a niche segment of the residential real estate market characterized by long-term site leases and high tenant retention.
- MH rent growth and occupancy lift same-store revenue
- RV resort acquisitions accelerate portfolio expansion
- Interest rate moves shape cost of capital and acquisition pace
| Net Income: 385.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.53 > 1.0 |
| NWC/Revenue: -38.30% < 20% (prev -40.87%; Δ 2.58% < -1%) |
| CFO/TA 0.10 > 3% & CFO 573.1m > Net Income 385.2m |
| Net Debt (3.25b) to EBITDA (608.2m): 5.35 < 3 |
| Current Ratio: 0.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (200.2m) vs 12m ago 0.05% < -2% |
| Gross Margin: 31.52% > 18% (prev 43.55%; Δ -12.03% > 0.5%) |
| Asset Turnover: 27.42% > 50% (prev 26.11%; Δ 1.31% > 0%) |
| Interest Coverage Ratio: 2.92 > 6 (EBIT TTM 398.4m / Interest Expense TTM 136.4m) |
| A: -0.10 (Total Current Assets 129.5m - Total Current Liabilities 727.5m) / Total Assets 5.75b |
| B: -0.04 (Retained Earnings -222.3m / Total Assets 5.75b) |
| C: 0.07 (EBIT TTM 398.4m / Avg Total Assets 5.70b) |
| D: 0.45 (Book Value of Equity 1.76b / Total Liabilities 3.93b) |
| Altman-Z'' = 0.13 = B |
| DSRI: 1.78 (Receivables 90.3m/47.7m, Revenue 1.56b/1.47b) |
| GMI: 1.38 (GM 43.55% / 31.52%) |
| AQI: 1.09 (AQ_t 0.05 / AQ_t-1 0.04) |
| SGI: 1.06 (Revenue 1.56b / 1.47b) |
| TATA: -0.03 (NI 385.2m - CFO 573.1m) / TA 5.75b) |
| Beneish M = -1.94 (Cap -4..+1) = B |
As of June 20, 2026, the stock is trading at USD 62.19 with a total of 2,434,400 shares traded.
Over the past week, the price has changed by -2.74%,
over one month by -1.11%,
over three months by -3.81% and
over the past year by +2.45%.
Equity Lifestyle Properties has received a consensus analysts rating of 4.22. Therefore, it is recommended to buy ELS.
- StrongBuy: 9
- Buy: 4
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 70.2 | 12.9% |
P/E Trailing = 32.155
P/E Forward = 32.1543
P/S = 8.3549
P/B = 7.08
P/EG = 0.8967
Revenue TTM = 1.56b USD
EBIT TTM = 398.4m USD
EBITDA TTM = 608.2m USD
Long Term Debt = 3.20b USD (from longTermDebt, last quarter)
Short Term Debt = 89.5m USD (from shortTermDebt, last quarter)
Debt = 3.29b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.25b USD (calculated: Debt 3.29b - CCE 39.2m)
Enterprise Value = 16.1b USD (12.9b + Debt 3.29b - CCE 39.2m)
Interest Coverage Ratio = 2.92 (Ebit TTM 398.4m / Interest Expense TTM 136.4m)
EV/FCF = 48.04x (Enterprise Value 16.1b / FCF TTM 336.0m)
FCF Yield = 2.08% (FCF TTM 336.0m / Enterprise Value 16.1b)
FCF Margin = 21.52% (FCF TTM 336.0m / Revenue TTM 1.56b)
Net Margin = 24.67% (Net Income TTM 385.2m / Revenue TTM 1.56b)
Gross Margin = 31.52% ((Revenue TTM 1.56b - Cost of Revenue TTM 1.07b) / Revenue TTM)
Gross Margin QoQ = 27.44% (prev 3.74%)
Tobins Q-Ratio = 2.81 (Enterprise Value 16.1b / Total Assets 5.75b)
Interest Expense / Debt = 4.15% (Interest Expense 136.4m / Debt 3.29b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 314.7m (EBIT 398.4m * (1 - 21.00%))
Current Ratio = 0.18 (Total Current Assets 129.5m / Total Current Liabilities 727.5m)
Debt / Equity = 1.87 (Debt 3.29b / totalStockholderEquity, last quarter 1.76b)
Debt / EBITDA = 5.35 (Net Debt 3.25b / EBITDA 608.2m)
Debt / FCF = 9.68 (Net Debt 3.25b / FCF TTM 336.0m)
Total Stockholder Equity = 1.75b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.76% (Net Income 385.2m / Total Assets 5.75b)
RoE = 22.01% (Net Income TTM 385.2m / Total Stockholder Equity 1.75b)
RoCE = 8.05% (EBIT 398.4m / Capital Employed (Equity 1.75b + L.T.Debt 3.20b))
RoIC = 6.21% (NOPAT 314.7m / Invested Capital 5.07b)
WACC = 5.14% (E(12.9b)/V(16.2b) * Re(5.61%) + D(3.29b)/V(16.2b) * Rd(4.15%) * (1-Tc(0.21)))
Discount Rate = 5.61% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 86.67 | Cagr: 1.06%
[DCF] Terminal Value 74.50% ; FCFF base≈345.4m ; Y1≈327.7m ; Y5≈310.0m
[DCF] Fair Price = 8.41 (EV 4.88b - Net Debt 3.25b = Equity 1.63b / Shares 193.9m; r=8.35% [WACC [floored]]; 5y FCF grow -6.57% → 2.50% )
EPS Correlation: 97.44 | EPS CAGR: 9.92% | SUE: 0.0 | # QB: 0
Revenue Correlation: 71.42 | Revenue CAGR: 2.36% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.44 | Chg30d=+0.14% | Revisions=-33% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.50 | Chg30d=+0.14% | Revisions=+0% | Analysts=5
EPS current Year (2026-12-31): EPS=2.01 | Chg30d=+0.14% | Revisions=N/A | GrowthEPS=+2.7% | GrowthRev=+2.6%
EPS next Year (2027-12-31): EPS=2.17 | Chg30d=-0.18% | Revisions=-20% | GrowthEPS=+8.0% | GrowthRev=+4.2%
[Analyst] Revisions Ratio: -33%