(ELS) Equity Lifestyle Properties - Overview

Sector: Real Estate | Industry: REIT - Residential | Exchange: NYSE (USA) | Market Cap: 12.672m USD | Total Return: -0.9% in 12m

Manufactured Housing, RV Resorts, Marinas
Total Rating 34
Safety 27
Buy Signal -0.93
REIT - Residential
Industry Rotation: +3.8
Market Cap: 12.7B
Avg Turnover: 89.1M
Risk 3d forecast
Volatility19.8%
VaR 5th Pctl3.52%
VaR vs Median7.94%
Reward TTM
Sharpe Ratio-0.22
Rel. Str. IBD27
Rel. Str. Peer Group44.7
Character TTM
Beta-0.014
Beta Downside-0.020
Hurst Exponent0.511
Drawdowns 3y
Max DD21.04%
CAGR/Max DD0.04
CAGR/Mean DD0.09
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, "2026-03": 0.54,
EPS CAGR: 14.03%
EPS Trend: 74.2%
Last SUE: 0.00
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, 2026-03: 397.622,
Rev. CAGR: 2.61%
Rev. Trend: 34.9%
Last SUE: 0.02
Qual. Beats: 0

Warnings

Altman Z'' -0.40 < 1.0 - financial distress zone

Tailwinds

No distinct edge detected

Description: ELS Equity Lifestyle Properties

Equity LifeStyle Properties, Inc. (ELS) is a self-managed Real Estate Investment Trust (REIT) focused on the ownership and operation of lifestyle-oriented properties. Headquartered in Chicago and incorporated in 1992, the company maintains a portfolio of 453 properties across 35 U.S. states and British Columbia, totaling over 173,000 sites.

The business model centers on the land-lease requirement, where the REIT owns the land and infrastructure while tenants generally own their individual manufactured homes or recreational vehicles. This sector typically benefits from high switching costs for tenants and steady demand driven by an aging demographic seeking affordable, community-based housing options.

Investors can further examine the companys historical dividend growth and valuation metrics on ValueRay. As a residential REIT, the companys performance is closely tied to occupancy rates and its ability to implement annual rent increases across its geographically diverse portfolio.

Headlines to Watch Out For
  • Core portfolio occupancy levels and annual rent increases drive predictable cash flow
  • Aging population demographics expand the primary customer base for manufactured home communities
  • Elevated interest rates increase debt servicing costs and pressure property acquisition cap rates
  • Severe weather events and rising insurance premiums impact operating margins in coastal regions
  • Transient RV resort demand fluctuates based on fuel prices and discretionary consumer spending
Piotroski VR‑10 (Strict) 3.0
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 0.44%; Δ 3.11k% > 0.5%)
Asset Turnover: 27.42% > 50% (prev 26.11%; Δ 1.31% > 0%)
Interest Coverage Ratio: 2.92 > 6 (EBITDA TTM 608.2m / Interest Expense TTM 136.4m)
Altman Z'' -0.40
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: -0.06 (Book Value of Equity -220.4m / Total Liabilities 3.93b)
Altman-Z'' Score: -0.40 = B
Beneish M -1.97
DSRI: 1.78 (Receivables 90.3m/47.7m, Revenue 1.56b/1.47b)
GMI: 1.38 (GM 31.52% / 43.55%)
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-Score: -1.97 (Cap -4..+1) = B
What is the price of ELS shares? As of May 16, 2026, the stock is trading at USD 61.11 with a total of 1,611,582 shares traded.
Over the past week, the price has changed by -3.37%, over one month by -5.08%, over three months by -9.20% and over the past year by -0.94%.
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 70.4 15.2%
Equity Lifestyle Properties (ELS) - Fundamental Data Overview as of 11 May 2026
P/E Trailing = 31.62
P/E Forward = 31.6456
P/S = 8.2159
P/B = 6.9622
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 (from netDebt column, last quarter)
Enterprise Value = 15.92b USD (12.67b + Debt 3.29b - CCE 39.2m)
Interest Coverage Ratio = 2.92 (Ebit TTM 398.4m / Interest Expense TTM 136.4m)
EV/FCF = 47.40x (Enterprise Value 15.92b / FCF TTM 336.0m)
FCF Yield = 2.11% (FCF TTM 336.0m / Enterprise Value 15.92b)
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 = 2.77 (Enterprise Value 15.92b / Total Assets 5.75b)
Interest Expense / Debt = 1.02% (Interest Expense 33.6m / Debt 3.29b)
Taxrate = 21.0% (US 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 = 6.25% (NOPAT 314.7m / Invested Capital 5.03b)
WACC = 4.87% (E(12.67b)/V(15.96b) * Re(5.93%) + D(3.29b)/V(15.96b) * Rd(1.02%) * (1-Tc(0.21)))
Discount Rate = 5.93% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: 86.67 | Cagr: 1.06%
[DCF] Terminal Value 86.62% ; FCFF base≈345.4m ; Y1≈355.5m ; Y5≈399.5m
[DCF] Fair Price = 44.25 (EV 11.83b - Net Debt 3.25b = Equity 8.58b / Shares 193.9m; r=6.0% [WACC]; 5y FCF grow 2.90% → 3.0% )
EPS Correlation: 74.22 | EPS CAGR: 14.03% | SUE: 0.0 | # QB: 0
Revenue Correlation: 34.88 | Revenue CAGR: 2.61% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.44 | Chg30d=-2.38% | Revisions=-33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.50 | Chg30d=-0.44% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=2.01 | Chg30d=-0.80% | Revisions=-33% | GrowthEPS=+2.7% | GrowthRev=+2.6%
EPS next Year (2027-12-31): EPS=2.17 | Chg30d=-0.22% | Revisions=-20% | GrowthEPS=+8.4% | GrowthRev=+4.4%
[Analyst] Revisions Ratio: -33%