Tearsheet

Equity Lifestyle Properties (ELS)

Market Price (12/29/2025): $61.21 | Market Cap: $11.8 Bil
Sector: Real Estate | Industry: Single-Family Residential REITs

Equity Lifestyle Properties (ELS)

Market Price (12/29/2025): $61.21
Market Cap: $11.8 Bil
Sector: Real Estate
Industry: Single-Family Residential REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, Dividend Yield is 3.3%	Weak multi-year price returns 2Y Excs Rtn is -54%, 3Y Excs Rtn is -75%	Key risks ELS key risks include [1] its substantial indebtedness and refinancing sensitivity, Show more.
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%
2	Low stock price volatility Vol 12M is 20%
3	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, Experience Economy & Premiumization, and Sustainable & Green Buildings. Themes include Senior Housing & Communities, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, Dividend Yield is 3.3%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%
2	Low stock price volatility Vol 12M is 20%
3	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, Experience Economy & Premiumization, and Sustainable & Green Buildings. Themes include Senior Housing & Communities, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -54%, 3Y Excs Rtn is -75%
5	Key risks ELS key risks include [1] its substantial indebtedness and refinancing sensitivity, Show more.

Valuation, Metrics & Events

	12/29/25	2024	2023	2022	2021
Share Price CYE	$61.21	$64.43	$66.31	$59.11	$78.29
Market Cap CYE ($ Bil)	11.8	12.3	12.3	11.0	14.4
Total Debt ($ Bil)	3.3	3.2	3.5	3.4	3.3
Total Cash ($ Bil)	0.0	0.0	0.0	0.0	0.1
Enterprise Value ($ Bil)	15.1	15.5	15.8	14.4	17.7
Valuation Ratios
P/S TTM	8.1	8.7	9.3	8.7	12.8
P/EBIT TTM	22.4	23.9	29.1	28.9	41.7
P/E TTM	30.9	34.0	41.8	42.2	61.1
P/FCF TTM	35.2	35.1	56.8	53.0	52.6
Sector Ratios
P/S TTM (Sector)	4.0	4.1	4.2	4.3	6.8
P/EBIT TTM (Sector)	12.1	13.1	13.2	13.6	16.3
P/E TTM (Sector)	19.2	21.5	20.0	18.5	24.4
P/FCF TTM (Sector)	12.0	13.0	12.1	11.0	16.9

	12/29/25	2024	2023
Share Price CYE	$61.21	$64.43	$66.31
Market Cap CYE ($ Bil)	11.8	12.3	12.3
Total Debt ($ Bil)	3.3	3.2	3.5
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	15.1	15.5	15.8
Valuation Ratios
P/S TTM	8.1	8.7	9.3
P/EBIT TTM	22.4	23.9	29.1
P/E TTM	30.9	34.0	41.8
P/FCF TTM	35.2	35.1	56.8
Sector Ratios
P/S TTM (Sector)	4.0	4.1	4.2
P/EBIT TTM (Sector)	12.1	13.1	13.2
P/E TTM (Sector)	19.2	21.5	20.0
P/FCF TTM (Sector)	12.0	13.0	12.1

	ELS	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	1.5
Rev Chg Q	2.0%	7.3%
Rev Chg LTM	0.5%	6.1%
Rev Chg 3Y Avg	1.9%	5.5%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.5
CFO LTM ($ Bil)	0.6
Net Inc LTM ($ Bil)	0.4
Op Mgn LTM	31.1%	18.8%
CFO/Rev LTM	39.7%	20.4%
Net Inc Mgn	26.3%	13.1%
VALUATION	VERY HIGH
P/S	8.1	3.3
P/CFO	20.5	15.8
P/FCF	35.2	20.7
P/E	30.9	23.7

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Metric	Value	Date	Source
Number of Properties	455	9302025	Link
Number of Sites	173201	1272025	Link
Manufactured Home Occupancy Rate	93.9%	7222025	Link
Average Monthly Base Rent per Site (Manufactured Home)	904	7222025	Link
Number of Marinas	23	11072025	Link
Number of Marina Slips	6900	11072025	Link

Recent
12/26/2025	Dividend	Amount: $0.52 Payment On: 1/09/2026
Upcoming
1/26/2026	Earnings Release	Rev: $382 Mil (E) EPS: $0.78 (E)
4/20/2026	Earnings Release	Rev: - EPS: -

ELS Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points for why Equity Lifestyle Properties (ELS) stock experienced movement during the approximate time period from August 31, 2025, to December 29, 2025:

1. Strong Q3 2025 Earnings Performance but Investor Concerns: Equity Lifestyle Properties reported robust third-quarter 2025 earnings, surpassing analyst expectations with an Earnings Per Share (EPS) of $0.50 against a forecast of $0.46, and revenue reaching $393.3 million compared to an expected $328.65 million. Despite these strong financial results, the stock saw a 5.14% decline to $63.37 on October 23, 2025, suggesting that other market factors or forward-looking concerns influenced investor sentiment more significantly than the positive earnings beat.

2. Challenges in Canadian Reservations Impacting Future Outlook: A notable factor contributing to investor caution, even with strong Q3 earnings, was the company's mention of challenges concerning Canadian reservations. This aspect was highlighted as potentially impacting Equity Lifestyle Properties' future growth trajectory, likely leading to some downward pressure on the stock after its earnings release.

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Stock Movement Drivers

Fundamental Drivers

The 3.7% change in ELS stock from 9/28/2025 to 12/28/2025 was primarily driven by a 3.4% change in the company's Net Income Margin (%).

	9282025	12282025	Change
Stock Price ($)	59.03	61.20	3.67%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1447.82	1454.98	0.49%
Net Income Margin (%)	25.40%	26.26%	3.38%
P/E Multiple	30.66	30.92	0.84%
Shares Outstanding (Mil)	190.99	193.00	-1.05%
Cumulative Contribution			3.66%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025

	Return	Correlation
ELS	3.7%
Market (SPY)	4.3%	-10.7%
Sector (XLRE)	-3.2%	53.1%

Fundamental Drivers

The 1.3% change in ELS stock from 6/29/2025 to 12/28/2025 was primarily driven by a 3.9% change in the company's Net Income Margin (%).

	6292025	12282025	Change
Stock Price ($)	60.42	61.20	1.28%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1450.21	1454.98	0.33%
Net Income Margin (%)	25.26%	26.26%	3.95%
P/E Multiple	31.49	30.92	-1.83%
Shares Outstanding (Mil)	190.93	193.00	-1.09%
Cumulative Contribution			1.27%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025

	Return	Correlation
ELS	1.3%
Market (SPY)	12.6%	-4.4%
Sector (XLRE)	-0.7%	55.6%

Fundamental Drivers

The -5.0% change in ELS stock from 12/28/2024 to 12/28/2025 was primarily driven by a -6.5% change in the company's P/E Multiple.

	12282024	12282025	Change
Stock Price ($)	64.43	61.20	-5.01%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1448.28	1454.98	0.46%
Net Income Margin (%)	25.06%	26.26%	4.76%
P/E Multiple	33.07	30.92	-6.52%
Shares Outstanding (Mil)	186.33	193.00	-3.58%
Cumulative Contribution			-5.14%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025

	Return	Correlation
ELS	-5.0%
Market (SPY)	17.0%	15.8%
Sector (XLRE)	2.3%	64.2%

Fundamental Drivers

The 2.4% change in ELS stock from 12/29/2022 to 12/28/2025 was primarily driven by a 30.4% change in the company's Net Income Margin (%).

	12292022	12282025	Change
Stock Price ($)	59.77	61.20	2.39%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1376.37	1454.98	5.71%
Net Income Margin (%)	20.14%	26.26%	30.40%
P/E Multiple	40.07	30.92	-22.84%
Shares Outstanding (Mil)	185.81	193.00	-3.87%
Cumulative Contribution			2.24%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025

	Return	Correlation
ELS	-7.7%
Market (SPY)	48.4%	14.3%
Sector (XLRE)	7.1%	64.0%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ELS Return	-8%	41%	-25%	12%	-3%	-5%	2%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
ELS Win Rate	50%	75%	42%	50%	42%	42%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
ELS Max Drawdown	-36%	-7%	-33%	-4%	-14%	-11%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See ELS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	ELS	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	52.2%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-41.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	70.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	477 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-11.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	12.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	113 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-59.9%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	149.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	889 days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Equity Lifestyle Properties's stock fell -34.3% during the 2022 Inflation Shock from a high on 9/2/2021. A -34.3% loss requires a 52.2% gain to breakeven.

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About Equity Lifestyle Properties (ELS)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.

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Here are 1-2 brief analogies for Equity Lifestyle Properties (ELS):

Public Storage (PSA), but for manufactured homes, RVs, and boats. ELS owns and leases land/sites for these assets, similar to how Public Storage leases units for personal belongings.
An apartment landlord like Equity Residential (EQIX), but focused on renting land sites for manufactured homes, RVs, and boat slips. ELS functions as a landlord for specialized residential and recreational communities.

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Manufactured Home Community Lot Leases: Leasing developed land lots for residents to place their manufactured homes in long-term communities.
RV Resort Site Leases: Providing rental sites for recreational vehicles, ranging from short-term stays to seasonal or annual leases, often with amenities.
Marina Slip Leases: Offering rental slips or moorings for recreational boats in strategically located marina properties.

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Major Customers of Equity Lifestyle Properties (ELS)

Equity Lifestyle Properties (ELS) is a Real Estate Investment Trust (REIT) that owns and operates a portfolio of high-quality manufactured home communities, RV resorts, and marinas. As such, the company primarily sells its services (land leases and space rentals) directly to individuals.

The up to three main categories of individual customers served by ELS are:

Manufactured Home Residents: These are individuals and families who own their manufactured homes but lease the land beneath them from ELS. This category often includes retirees or those seeking an affordable lifestyle in desirable locations, enjoying community amenities and a sense of neighborhood.
RV Resort Guests/Residents: This group comprises individuals and families who own recreational vehicles (RVs) and rent spaces at ELS's RV resorts. This can include vacationers seeking short-term stays, seasonal residents who stay for extended periods (e.g., snowbirds), and a growing number of full-time RVers.
Marina Slip Renters: These customers are boat owners who rent slips or moorings at ELS's marinas. They typically use these facilities to dock their boats, access water recreation, and often enjoy related amenities provided by the marina.

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Marguerite Nader, Vice Chairman and Chief Executive Officer

Marguerite Nader was appointed Chief Executive Officer in February 2013 and became Vice Chairman in 2025. She joined Equity Lifestyle Properties (ELS) in 1993. Prior to her CEO role, she served as President and Chief Financial Officer in 2012, and as Executive Vice President and Chief Financial Officer from 2011 to 2012. Her tenure at ELS includes various leadership positions in new business development, sales, marketing, and asset management. Ms. Nader also serves on the Board of Directors for Ventas, Inc., a real estate investment trust.

Paul Seavey, Executive Vice President and Chief Financial Officer

Paul Seavey has served as Executive Vice President and Chief Financial Officer of ELS since 2020. He has been with the company since 1994, holding progressively senior financial roles including Executive Vice President, Chief Financial Officer and Treasurer from 2014 to 2020, and Senior Vice President, Chief Financial Officer and Treasurer from 2012 to 2014. His experience within ELS also encompasses roles as Senior Vice President of Finance and Treasurer, Senior Vice President and Treasurer, and various Vice President positions in financial planning and treasury.

Patrick Waite, President and Chief Operating Officer

Patrick Waite assumed the role of President and Chief Operating Officer in 2025, having served as Executive Vice President and Chief Operating Officer at ELS since January 2015. Before rejoining ELS in 2013, he was a Senior Vice President of Asset Management at American Residential Communities from 2010 to 2013. Earlier in his career, Mr. Waite was a Vice President with Riverside Communities from 2004 to 2010 and co-founded Continental Communities, where he managed acquisitions from 1997 to 2001. He also had a previous tenure at ELS as Director of Acquisitions from 1993 to 1997.

Thomas Heneghan, Chairman

Thomas Heneghan has been the Chairman of Equity Lifestyle Properties since 2023. He previously served as the Chief Executive Officer of ELS from 2004 to 2013 and held the title of President at various times between 2004 and 2012. His extensive history with the company includes roles as President and Chief Operating Officer, and Executive Vice President, Chief Financial Officer and Treasurer. From 2013, Mr. Heneghan was also the CEO of Equity International, a private equity firm, and has served as a Director of Farmland Partners Inc.

David P. Eldersveld, Executive Vice President, Chief Legal Officer and Corporate Secretary

David P. Eldersveld has been the Executive Vice President, Chief Legal Officer, and Corporate Secretary of ELS since 2021. Prior to this, he served as Executive Vice President, General Counsel and Secretary from 2015 to 2021. Before joining Equity Lifestyle Properties, Mr. Eldersveld held leadership legal positions at Tribune Co, including Executive Vice President, General Counsel and Corporate Secretary from 2011 to 2013, and Senior Vice President, General Counsel and Corporate Secretary from 2010 to 2011. He also worked at Sidley Austin LLP from 1999 to 2005.

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The key risks to Equity Lifestyle Properties (ELS) include economic and market risks, the seasonality and cyclicality of its leisure segments, and regulatory risks.

Economic and Market Risks: Equity Lifestyle Properties is significantly exposed to changes in economic conditions, such as inflation, interest rates, and economic downturns. These factors can adversely affect the demand for the company's properties and its overall financial performance. The company's substantial indebtedness and reliance on external capital also make it sensitive to fluctuations in market interest rates and its ability to refinance maturing mortgages. Furthermore, softening discretionary travel spending is impacting the more cyclical transient RV business, though currently offset by the stable manufactured home segment.
Seasonality and Cyclicality of Leisure Segments: While the manufactured home (MH) segment provides a stable revenue base, the recreational vehicle (RV) and marina segments are subject to seasonality and cyclicality. These leisure segments have shown stress, which can impact cash flows and offset the stability derived from the manufactured home portfolio.
Regulatory Risks: Changes in federal and state laws and regulations pose a risk to ELS. This includes potential rent control legislation, which could negatively affect operations and the market price of the company's stock. Additionally, compliance with environmental and utility-related laws could lead to costly expenditures.

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Equity Lifestyle Properties (ELS) operates in three primary business segments across North America, with a significant presence in the U.S.: manufactured home communities, RV resorts and campgrounds, and marinas.

Manufactured Home Communities

The addressable market for manufactured homes in the United States is estimated at approximately $13.74 billion in 2025. The U.S. currently has around 4.3 million manufactured home sites across roughly 44,000 communities. Another report indicates the U.S. manufactured homes market was valued at $25.91 billion in 2024 and is projected to reach $43.43 billion by 2034.

RV Resorts and Campgrounds

The addressable market for the Campgrounds & RV Parks industry in the United States is valued at approximately $10.9 billion in 2025. The global recreational vehicle parks and campgrounds market size is estimated at $7.33 billion in 2025. The North American market alone surpassed $3.36 billion in 2024.

Marinas

The addressable market for Marinas in the U.S. is projected to be approximately $7.7 billion in 2025. Other estimates for the U.S. marinas market size in 2025 range from approximately $18.99 billion to $19.47 billion. The global marinas market was valued at approximately $25.68 billion in 2025.

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Equity Lifestyle Properties (ELS) is expected to drive future revenue growth over the next two to three years through several key strategies:

Consistent Rent Increases: The company has demonstrated and plans for continued pricing power, particularly within its manufactured housing (MH) segment. For instance, an average rent increase of 5.1% for half of its manufactured housing residents is planned for 2026. This strategy, applied to renewing residents and market rents for new residents after turnover, significantly contributes to core community-based rental income.
Expansion of Manufactured Housing and RV Sites: ELS actively develops new sites within its portfolio. Over the past five years, the company has developed nearly 5,000 MH and RV sites, achieving stabilized yields ranging from 7% to 10%. A pipeline of an additional 3,000 sites in various stages of development signals ongoing growth through increasing its revenue-generating asset base.
Occupancy Growth in Existing and New Properties: A focus on increasing occupancy rates, especially within its manufactured housing portfolio, is a clear driver. The affordability and high-quality amenities offered in ELS's manufactured homes are expected to contribute to this growth, leading to higher rental income from existing and newly developed sites.
Strategic Focus on High-Demand Sunbelt and Coastal Markets: ELS maintains a strong presence and continues to expand its portfolio in high-demand Sunbelt and Coastal markets. These regions benefit from favorable demographic trends, which support both strong occupancy and the ability to implement rent increases for its RV resorts, manufactured housing communities, and marinas.

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Share Repurchases

Equity Lifestyle Properties made share repurchases of approximately $3.96 million in Q1 2020.
The company repurchased approximately $2.81 million in Q1 2021 and $3.45 million in Q1 2022.
In Q1 2023, share repurchases amounted to approximately $1.93 million.

Share Issuance

Share issuance has served as a source of financing for Equity Lifestyle Properties in certain years.
The number of shares outstanding increased by 1.23% in 2022 from 2021, and by 0.09% in 2023 from 2022.
Shares outstanding increased by 0.62% in 2024 from 2023, and by 2.36% year-over-year for the quarter ending September 30, 2025.

Outbound Investments

Equity Lifestyle Properties has a strong commitment to acquire additional investment-grade manufactured housing communities and RV resorts.
Growth strategies for the company often involve acquisitions and expansions of existing properties.
ELS specifically acquired two additional properties in 2021 as part of its growth strategy.

Capital Expenditures

Capital expenditures were approximately -$742.17 million USD in 2021.
In 2023, capital expenditures were approximately -$326.41 million USD, followed by -$242.61 million USD in 2024.
These expenditures primarily reflect investments in property development and enhancements, with an ongoing focus on identifying and prioritizing capital improvements within communities.

Better Bets than Equity Lifestyle Properties (ELS)

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American Homes 4 Rent

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American Homes 4 Rent

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Higher Total Yield (Value for ELS: 6.6%)

AMH (7.5%)

American Homes 4 Rent

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SECTOR: Real Estate

Higher Rev Chg 3Y Avg | Lower P/S (Values for ELS: 1.9% | 8.1x)

CBRE (8.2% | 1.2x)

CBRE

VTR (10.7% | 6.5x)

Ventas

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IRM (10.1% | 3.7x)

Iron Mountain

EQR (5.3% | 7.9x)

Equity Residential

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ELS: 1.9% | 26.1x)

SPG (5.7% | 19.6x)

Simon Property

O (21.5% | 20.2x)

Realty Income

PSA (6.1% | 20.4x)

Public Storage

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EXR (22.9% | 19.1x)

Extra Space Storage

Higher Rev Chg LTM (Value for ELS: 0.5%)

WELL (32.6%)

Welltower

PLD (10.7%)

Prologis

EQIX (5.4%)

Equinix

AMT (4.2%)

American Tower

SPG (4.2%)

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Higher Rev Chg 3Y Avg (Value for ELS: 1.9%)

WELL (20.9%)

Welltower

PLD (18.1%)

Prologis

DLR (9.1%)

Digital Realty Trust

EQIX (8.5%)

Equinix

SPG (5.7%)

Simon Property

Higher Op Mgn LTM (Value for ELS: 31.1%)

SPG (50.7%)

Simon Property

PSA (47.0%)

Public Storage

AMT (46.4%)

American Tower

O (45.7%)

Realty Income

PLD (39.8%)

Prologis

Higher CFO/Rev LTM (Value for ELS: 39.7%)

SPG (65.3%)

Simon Property

PLD (59.3%)

Prologis

AMT (50.1%)

American Tower

DLR (41.6%)

Digital Realty Trust

EQIX (41.4%)

Equinix

Higher FCF/Rev LTM (Value for ELS: 23.1%)

PLD (59.3%)

Prologis

SPG (50.7%)

Simon Property

DLR (41.6%)

Digital Realty Trust

AMT (35.3%)

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Berkshire Hathaway

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JPMorgan Chase

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JNJ (6.1% | 5.4x)

Johnson & Johnson

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META (17.3% | 20.4x)

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JNJ (6.1% | 20.7x)

Johnson & Johnson

V (10.9% | 17.3x)

Visa

HD (1.9% | 16.1x)

Home Depot

MU (28.3% | 23.3x)

Micron Technology

Higher Rev Chg LTM (Value for ELS: 0.5%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for ELS: 1.9%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

Higher Op Mgn LTM (Value for ELS: 31.1%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for ELS: 39.7%)

META (56.8%)

Meta Platforms

MA (56.1%)

Mastercard

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

AVGO (43.1%)

Broadcom

Higher FCF/Rev LTM (Value for ELS: 23.1%)

AVGO (42.1%)

Broadcom

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

Higher Total Yield (Value for ELS: 6.6%)

XOM (9.2%)

Exxon Mobil

WFC (8.7%)

Wells Fargo

JNJ (7.5%)

Johnson & Johnson

BAC (7.1%)

Bank of America

HD (6.8%)

Home Depot

		Best Bets In Real Estate Sector
	ELS	CTRE	WPC	NNN	ADC	OHI	O	EPRT	GLPI	EPR	FCPT
What You Pay
P/E	30.9	29.7	39.2	18.9	41.6	24.4	53.9	24.5	16.3	19.1	22.3
P/EBIT	22.4	25.8	20.6	12.6	24.9	16.6	24.2	17.2	10.7	11.6	15.2
What You Get
Rev Chg Q	2.0%	82.4%	8.5%	5.3%	18.7%	12.9%	9.1%	23.7%	3.2%	4.3%	11.0%
Rev Chg LTM	0.5%	47.6%	5.6%	4.5%	14.7%	13.7%	14.7%	24.2%	4.4%	4.2%	8.3%
Rev Chg 3Y Avg	1.9%	21.2%	5.6%	6.0%	19.5%	6.3%	21.5%	24.2%	7.4%	3.9%	9.5%
FCF/Rev 3Y Avg	20.7%	88.9%	84.4%	73.6%	73.1%	71.6%	69.5%	69.3%	65.4%	63.9%	61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Equity Lifestyle Properties Earnings Notes
2	Equity Lifestyle Properties Earnings Notes
3	How Low Can Equity Lifestyle Properties Stock Really Go?	Return
4	Equity Lifestyle Properties vs Apple: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	Equity Lifestyle Properties vs Simon Property: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	How Does Equity Lifestyle Properties Stock Stack Up Against Its Peers?	Peer Comparison
7	Better Bet Than ELS Stock: Pay Less Than Equity Lifestyle Properties To Get More From GOOGL, V
8	Better Bet Than ELS Stock: Pay Less Than Equity Lifestyle Properties To Get More From O, EXR
9	ELS Dip Buy Analysis
10	Equity Lifestyle Properties Total Shareholder Return (TSR): 0.3% in 2024 and -3.5% 3-yr compounded annual returns (below peer average)

	Title
0	ARTICLES

Trade Ideas

Select ideas related to ELS. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
MPW_10312025_Short_Squeeze	10312025	MPW	Medical Properties Trust	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-0.1%	-0.1%	-5.8%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Equity Lifestyle Properties

Peers to compare with:

Financials

	ELS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Equity L.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	61.20	23.26	24.49	305.09	78.16	273.40	69.68
Mkt Cap	11.8	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	1,455	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	453	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	335	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	296	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	577	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	562	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	ELS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Equity L.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	0.5%	3.2%	13.8%	4.5%	8.9%	6.0%	5.2%
Rev Chg 3Y Avg	1.9%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.3%
Rev Chg Q	2.0%	4.2%	14.4%	9.1%	7.5%	9.6%	8.3%
QoQ Delta Rev Chg LTM	0.5%	1.1%	3.7%	2.1%	1.8%	2.1%	2.0%
Op Mgn LTM	31.1%	6.6%	4.8%	17.7%	22.5%	31.9%	20.1%
Op Mgn 3Y Avg	28.3%	7.4%	7.2%	16.4%	24.2%	30.8%	20.3%
QoQ Delta Op Mgn LTM	0.5%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	39.7%	6.7%	8.5%	20.6%	23.8%	26.6%	22.2%
CFO/Rev 3Y Avg	39.5%	6.8%	12.7%	21.4%	26.1%	28.4%	23.8%
FCF/Rev LTM	23.1%	5.1%	1.8%	18.1%	22.1%	23.5%	20.1%
FCF/Rev 3Y Avg	20.7%	5.5%	4.6%	18.6%	24.6%	25.6%	19.7%

Valuation

	ELS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Equity L.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	11.8	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	8.1	0.4	1.0	4.4	5.4	10.0	4.9
P/EBIT	22.4	6.8	19.9	25.1	22.5	31.3	22.4
P/E	30.9	8.6	572.7	36.0	29.9	41.0	33.5
P/CFO	20.5	5.9	11.2	21.1	22.5	37.5	20.8
Total Yield	6.6%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	3.3%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	2.4%	10.6%	5.5%	6.4%	6.0%	3.1%	5.7%
D/E	0.3	0.5	0.7	0.2	0.1	0.0	0.3
Net D/E	0.3	0.3	0.6	0.2	0.0	0.0	0.2

Returns

	ELS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Equity L.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	-1.8%	-3.6%	12.7%	-1.1%	1.6%	-2.0%	-1.5%
3M Rtn	3.7%	-11.9%	2.7%	7.9%	17.0%	7.1%	5.4%
6M Rtn	1.3%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	-5.0%	-27.0%	16.2%	40.5%	34.5%	7.5%	11.8%
3Y Rtn	2.4%	-3.7%	67.3%	141.3%	79.6%	114.1%	73.5%
1M Excs Rtn	-4.5%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-3.0%
3M Excs Rtn	-0.6%	-16.2%	-1.7%	3.6%	12.7%	2.8%	1.1%
6M Excs Rtn	-11.0%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	-21.1%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	-74.9%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

Comparison Analyses

	Title
0	How Does Equity Lifestyle Properties Stock Stack Up Against Its Peers?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/29/2025	2/25/2025	2/22/2024	2/21/2023	2/22/2022	2/23/2021	2/24/2020
Key Financials
Total Revenue	1,455	1,433	1,404	1,375	1,255	1,108	1,021
Net Income	382	367	314	285	262	228	279
EPS	1.99	1.96	1.69	1.53	1.43	1.26	1.54
Growth Rates
Total Revenue Growth	0.5%	2.1%	2.1%	9.6%	13.3%	8.5%	5.4%
Net Income Growth	5.2%	16.8%	10.4%	8.4%	15.0%	-18.2%	31.3%
Margins
Net Income Margin	26.3%	25.6%	22.4%	20.7%	20.9%	20.6%	27.4%
Cash & Debt
Total Cash	13	6	4	3	94	24	29
Total Debt	3,277	3,205	3,519	3,388	3,274	2,667	2,408
Net Debt / (Cash)	3,264	3,199	3,514	3,385	3,180	2,643	2,380
Cash Flows
Net Cash from Operations	577	597	548	476	509	417	444
Free Cash from Operations	335	355	231	227	305	249	186
Returns to Shareholders
Dividends	395	368	343	311	276	257	229
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/29/2025	7/29/2025	4/30/2025	2/25/2025	10/30/2024	7/30/2024	5/1/2024	2/22/2024	10/25/2023	8/3/2023	4/25/2023	2/21/2023
Key Financials Quarterly
Total Revenue	373	373	368	342	366	375	367	340	369	365	348	281
Net Income	97	80	109	96	83	78	110	92	77	63	82	73
EPS	0.50	0.42	0.57	0.50	0.44	0.42	0.59	0.49	0.41	0.34	0.44	0.39
Key Financials TTM
Total Revenue TTM	1,455	1,448	1,450	1,449	1,448	1,451	1,441	1,422	1,363	1,371	1,366	1,375
Net Income TTM	382	368	366	367	363	357	342	314	295	286	284	285
Growth Rates Quarterly
Total Revenue Growth	2.0%	-0.6%	0.2%	0.4%	-0.6%	2.7%	5.4%	21.2%	-2.2%	1.2%	-2.4%	-0.5%
Net Income Growth	17.3%	1.8%	-0.6%	4.4%	7.6%	24.4%	33.4%	25.9%	14.6%	2.3%	-0.6%	11.4%
Margins Quarterly
Net Income Margin	26.0%	21.4%	29.7%	28.1%	22.6%	20.9%	30.0%	27.0%	20.9%	17.2%	23.7%	26.0%
Cash & Debt
Total Cash	13	10	26	6	18	13	15	4	38	7	11	3
Total Debt	3,277	3,247	3,175	3,205	3,474	3,471	3,479	3,519	3,502	3,451	3,386	3,388
Net Debt / (Cash)	3,264	3,237	3,149	3,199	3,456	3,458	3,464	3,514	3,464	3,444	3,375	3,385
Cash Flows Quarterly
FCF from Operations	147	131	193	105	150	143	199	129	152	108	159	71
Cash Flows TTM
FCF from Operations TTM	577	580	591	597	621	623	588	548	489	439	480	476
Returns to Shareholders Quarterly
Dividends	103	103	96	93	93	93	88	87	87	87	80	80
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	8.3%	8.6%	9.6%	8.5%	7.9%	8.4%	9.0%	7.7%	7.5%	7.4%	8.0%	3.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	8.6%	8.5%	8.6%	8.4%	8.3%	8.2%	7.9%	7.6%	6.6%	6.7%	6.7%	6.9%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Property Operations	1,362	1,297	1,193	1,022	973
Home Sales and Rentals Operations	110	141	119	66	54
Corporate interest income	9	0	0	0	0
Income from other investments, net	9	9	5	4	10
Total	1,489	1,447	1,316	1,091	1,037

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Property Operations	5,342	5,229	5,057	4,160	3,879
Home Sales and Rentals Operations	271	264	251	259	273
Total	5,614	5,493	5,308	4,419	4,151

Price Behavior

Price Behavior

Market Price	$61.20
Market Cap ($ Bil)	11.8
First Trading Date	02/25/1993
Distance from 52W High	-8.7%
	50 Days	200 Days
DMA Price	$61.28	$61.34
DMA Trend	indeterminate	indeterminate
Distance from DMA	-0.1%	-0.2%
	3M	1YR
Volatility	17.3%	19.9%
Downside Capture	-22.17	12.97
Upside Capture	-0.28	5.81
Correlation (SPY)	-10.4%	16.1%

ELS Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.07	-0.13	-0.04	-0.03	0.19	0.36
Up Beta	-0.01	0.20	0.28	0.44	0.31	0.41
Down Beta	0.36	-0.03	-0.09	-0.27	0.14	0.24
Up Capture	32%	-10%	4%	-5%	3%	11%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	10	24	33	60	122	380
Down Capture	-11%	-40%	-27%	-13%	24%	69%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	17	29	65	126	367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of ELS With Other Asset Classes (Last 1Y)
	ELS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-4.4%	2.7%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	19.7%	16.8%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	-0.34	-0.01	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		64.4%	16.5%	10.2%	-6.7%	64.7%	-3.9%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of ELS With Other Asset Classes (Last 5Y)
	ELS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	2.3%	5.3%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	22.2%	19.1%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	0.06	0.19	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		74.4%	40.6%	14.7%	5.0%	75.1%	12.9%

Based On 10-Year Data

		Comparison of ELS With Other Asset Classes (Last 10Y)
	ELS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.1%	6.3%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	24.2%	20.6%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.37	0.27	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		76.0%	48.3%	14.6%	11.7%	78.0%	10.5%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	8,738,575
Short Interest: % Change Since 11302025	3.7%
Average Daily Volume	1,522,859
Days-to-Cover Short Interest	5.74
Basic Shares Quantity	193,004,000
Short % of Basic Shares	4.5%

Returns Analyses

	Title
0	How Low Can Equity Lifestyle Properties Stock Really Go?
1	Equity Lifestyle Properties Stock Return Comparison
2	[10/6/2021] Equity Lifestyle Properties (ELS) Stock Price Forecast: AI Forecasts ELS Stock Price To Be Around $80.9 In A Month (Up 0.8%)
3	Equity Lifestyle Properties Total Shareholder Return (TSR): -24.6% in 2022 and -0.9% 3-yr returns (above peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/22/2025	-0.3%	-5.3%	-1.6%
4/22/2025	-1.1%	-0.9%	1.4%
1/28/2025	-3.9%	-5.8%	-2.9%
10/22/2024	1.0%	1.4%	4.2%
7/23/2024	-2.1%	-1.1%	4.5%
4/23/2024	-1.5%	-3.2%	3.1%
1/22/2024	-2.8%	-3.0%	-2.5%
10/17/2023	4.3%	-0.8%	5.8%
...
SUMMARY STATS
# Positive	7	9	12
# Negative	13	11	8
Median Positive	1.2%	2.8%	3.3%
Median Negative	-1.6%	-2.4%	-2.7%
Max Positive	4.3%	6.5%	5.8%
Max Negative	-3.9%	-6.7%	-7.7%

	Forward Returns
7/22/2025	-0.3%	-5.3%	-1.6%
4/22/2025	-1.1%	-0.9%	1.4%
1/28/2025	-3.9%	-5.8%	-2.9%
10/22/2024	1.0%	1.4%	4.2%
7/23/2024	-2.1%	-1.1%	4.5%
4/23/2024	-1.5%	-3.2%	3.1%
1/22/2024	-2.8%	-3.0%	-2.5%
10/17/2023	4.3%	-0.8%	5.8%
7/18/2023	-1.9%	6.5%	0.4%
10/18/2022	-0.9%	-6.7%	3.1%
7/19/2022	-3.4%	-2.4%	4.7%
4/19/2022	3.2%	3.9%	-7.7%
1/25/2022	0.0%	2.5%	-4.5%
10/19/2021	-0.3%	1.6%	-0.5%
7/20/2021	3.2%	4.4%	5.0%
4/20/2021	0.9%	1.1%	2.4%
1/26/2021	1.2%	-1.1%	-2.9%
10/20/2020	-0.7%	-1.7%	0.1%
7/21/2020	-1.6%	2.8%	3.4%
4/21/2020	-2.6%	3.6%	-1.8%
SUMMARY STATS
# Positive	7	9	12
# Negative	13	11	8
Median Positive	1.2%	2.8%	3.3%
Median Negative	-1.6%	-2.4%	-2.7%
Max Positive	4.3%	6.5%	5.8%
Max Negative	-3.9%	-6.7%	-7.7%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10292025	10-Q 9/30/2025
6302025	7292025	10-Q 6/30/2025
3312025	4302025	10-Q 3/31/2025
12312024	2252025	10-K 12/31/2024
9302024	10302024	10-Q 9/30/2024
6302024	7302024	10-Q 6/30/2024
3312024	5012024	10-Q 3/31/2024
12312023	2222024	10-K 12/31/2023
9302023	10252023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	4252023	10-Q 3/31/2023
12312022	2212023	10-K 12/31/2022
9302022	10212022	10-Q 9/30/2022
6302022	7272022	10-Q 6/30/2022
3312022	4272022	10-Q 3/31/2022
12312021	2222022	10-K 12/31/2021

Insider Activity

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Equity Lifestyle Properties (ELS)

Market Price (12/29/2025): $61.21 | Market Cap: $11.8 BilSector: Real Estate | Industry: Single-Family Residential REITs

Equity Lifestyle Properties (ELS)

Market Price (12/29/2025): $61.21Market Cap: $11.8 BilSector: Real EstateIndustry: Single-Family Residential REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

ELS Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Equity Lifestyle Properties (ELS)

Major Customers of Equity Lifestyle Properties (ELS)

Manufactured Home Communities

RV Resorts and Campgrounds

Marinas

Interactive Breakdown

Better Bets than Equity Lifestyle Properties (ELS)

INDUSTRY: Single-Family Residential REITs

Higher Rev Chg 3Y Avg | Lower P/S (Values for ELS: 1.9% | 8.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ELS: 1.9% | 26.1x)

Higher Rev Chg LTM (Value for ELS: 0.5%)

Higher Rev Chg 3Y Avg (Value for ELS: 1.9%)

Higher Op Mgn LTM (Value for ELS: 31.1%)

Higher CFO/Rev LTM (Value for ELS: 39.7%)

Higher FCF/Rev LTM (Value for ELS: 23.1%)

Higher Total Yield (Value for ELS: 6.6%)

SECTOR: Real Estate

Higher Rev Chg 3Y Avg | Lower P/S (Values for ELS: 1.9% | 8.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ELS: 1.9% | 26.1x)

Higher Rev Chg LTM (Value for ELS: 0.5%)

Higher Rev Chg 3Y Avg (Value for ELS: 1.9%)

Higher Op Mgn LTM (Value for ELS: 31.1%)

Higher CFO/Rev LTM (Value for ELS: 39.7%)

Higher FCF/Rev LTM (Value for ELS: 23.1%)

Higher Total Yield (Value for ELS: 6.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ELS: 1.9% | 8.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ELS: 1.9% | 26.1x)

Higher Rev Chg LTM (Value for ELS: 0.5%)

Higher Rev Chg 3Y Avg (Value for ELS: 1.9%)

Higher Op Mgn LTM (Value for ELS: 31.1%)

Higher CFO/Rev LTM (Value for ELS: 39.7%)

Higher FCF/Rev LTM (Value for ELS: 23.1%)

Higher Total Yield (Value for ELS: 6.6%)

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Market Price (12/29/2025): $61.21 | Market Cap: $11.8 Bil
Sector: Real Estate | Industry: Single-Family Residential REITs

Market Price (12/29/2025): $61.21
Market Cap: $11.8 Bil
Sector: Real Estate
Industry: Single-Family Residential REITs