Equity Lifestyle Properties (ELS)
Market Price (9/13/2026): $60.09 | Market Cap: $11.6 BilSector: Real Estate | Industry: Single-Family Residential REITs
Equity Lifestyle Properties (ELS)
Market Price (9/13/2026): $60.09Market Cap: $11.6 BilSector: Real EstateIndustry: Single-Family Residential REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, Dividend Yield is 3.6% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% Low stock price volatilityVol 12M is 18% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Experience Economy & Premiumization, and Sustainable & Green Buildings. Themes include Senior Housing & Communities, Show more. | Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -71% | Key risksELS key risks include [1] its substantial indebtedness and refinancing sensitivity, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, Dividend Yield is 3.6% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% |
| Low stock price volatilityVol 12M is 18% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Experience Economy & Premiumization, and Sustainable & Green Buildings. Themes include Senior Housing & Communities, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -71% |
| Key risksELS key risks include [1] its substantial indebtedness and refinancing sensitivity, Show more. |
Qualitative Assessment
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Updated on 9/11/2026
Equity Lifestyle Properties (ELS) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance Offered Balanced Market Signals.
Equity Lifestyle Properties reported mixed results for its fiscal Q2 2026 (ended June 30, 2026), which likely contributed to the stock's relatively stable trend. The company missed analysts' consensus earnings per share (EPS) estimates by $0.22, reporting $0.50 per share against an expectation of $0.72. However, this was counterbalanced by a 5.5% year-over-year increase in quarterly revenue to $397.82 million, exceeding consensus estimates. Furthermore, Normalized Funds From Operations (FFO) per common share and OP Unit for the quarter rose 7.7% to $0.74, surpassing the midpoint of the company's previous guidance range, with core portfolio operations generating 6.5% growth in income. This combination of an EPS miss but strong revenue and FFO growth created conflicting signals, preventing a significant directional movement of the stock.
2. Sustained Dividend Payout and Generally Positive Analyst Sentiment Provided a Floor.
The company's commitment to shareholder returns and analysts' moderately optimistic outlook helped maintain investor confidence. Equity Lifestyle Properties reaffirmed its 2026 annual dividend rate at $2.17 per share. This consistent dividend provides income stability for investors. Analysts largely maintained a "Moderate Buy" consensus rating for ELS, with an average 12-month price target ranging from $68.52 to $70.63. Despite a recent 12-day consecutive trading day decline of 8.3% by September 11, 2026, the stock's valuation was considered undervalued by approximately 12.1% against its GF Value™ of $68.56, which likely encouraged some buying interest and limited further downside.
Show more
Equity Lifestyle Properties (ELS) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance Offered Balanced Market Signals.
Equity Lifestyle Properties reported mixed results for its fiscal Q2 2026 (ended June 30, 2026), which likely contributed to the stock's relatively stable trend. The company missed analysts' consensus earnings per share (EPS) estimates by $0.22, reporting $0.50 per share against an expectation of $0.72. However, this was counterbalanced by a 5.5% year-over-year increase in quarterly revenue to $397.82 million, exceeding consensus estimates. Furthermore, Normalized Funds From Operations (FFO) per common share and OP Unit for the quarter rose 7.7% to $0.74, surpassing the midpoint of the company's previous guidance range, with core portfolio operations generating 6.5% growth in income. This combination of an EPS miss but strong revenue and FFO growth created conflicting signals, preventing a significant directional movement of the stock.
2. Sustained Dividend Payout and Generally Positive Analyst Sentiment Provided a Floor.
The company's commitment to shareholder returns and analysts' moderately optimistic outlook helped maintain investor confidence. Equity Lifestyle Properties reaffirmed its 2026 annual dividend rate at $2.17 per share. This consistent dividend provides income stability for investors. Analysts largely maintained a "Moderate Buy" consensus rating for ELS, with an average 12-month price target ranging from $68.52 to $70.63. Despite a recent 12-day consecutive trading day decline of 8.3% by September 11, 2026, the stock's valuation was considered undervalued by approximately 12.1% against its GF Value™ of $68.56, which likely encouraged some buying interest and limited further downside.
Show more
Updated on 9/11/2026
Equity Lifestyle Properties (ELS) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance Offered Balanced Market Signals.
Equity Lifestyle Properties reported mixed results for its fiscal Q2 2026 (ended June 30, 2026), which likely contributed to the stock's relatively stable trend. The company missed analysts' consensus earnings per share (EPS) estimates by $0.22, reporting $0.50 per share against an expectation of $0.72. However, this was counterbalanced by a 5.5% year-over-year increase in quarterly revenue to $397.82 million, exceeding consensus estimates. Furthermore, Normalized Funds From Operations (FFO) per common share and OP Unit for the quarter rose 7.7% to $0.74, surpassing the midpoint of the company's previous guidance range, with core portfolio operations generating 6.5% growth in income. This combination of an EPS miss but strong revenue and FFO growth created conflicting signals, preventing a significant directional movement of the stock.
2. Sustained Dividend Payout and Generally Positive Analyst Sentiment Provided a Floor.
The company's commitment to shareholder returns and analysts' moderately optimistic outlook helped maintain investor confidence. Equity Lifestyle Properties reaffirmed its 2026 annual dividend rate at $2.17 per share. This consistent dividend provides income stability for investors. Analysts largely maintained a "Moderate Buy" consensus rating for ELS, with an average 12-month price target ranging from $68.52 to $70.63. Despite a recent 12-day consecutive trading day decline of 8.3% by September 11, 2026, the stock's valuation was considered undervalued by approximately 12.1% against its GF Value™ of $68.56, which likely encouraged some buying interest and limited further downside.
3. Resilient REIT Sector Performance and Favorable Demographic Tailwinds.
The broader Real Estate Investment Trust (REIT) sector demonstrated strong performance through mid-year 2026, with the FTSE Nareit All Equity Index showing a total return of 14.9%, outperforming the general equity market. Equity Lifestyle Properties also benefits from favorable long-term demographic trends, including an aging U.S. population and persistent housing affordability challenges. These factors continue to drive demand for manufactured home and RV communities, contributing to above-average occupancy levels (over 94% in its Manufactured Home portfolio) and enabling stable long-term rent growth. This robust industry backdrop and specific market advantages provided fundamental support, contributing to ELS's stock stability.
4. Absence of Significant New Catalysts or Large Insider Transactions.
Beyond the fiscal Q2 2026 earnings report, there were no other major company-specific announcements, such as significant acquisitions, divestitures, or unforeseen operational challenges, that would have acted as strong catalysts for substantial stock movement during the period. Furthermore, there was no insider buying or selling activity exceeding USD 5 million reported since May 31, 2026. This lack of major new information or significant insider conviction signals contributed to the stock remaining largely within a contained trading range.
Show less
Equity Lifestyle Properties (ELS) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance Offered Balanced Market Signals.
Equity Lifestyle Properties reported mixed results for its fiscal Q2 2026 (ended June 30, 2026), which likely contributed to the stock's relatively stable trend. The company missed analysts' consensus earnings per share (EPS) estimates by $0.22, reporting $0.50 per share against an expectation of $0.72. However, this was counterbalanced by a 5.5% year-over-year increase in quarterly revenue to $397.82 million, exceeding consensus estimates. Furthermore, Normalized Funds From Operations (FFO) per common share and OP Unit for the quarter rose 7.7% to $0.74, surpassing the midpoint of the company's previous guidance range, with core portfolio operations generating 6.5% growth in income. This combination of an EPS miss but strong revenue and FFO growth created conflicting signals, preventing a significant directional movement of the stock.
2. Sustained Dividend Payout and Generally Positive Analyst Sentiment Provided a Floor.
The company's commitment to shareholder returns and analysts' moderately optimistic outlook helped maintain investor confidence. Equity Lifestyle Properties reaffirmed its 2026 annual dividend rate at $2.17 per share. This consistent dividend provides income stability for investors. Analysts largely maintained a "Moderate Buy" consensus rating for ELS, with an average 12-month price target ranging from $68.52 to $70.63. Despite a recent 12-day consecutive trading day decline of 8.3% by September 11, 2026, the stock's valuation was considered undervalued by approximately 12.1% against its GF Value™ of $68.56, which likely encouraged some buying interest and limited further downside.
3. Resilient REIT Sector Performance and Favorable Demographic Tailwinds.
The broader Real Estate Investment Trust (REIT) sector demonstrated strong performance through mid-year 2026, with the FTSE Nareit All Equity Index showing a total return of 14.9%, outperforming the general equity market. Equity Lifestyle Properties also benefits from favorable long-term demographic trends, including an aging U.S. population and persistent housing affordability challenges. These factors continue to drive demand for manufactured home and RV communities, contributing to above-average occupancy levels (over 94% in its Manufactured Home portfolio) and enabling stable long-term rent growth. This robust industry backdrop and specific market advantages provided fundamental support, contributing to ELS's stock stability.
4. Absence of Significant New Catalysts or Large Insider Transactions.
Beyond the fiscal Q2 2026 earnings report, there were no other major company-specific announcements, such as significant acquisitions, divestitures, or unforeseen operational challenges, that would have acted as strong catalysts for substantial stock movement during the period. Furthermore, there was no insider buying or selling activity exceeding USD 5 million reported since May 31, 2026. This lack of major new information or significant insider conviction signals contributed to the stock remaining largely within a contained trading range.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -1.9% change in ELS stock from 5/31/2026 to 9/12/2026 was primarily driven by a -5.9% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.24 | 60.08 | -1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,479 | 1,497 | 1.2% |
| Net Income Margin (%) | 26.1% | 26.8% | 3.1% |
| P/E Multiple | 30.8 | 29.0 | -5.9% |
| Shares Outstanding (Mil) | 194 | 194 | 0.0% |
| Cumulative Contribution | -1.9% |
Market Drivers
5/31/2026 to 9/12/2026| Return | Correlation | |
|---|---|---|
| ELS | -1.9% | |
| Market (SPY) | 1.0% | -29.4% |
| Sector (XLRE) | -1.3% | 69.9% |
Fundamental Drivers
The -9.0% change in ELS stock from 2/28/2026 to 9/12/2026 was primarily driven by a -12.4% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 66.01 | 60.08 | -9.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,467 | 1,497 | 2.0% |
| Net Income Margin (%) | 26.4% | 26.8% | 1.9% |
| P/E Multiple | 33.1 | 29.0 | -12.4% |
| Shares Outstanding (Mil) | 194 | 194 | -0.1% |
| Cumulative Contribution | -9.0% |
Market Drivers
2/28/2026 to 9/12/2026| Return | Correlation | |
|---|---|---|
| ELS | -9.0% | |
| Market (SPY) | 11.7% | -12.1% |
| Sector (XLRE) | -0.3% | 66.2% |
Fundamental Drivers
The 3.1% change in ELS stock from 8/31/2025 to 9/12/2026 was primarily driven by a 5.7% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 58.26 | 60.08 | 3.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,448 | 1,497 | 3.4% |
| Net Income Margin (%) | 25.4% | 26.8% | 5.7% |
| P/E Multiple | 30.3 | 29.0 | -4.3% |
| Shares Outstanding (Mil) | 191 | 194 | -1.4% |
| Cumulative Contribution | 3.1% |
Market Drivers
8/31/2025 to 9/12/2026| Return | Correlation | |
|---|---|---|
| ELS | 3.1% | |
| Market (SPY) | 19.5% | -13.2% |
| Sector (XLRE) | 5.2% | 59.2% |
Fundamental Drivers
The -1.6% change in ELS stock from 8/31/2023 to 9/12/2026 was primarily driven by a -27.2% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.04 | 60.08 | -1.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,371 | 1,497 | 9.2% |
| Net Income Margin (%) | 20.8% | 26.8% | 28.9% |
| P/E Multiple | 39.8 | 29.0 | -27.2% |
| Shares Outstanding (Mil) | 186 | 194 | -4.0% |
| Cumulative Contribution | -1.6% |
Market Drivers
8/31/2023 to 9/12/2026| Return | Correlation | |
|---|---|---|
| ELS | -1.6% | |
| Market (SPY) | 75.7% | 12.0% |
| Sector (XLRE) | 28.8% | 65.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ELS Return | 41% | -25% | 12% | -3% | -6% | 1% | 11% |
| Peers Return | 66% | -34% | -2% | 12% | -2% | -2% | 16% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| ELS Win Rate | 75% | 42% | 50% | 42% | 42% | 56% | |
| Peers Win Rate | 67% | 29% | 46% | 54% | 42% | 39% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| ELS Max Drawdown | -11% | -33% | -16% | -15% | -14% | -11% | |
| Peers Max Drawdown | -12% | -43% | -31% | -15% | -19% | -14% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SUI, UMH. 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] 2026 data is for the year up to 9/11/2026 (YTD)
How Low Can It Go
| Event | ELS | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.4% | -9.5% |
| % Gain to Breakeven | 15.5% | 10.5% |
| Time to Breakeven | 59 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.7% | -6.7% |
| % Gain to Breakeven | 15.9% | 7.1% |
| Time to Breakeven | 120 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.9% | -33.7% |
| % Gain to Breakeven | 66.4% | 50.9% |
| Time to Breakeven | 443 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -14.7% | -3.7% |
| % Gain to Breakeven | 17.3% | 3.9% |
| Time to Breakeven | 98 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -16.8% | -0.2% |
| % Gain to Breakeven | 20.2% | 0.2% |
| Time to Breakeven | 131 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -17.3% | -17.9% |
| % Gain to Breakeven | 20.9% | 21.8% |
| Time to Breakeven | 23 days | 123 days |
In The Past
Equity Lifestyle Properties's stock fell -4.5% during the 2025 US Tariff Shock. Such a loss loss requires a 4.7% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | ELS | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -39.9% | -33.7% |
| % Gain to Breakeven | 66.4% | 50.9% |
| Time to Breakeven | 443 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -49.2% | -53.4% |
| % Gain to Breakeven | 96.9% | 114.4% |
| Time to Breakeven | 306 days | 1085 days |
In The Past
Equity Lifestyle Properties's stock fell -4.5% during the 2025 US Tariff Shock. Such a loss loss requires a 4.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Equity Lifestyle Properties (ELS)
Equity Lifestyle Properties (ELS) is a self-managed, self-administered real estate investment trust (REIT) based in Chicago. The company specializes in the ownership and operation of a large portfolio of properties, primarily consisting of manufactured home communities and recreational vehicle (RV) resorts. As of early 2021, ELS held interests in 423 properties across 33 U.S. states and British Columbia, encompassing over 161,000 individual sites.
The core business of ELS revolves around providing high-quality leasehold sites for both manufactured homes and recreational vehicles. For manufactured home residents, ELS offers the opportunity to own their homes while leasing the underlying land, often within professionally managed communities featuring various amenities. For RV owners, the company operates destination resorts that cater to a range of stays, from short-term vacations to seasonal and annual occupancy, complete with services and recreational facilities.
Equity Lifestyle Properties serves a diverse customer base. Its primary customers include individuals and families seeking affordable homeownership solutions through manufactured homes, often in well-maintained, amenity-rich communities. Additionally, ELS caters to recreational vehicle enthusiasts and vacationers looking for premium sites and resort experiences, whether for a weekend getaway or an extended seasonal stay in popular leisure destinations.
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The Public Storage of RV resorts and manufactured home communities.
The Equity Residential of manufactured home communities and RV parks.
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- Manufactured Home Community Site Leasing: Providing long-term leases for land sites where residents place their manufactured homes.
- RV Resort and Campground Site Rentals: Offering rental spaces for recreational vehicles and campers, often accompanied by resort-style amenities.
- Marina Slip Rentals: Leasing boat slips and storage for various watercraft in waterfront properties.
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Equity Lifestyle Properties (ELS) sells primarily to individuals rather than other companies. Based on its business as a real estate investment trust (REIT) that owns and operates properties with a large number of sites, its major customer categories are:
- Residents of Manufactured Home Communities: Individuals who own or rent manufactured homes and lease the land sites from ELS on a long-term basis.
- Guests at RV Resorts: Individuals who bring their recreational vehicles (RVs) and lease sites for short-term stays, seasonal use, or extended vacations.
- Boaters at Marinas: Individuals who dock their boats and lease slips or moorings at ELS-owned marinas.
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Marguerite Nader, Chief Executive Officer & Non-Independent Vice Chairman
Marguerite Nader joined Equity LifeStyle Properties in 1993, serving in various departments including asset management, sales and marketing, finance, and acquisitions. She assumed the role of Chief Executive Officer in February 2013 and also became Non-Independent Vice Chairman, effective April 29, 2025. Prior to her tenure at ELS, Ms. Nader worked as a Financial Analyst for Equity Group Investments, a private investment firm founded by Sam Zell, focusing on his private office building portfolio before it became Equity Office Properties Trust. She has served on the boards of Ventas, Inc. and the National Association of Real Estate Investment Trusts, Inc. (Nareit), and previously on the Board of Directors of Liberty Property Trust before its acquisition in 2020.
Paul Seavey, Executive Vice President and Chief Financial Officer
Paul Seavey has served as Chief Financial Officer of Equity LifeStyle Properties since October 2012 and as Executive Vice President since January 2014. He also holds the titles of Principal Accounting Officer and Treasurer.
Patrick Waite, President & COO
Patrick Waite has been the Chief Operating Officer and Executive Vice President of Equity LifeStyle Properties since January 2015, and was promoted to President, effective April 29, 2025. He initially joined ELS in 1993 as Director of Acquisitions. Mr. Waite co-founded Continental Communities, a private operator of manufactured home communities, where he managed its acquisition program from 1997 to 2001. His experience also includes serving as Vice President of Riverside Communities, an affiliate of Helix Funds LLC, from August 2004 to January 2010, and as Senior Vice President of Asset Management at American Residential Communities, a private operator of manufactured housing communities, from January 2010 through January 2013. He possesses over 20 years of extensive experience in the manufactured housing industry.
David Eldersveld, Executive Vice President, Chief Legal Officer and Corporate Secretary
David Eldersveld serves as Executive Vice President, Chief Legal Officer and Corporate Secretary for Equity LifeStyle Properties. He is also referred to as EVP & General Counsel.
Michael Bailey, Senior Vice President of Investments
Michael Bailey holds the position of Senior Vice President of Investments at Equity LifeStyle Properties.
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The key risks to Equity Lifestyle Properties (ELS) largely stem from its real estate-centric business model and specific market exposures:
- Regulatory Limits on Rent Growth and Localized Rent Control: A significant risk for Equity Lifestyle Properties is the potential for regulatory limits on manufactured home site rent growth, including the implementation of localized rent control measures. These regulations directly impact ELS's primary revenue stream from long-term ground leases, which could adversely affect its financial performance and profitability.
- Economic and Market Risks: The company's performance and valuation are sensitive to broader economic fluctuations. This includes interest-rate sensitivity, which can affect REIT valuations and increase borrowing costs given ELS's substantial indebtedness. Economic downturns can also reduce demand for its properties, while cyclicality in transient RV demand can impact cash flows. Furthermore, the stock has faced valuation concerns due to its high price-to-earnings ratio, leading to skepticism about the sustainability of current multiples.
- Climate and Insurance Cost Increases: Equity Lifestyle Properties operates a significant portion of its portfolio in coastal and Sunbelt markets, such as Florida, which makes it vulnerable to risks associated with climate change and natural disasters. These events can lead to property damage, increased insurance costs, and potential disruptions in operations, materially impacting ELS's financial performance.
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Equity Lifestyle Properties (ELS) primarily operates in three main addressable markets in North America: manufactured home communities, RV resorts and campgrounds, and marinas.
- Manufactured Home Communities: The U.S. manufactured homes market was valued at approximately USD 14.6 billion in 2026.
- RV Resorts and Campgrounds: The U.S. RV park and campground industry is valued at nearly USD 10.9 billion in 2025.
- Marinas: The market size of marinas in the U.S. is approximately USD 7.2 billion in 2025 and 2026. North America's marina market, including the U.S. and Canada, is estimated to have revenues of approximately USD 6.5 billion to USD 7.0 billion in 2026.
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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:
- Rent Increases in Manufactured Housing (MH) and RV/Marina Annuals: The company consistently projects growth through increased rental rates. For the full year 2026, ELS anticipates core Manufactured Housing (MH) rent growth to be in the range of 5.1% to 6.1%, and combined RV and marina rent growth is projected between 2.4% and 3.4%. This follows a 5.5% increase in core community-based rental income for the full year 2025 compared to 2024, primarily due to noticed increases for renewing residents and market rents for new residents.
- Occupancy Gains and Strategic Site Expansion: Equity Lifestyle Properties aims to increase occupancy within its existing portfolio and expand its footprint. In 2024, the company added 379 homeowners sites, and the RV portfolio demonstrated strong annual occupancy increases. Although transaction activity was constrained in late 2025, ELS has strategically expanded its portfolio by adding manufactured home and recreational vehicle sites over the past five years, focusing on robust markets such as Florida, California, and Arizona. Demographic tailwinds, particularly from baby boomers, are also expected to fuel long-term demand for MH and RV properties.
- Growth in the Membership Business: The company's membership programs, notably the Thousand Trails camping pass memberships and upgrades, contribute significantly to revenue. The net contribution from the total membership business reached $65.6 million for the full year 2025.
- Increased Utility and Other Income: ELS has also seen growth in its utility and other income streams. Core utility and other income increased by 3.4% for the full year 2025 compared to the prior year, with the utility recovery rate rising to 48.7%.
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Share Repurchases
- Equity LifeStyle Properties' Board of Directors periodically reviews conditions for stock repurchases, considering factors such as market price, balance sheet flexibility, other opportunities, and capital requirements.
- In the year ended December 31, 2025, the company reported repurchases of Common Stock or Common OP Units amounting to $(2.3) million.
Share Issuance
- Equity LifeStyle Properties sold 328,123 shares of common stock through an At-The-Market (ATM) equity offering program during the year ended December 31, 2022.
- On February 24, 2022, the company initiated a new ATM equity offering program with an aggregate offering price of up to $500.0 million, which remained fully available as of December 31, 2022.
- As of September 30, 2025, the issuance of common stock through an employee stock purchase plan totaled $391 thousand. The number of common stock shares issued and outstanding increased from 191,056,527 as of December 31, 2024, to 193,825,482 as of September 30, 2025.
Outbound Investments
- Equity LifeStyle Properties' strategy includes acquiring and expanding properties in retirement, vacation, and urban markets, along with adding sites on existing land.
- The company has a strong commitment to acquire additional investment-grade manufactured housing communities and RV resorts, leveraging its access to capital and financial sophistication.
- Acquisitions can be financed through various sources, including undistributed Funds from Operations (FFO), the issuance of additional equity securities (including via its ATM program), sales of investments, and collateralized and uncollateralized borrowings.
- The company added 362 expansion sites during the year ended December 31, 2025.
Capital Expenditures
- The company consistently invests in the upkeep and expansion of its communities to fortify its market position and enhance resident satisfaction.
- Changes in federal, state, and local legislation and regulation may necessitate increased capital expenditures at Equity LifeStyle Properties' sites.
Peer Outperformance in Single-Family Residential REITs
nullShare of Single-Family Residential REITs constituents that ELS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 4 industry peers · 1.1% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
null
Median price return by industry across the Real Estate sector, ranked by 5Y. Single-Family Residential REITs is ELS's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 14 | 17.5% | 62.4% | 65.7% | WELL 201% · DHC 133% · CTRE 125% |
| Retail REITs | 22 | 9.6% | 36.3% | 35.9% | IVT 1559% · SKT 159% · SPG 104% |
| Other Specialized REITs | 11 | 5.0% | 19.9% | 17.0% | IRM 197% · LAMR 72% · EPR 71% |
| Real Estate Development | 6 | -15.3% | 17.9% | 15.7% | JOE 57% · AXR 46% · FOR 32% |
| Hotel & Resort REITs | 16 | 26.0% | 30.0% | 5.1% | RHP 76% · HST 69% · DRH 52% |
| Industrial REITs | 11 | 13.9% | 18.2% | 4.4% | EGP 32% · FR 30% · PLD 18% |
| Diversified REITs | 12 | 7.7% | 26.9% | -6.1% | CTO 72% · WPC 23% · LXP 15% |
| Multi-Family Residential REITs | 13 | -5.1% | 5.7% | -18.5% | AIV 15% · ESS 1% · VMRK -3% |
| Single-Family Residential REITs ← | 4 | -4.8% | -1.7% | -18.8% | AMH -12% · ELS -17% · INVH -20% |
| Real Estate Services | 24 | -21.4% | -5.0% | -27.8% | REAX 956% · CHCI 301% · MLP 51% |
| Office REITs | 18 | -13.3% | 19.0% | -28.8% | PSTL 68% · CDP 61% · SLG 8% |
| Telecom Tower REITs | 3 | -5.3% | -7.0% | -42.8% | AMT -29% · SBAC -43% · CCI -49% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.08 |
| Mkt Cap | 11.6 |
| Rev LTM | 1,497 |
| Op Inc LTM | 412 |
| FCF LTM | 347 |
| FCF 3Y Avg | 345 |
| CFO LTM | 589 |
| CFO 3Y Avg | 597 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.4% |
| Rev Chg 3Y Avg | 3.0% |
| Rev Chg Q | 4.8% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 6.5% |
| Op Inc Chg 3Y Avg | 11.7% |
| Op Mgn LTM | 19.0% |
| Op Mgn 3Y Avg | 20.7% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 39.3% |
| CFO/Rev 3Y Avg | 40.8% |
| FCF/Rev LTM | 33.3% |
| FCF/Rev 3Y Avg | 37.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 11.6 |
| P/S | 6.5 |
| P/Op Inc | 26.1 |
| P/EBIT | 21.3 |
| P/E | 29.0 |
| P/CFO | 15.6 |
| Total Yield | 7.0% |
| Dividend Yield | 3.9% |
| FCF Yield 3Y Avg | 5.7% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Property Operations | 1,456 | 1,422 | 1,362 | 1,291 | 1,193 |
| Home Sales and Rentals Operations | 57 | 86 | 110 | 140 | 119 |
| Interest income | 10 | 9 | 9 | 7 | |
| Income from other investments, net | 9 | 8 | 9 | 9 | 5 |
| Corporate interest income | 0 | ||||
| Total | 1,531 | 1,526 | 1,489 | 1,447 | 1,316 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Property Operations | 486 | 442 | 420 | 385 | 367 |
| Home Sales and Rentals Operations | 7 | 8 | 3 | -5 | -5 |
| General and administrative | -45 | -39 | |||
| Total | 493 | 406 | 423 | 341 | 362 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Property Operations | 5,466 | 5,403 | 5,342 | 5,229 | 5,057 |
| Home Sales and Rentals Operations | 279 | 243 | 271 | 264 | 251 |
| Total | 5,745 | 5,646 | 5,614 | 5,493 | 5,308 |
Price Behavior
Price Behavior
| Market Price | $60.08 | |
| Market Cap ($ Bil) | 11.6 | |
| First Trading Date | 02/25/1993 | |
| Distance from 52W High | -11.2% | |
| 50 Days | 200 Days | |
| DMA Price | $64.50 | $63.14 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -6.8% | -4.8% |
| 3M | 1YR | |
| Volatility | 20.2% | 17.7% |
| Downside Capture | -25.27 | -27.19 |
| Upside Capture | -54.48 | -20.65 |
| Correlation (SPY) | -25.2% | -14.2% |
ELS Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.25 | -0.71 | -0.52 | -0.18 | -0.19 | 0.15 |
| Up Beta | -0.18 | -0.77 | -0.42 | -0.14 | -0.16 | 0.24 |
| Down Beta | 0.55 | -1.21 | -0.41 | -0.01 | -0.06 | 0.13 |
| Up Capture | 17% | -54% | -42% | -20% | -10% | 2% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 8 | 18 | 31 | 56 | 126 | 382 |
| Down Capture | 98% | -56% | -84% | -31% | -53% | 24% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 13 | 24 | 33 | 71 | 123 | 365 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELS | |
|---|---|---|---|---|
| ELS | 3.0% | 17.7% | 0.01 | - |
| Sector ETF (XLRE) | 6.4% | 14.0% | 0.20 | 59.5% |
| Equity (SPY) | 18.3% | 12.8% | 1.03 | -13.6% |
| Gold (GLD) | 19.0% | 29.2% | 0.59 | -0.5% |
| Commodities (DBC) | 48.3% | 20.6% | 1.80 | -9.0% |
| Real Estate (VNQ) | 7.6% | 13.6% | 0.29 | 59.8% |
| Bitcoin (BTCUSD) | -32.4% | 43.8% | -0.77 | -13.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELS | |
|---|---|---|---|---|
| ELS | -4.8% | 22.1% | -0.28 | - |
| Sector ETF (XLRE) | 0.9% | 19.2% | -0.06 | 73.1% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 35.3% |
| Gold (GLD) | 18.7% | 18.8% | 0.81 | 10.9% |
| Commodities (DBC) | 11.4% | 19.5% | 0.46 | 3.5% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 73.9% |
| Bitcoin (BTCUSD) | 9.4% | 52.6% | 0.36 | 12.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELS | |
|---|---|---|---|---|
| ELS | 7.1% | 24.1% | 0.29 | - |
| Sector ETF (XLRE) | 6.1% | 20.4% | 0.25 | 76.3% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 46.5% |
| Gold (GLD) | 12.3% | 16.3% | 0.62 | 13.2% |
| Commodities (DBC) | 8.7% | 18.1% | 0.39 | 11.7% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 77.6% |
| Bitcoin (BTCUSD) | 63.2% | 66.2% | 1.03 | 10.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/25/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/23/2026 | 0.8% | 3.3% | -0.1% |
| 4/22/2026 | -3.4% | -3.7% | -3.1% |
| 1/29/2026 | 1.4% | 5.9% | 8.5% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 12 |
| # Negative | 11 | 11 | 9 |
| Median Positive | 1.3% | 2.9% | 3.7% |
| Median Negative | -1.5% | -2.4% | -2.9% |
| Max Positive | 4.3% | 6.5% | 8.5% |
| Max Negative | -3.9% | -6.7% | -7.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/23/2026 | 0.8% | 3.3% | -0.1% |
| 4/22/2026 | -3.4% | -3.7% | -3.1% |
| 1/29/2026 | 1.4% | 5.9% | 8.5% |
| 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% |
| 1/30/2024 | 1.5% | 0.2% | -1.3% |
| 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% |
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 12 |
| # Negative | 11 | 11 | 9 |
| Median Positive | 1.3% | 2.9% | 3.7% |
| Median Negative | -1.5% | -2.4% | -2.9% |
| Max Positive | 4.3% | 6.5% | 8.5% |
| Max Negative | -3.9% | -6.7% | -7.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 04/25/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 10/21/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 04/25/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 10/21/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 10/26/2021 | 10-Q |
| 06/30/2021 | 07/27/2021 | 10-Q |
| 03/31/2021 | 04/27/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 10/27/2020 | 10-Q |
| 06/30/2020 | 07/28/2020 | 10-Q |
| 03/31/2020 | 04/28/2020 | 10-Q |
| 12/31/2019 | 02/24/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
Recent Forward Guidance
Updated 7/24/2026Latest: Q2 2026 Earnings Reported 7/23/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 FFO per Common Share and OP Unit | Reported | 0.76 | 0.79 | 0.82 | 9.7% | Higher New | Guidance: 0.72 for Q2 2026 | |
| Q3 2026 Normalized FFO per Common Share and OP Unit | Reported | 0.76 | 0.79 | 0.82 | 9.7% | Higher New | Guidance: 0.72 for Q2 2026 | |
| Q3 2026 Net Income per Common Share | Reported | 0.48 | 0.51 | 0.54 | 13.3% | Higher New | Guidance: 0.45 for Q2 2026 | |
| 2026 FFO per Common Share and OP Unit | Reported | 3.15 | 3.2 | 3.25 | 1.3% | Raised | Guidance: 3.16 for 2026 | |
| 2026 Normalized FFO per Common Share and OP Unit | Reported | 3.13 | 3.18 | 3.23 | 0.3% | Raised | Guidance: 3.17 for 2026 | |
| 2026 Net Income per Common Share | Reported | 2.05 | 2.1 | 2.15 | 1.4% | Raised | Guidance: 2.07 for 2026 | |
Prior: Q1 2026 Earnings Reported 4/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 FFO per Common Share and OP Unit | Reported | 0.69 | 0.72 | 0.75 | ||||
| Q2 2026 Normalized FFO per Common Share and OP Unit | Reported | 0.69 | 0.72 | 0.75 | ||||
| Q2 2026 MH base rental income growth | Reported | 5.3% | 5.6% | 5.9% | ||||
| Q2 2026 RV and marina base rental income growth | Reported | 1.7% | 2.0% | 2.3% | ||||
| Q2 2026 Income from property operations growth | Reported | 4.9% | 5.2% | 5.5% | ||||
| Q2 2026 Property operating revenues growth | Reported | 4.5% | 4.8% | 5.1% | ||||
| Q2 2026 Property operating expenses growth | Reported | 3.9% | 4.2% | 4.5% | ||||
| Q2 2026 Net Income per Common Share | Reported | 0.42 | 0.45 | 0.48 | ||||
| 2026 FFO per Common Share and OP Unit | Reported | 3.11 | 3.16 | 3.21 | -0.3% | Lowered | Guidance: 3.17 for 2026 | |
| 2026 Normalized FFO per Common Share and OP Unit | Reported | 3.12 | 3.17 | 3.22 | 0.0% | Affirmed | Guidance: 3.17 for 2026 | |
| 2026 MH base rental income growth | Reported | 5.1% | 5.6% | 6.1% | ||||
| 2026 RV and marina base rental income growth | Reported | 1.9% | 2.4% | 2.9% | ||||
| 2026 Income from property operations growth | Reported | 5.2% | 5.7% | 6.2% | ||||
| 2026 Non-Core Income from property operations | Reported | 5.70 Mil | 7.70 Mil | 9.70 Mil | ||||
| 2026 Property management and general administrative | Reported | 119.00 Mil | 122.00 Mil | 125.00 Mil | ||||
| 2026 Property operating revenues growth | Reported | 4.0% | 4.5% | 5.0% | ||||
| 2026 Property operating expenses growth | Reported | 2.2% | 2.7% | 3.2% | ||||
| 2026 Interest and related amortization | Reported | 133.90 Mil | 136.90 Mil | 139.90 Mil | ||||
| 2026 Net Income per Common Share | Reported | 2.02 | 2.07 | 2.12 | -1.9% | Lowered | Guidance: 2.11 for 2026 | |
Q4 2025 Earnings Reported 1/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 FFO per Common Share and OP Unit | Reported | 0.81 | 0.84 | 0.87 | ||||
| Q1 2026 Normalized FFO per Common Share and OP Unit | Reported | 0.81 | 0.84 | 0.87 | ||||
| Q1 2026 Net Income per Common Share | Reported | 0.54 | 0.57 | 0.6 | ||||
| 2026 FFO per Common Share and OP Unit | Reported | 3.12 | 3.17 | 3.22 | ||||
| 2026 Normalized FFO per Common Share and OP Unit | Reported | 3.12 | 3.17 | 3.22 | ||||
| 2026 Net Income per Common Share | Reported | 2.06 | 2.11 | 2.16 | ||||
Insider Activity
Updated 8/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Contis, David J | Contis Family Trust | Sell | 3202026 | 67.22 | 3,000 | 201,660 | 1,000,904 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Contis, David J | Contis Family Trust | Sell | 3202026 | 67.22 | 3,000 | 201,660 | 1,000,904 | Form |
Investor Activity (13F)
Updated Sep 13, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Seven Post Investment Office LP | $12.3 Mil | 4.0% | 36 | Hold | 13F |
| Chai Trust Co LLC | $32.7 Mil | 2.8% | 12 | Hold | 13F |
| Sophron Capital Management L.P. | $9.0 Mil | 2.7% | 41 | ADD +8.3% | 13F |
| B&I Capital AG | $7.8 Mil | 2.6% | 24 | ADD +8.3% | 13F |
| Resolution Capital Ltd | $117.7 Mil | 2.5% | 40 | Hold | 13F |
| Adelante Capital Management LLC | $34.5 Mil | 2.4% | 42 | Hold | 13F |
| Lasalle Investment Management Securities LLC | $46.1 Mil | 1.8% | 48 | Hold | 13F |
| Vert Asset Management LLC | $5.7 Mil | 1.8% | 48 | Hold | 13F |
| Active Manager |
|---|
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Resolution Capital Ltd | $117.7 Mil | 2.5% | 40 | Hold | 13F |
| Lasalle Investment Management Securities LLC | $46.1 Mil | 1.8% | 48 | Hold | 13F |
| Adelante Capital Management LLC | $34.5 Mil | 2.4% | 42 | Hold | 13F |
| Chai Trust Co LLC | $32.7 Mil | 2.8% | 12 | Hold | 13F |
| Seven Post Investment Office LP | $12.3 Mil | 4.0% | 36 | Hold | 13F |
| Sophron Capital Management L.P. | $9.0 Mil | 2.7% | 41 | ADD +8.3% | 13F |
| B&I Capital AG | $7.8 Mil | 2.6% | 24 | ADD +8.3% | 13F |
| Vert Asset Management LLC | $5.7 Mil | 1.8% | 48 | Hold | 13F |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Single-Family Residential REITs Resources |
| National Rental Home Council |
| HousingWire |
| BiggerPockets |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 9/12/2026