Equity Lifestyle (ELS) AI Stock Analysis

• Market Cap: $12.39B
• Dividend Yield: 3.28%
• Average Volume (3M): 1.54M
• Price to Earnings (P/E): 32.3
• Beta (1Y): -0.03
• Revenue Growth: 0.61%
• EPS Growth: 2.42%
• Country: US
• Employees: 3,800
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Residential
• EPS (TTM): 0.50
• Shares Outstanding: 193,828,480
• 10 Day Avg. Volume: 1,533,486
• 30 Day Avg. Volume: 1,544,520
• PEG Ratio: 2.13
• Price to Book (P/B): 7.17
• Price to Sales (P/S): 8.71
• P/FCF Ratio: 35.12
• Enterprise Value/Market Cap: 1.25
• Enterprise Value/Revenue: 10.63
• Enterprise Value/Gross Profit: 20.92
• Enterprise Value/Ebitda: 20.94
• 1Y Price Target: $68.13
• Price Target Upside: 8.99% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 1.96
• Revenue Forecast (FY): $1.53B

• Rating: 70 Outperform
• Price Target: $66.00 ▲(5.58% Upside)

Equity Lifestyle's strong financial performance and positive earnings call guidance are significant strengths, supporting a solid growth trajectory. However, the high P/E ratio and bearish technical indicators suggest caution. The company's commitment to dividends adds a positive aspect for income investors.

Positive Factors

Revenue Growth

Consistent revenue growth and improving profit margins indicate a strong market position and effective cost management, supporting long-term business sustainability.

Cash Generation

Strong cash generation enhances financial flexibility, allowing for reinvestment in growth opportunities and providing a buffer against economic downturns.

Occupancy and Expansion

High occupancy rates and strategic expansions in key markets like Florida strengthen the company's competitive position and growth potential.

Negative Factors

High Debt Levels

High leverage poses a risk, especially if interest rates rise, potentially impacting financial stability and limiting investment capacity.

Seasonal Revenue Decline

Declining seasonal and transient revenues could indicate vulnerabilities in the business model, affecting overall revenue stability and growth.

Canadian Customer Reservations

A significant drop in Canadian customer reservations could lead to prolonged revenue challenges, especially in markets reliant on cross-border visitors.

Equity Lifestyle Business Overview & Revenue Model

Company Description

Equity Lifestyle Properties, Inc. (ELS) is a leading owner and operator of lifestyle-oriented properties, primarily focusing on manufactured home communities, RV resorts, and campgrounds across the United States and Canada. The company aims to provide quality housing options and recreational experiences for its residents and guests, offering a range of amenities and services that enhance the lifestyle of its communities. ELS operates in the real estate investment trust (REIT) sector, allowing it to capitalize on the growing demand for affordable housing and leisure accommodations.

How the Company Makes Money

Equity Lifestyle Properties generates revenue primarily through rental income from its vast portfolio of manufactured home sites and RV sites. The company leases land to manufactured home owners and RV owners, charging monthly lot rents, which form the core of its revenue stream. In addition to lot rents, ELS earns income from various ancillary services and amenities offered at its properties, such as utility services, recreational facilities, and retail operations within its communities. The company's revenue model is further supported by its strategic acquisitions of additional properties, which expand its footprint and enhance its earnings potential. Significant partnerships with leisure and tourism organizations also contribute to revenue, as ELS attracts seasonal guests and long-term residents seeking quality lifestyle experiences.

Equity Lifestyle Financial Statement Overview

Summary

Equity Lifestyle exhibits strong financial health with robust revenue and profit growth, supported by effective cash flow management. The high debt-to-equity ratio is a concern, but the company's ability to generate cash and maintain profitability mitigates some of the associated risks.

Income Statement

Equity Lifestyle has demonstrated strong revenue growth with a consistent increase in gross profit margins, reaching 54.04% in the TTM period. The net profit margin has also improved to 25.90%, indicating robust profitability. However, the EBIT margin has slightly decreased from the previous year, suggesting some operational cost pressures.

Balance Sheet

The company maintains a high debt-to-equity ratio of 1.88, which is typical for the REIT industry but poses a risk if interest rates rise. Return on equity is strong at 21.91%, reflecting efficient use of equity capital. The equity ratio is moderate, indicating a balanced approach to financing.

Cash Flow

Free cash flow has grown significantly by 45.76% in the TTM period, showcasing strong cash generation capabilities. The operating cash flow to net income ratio is healthy at 2.57, indicating good cash conversion. However, the free cash flow to net income ratio of 0.89 suggests room for improvement in translating profits into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.45B	1.43B	1.40B	1.37B	1.25B	1.11B
Gross Profit	739.38M	708.01M	672.53M	644.56M	596.28M	569.54M
EBITDA	738.79M	731.57M	660.63M	622.44M	576.15M	496.55M
Net Income	382.02M	367.01M	314.21M	284.63M	262.48M	228.28M
Balance Sheet
Total Assets	5.75B	5.65B	5.61B	5.49B	5.31B	4.42B
Cash, Cash Equivalents and Short-Term Investments	13.19M	5.58M	4.24M	2.65M	94.10M	24.06M
Total Debt	3.28B	3.20B	3.52B	3.39B	3.27B	2.67B
Total Liabilities	3.94B	3.82B	4.12B	3.98B	3.82B	3.11B
Stockholders Equity	1.75B	1.74B	1.43B	1.45B	1.42B	1.23B
Cash Flow
Free Cash Flow	511.35M	355.44M	230.92M	226.54M	304.76M	249.46M
Operating Cash Flow	577.00M	596.72M	548.00M	475.81M	509.03M	417.41M
Investing Cash Flow	-289.65M	-217.84M	-324.75M	-402.07M	-828.43M	-401.25M
Financing Cash Flow	-288.46M	-384.24M	-215.66M	-174.80M	418.74M	-20.96M

Equity Lifestyle Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 62.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELS, the sentiment is Positive. The current price of 62.51 is above the 20-day moving average (MA) of 62.04, above the 50-day MA of 61.93, and above the 200-day MA of 62.00, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 54.54 is Neutral, neither overbought nor oversold. The STOCH value of 77.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ELS.

Equity Lifestyle Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CPT	73 Outperform	$14.87B	42.63	5.79%	3.90%	1.41%	-21.93%
MAA	71 Outperform	$16.00B	28.22	9.41%	4.42%	0.91%	6.55%
ELS	70 Outperform	$12.39B	32.29	24.00%	3.28%	0.61%	2.42%
AMH	70 Outperform	$11.65B	26.64	6.36%	3.75%	7.63%	23.16%
SUI	70 Neutral	$15.24B	15.43	-5.55%	6.34%	-20.69%	330.60%
INVH	69 Neutral	$16.45B	51.63	5.99%	4.31%	6.82%	27.91%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Equity Lifestyle Corporate Events

Equity Lifestyle Declares Fourth Quarter Dividend

On October 28, 2025, Equity LifeStyle Properties, Inc. announced a fourth quarter dividend of $0.515 per common share, amounting to an annualized dividend of $2.06 per share. The dividend is scheduled for payment on January 9, 2026, to shareholders recorded by December 26, 2025, reflecting the company’s commitment to returning value to its investors.