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ELS

Equity LifeStyle PropertiesNYSE:ELS Stock Report

Last Price

US$77.13

Market Cap

US$14.9b

7D

-4.8%

1Y

24.6%

Updated

20 Jan, 2022

Data

Company Financials +
ELS fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance4/6
Financial Health1/6
Dividends4/6

ELS Stock Overview

We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago.

Equity LifeStyle Properties Competitors

Equity Residential

NYSE:EQR

US$34.3b

AvalonBay Communities

NYSE:AVB

US$34.0b

Invitation Homes

NYSE:INVH

US$25.1b

Mid-America Apartment Communities

NYSE:MAA

US$24.2b

Price History & Performance

Summary of all time highs, changes and price drops for Equity LifeStyle Properties
Historical stock prices
Current Share PriceUS$77.13
52 Week HighUS$88.70
52 Week LowUS$58.27
Beta0.60
1 Month Change-8.15%
3 Month Change-10.43%
1 Year Change24.60%
3 Year Change52.67%
5 Year Change108.54%
Change since IPO2,103.71%

Recent News & Updates

Jan 02

Equity LifeStyle Properties: On My Watchlist But Not A 'Buy' Today

ELS is a blue-chip REIT in the manufactured housing and RV park space, boasting 17 consecutive years of strong dividend growth. Investors have continuously shown a willingness to bid up the valuation multiples of ELS further and further into the stratosphere. ELS exhibits impressive growth both organically and (more recently) externally through portfolio expansion. Astonishingly, the REIT's share count has barely risen at all in the last decade. Despite being a solid business, it's hard to pull the trigger on a 35x FFO multiple.

Sep 27

Keep An Eye On Equity LifeStyle Properties

Equity LifeStyle Properties is one of the strongest REITs on the market, thanks to its business model and excellent management. The company has a healthy balance sheet and the opportunity to benefit from the need for affordable housing - and an aging population. Unfortunately, the company is trading at a lofty valuation, which means investors need to decide if they want to wait or jump in at current prices.

Shareholder Returns

ELSUS REITsUS Market
7D-4.8%-3.2%-4.6%
1Y24.6%25.7%7.7%

Return vs Industry: ELS underperformed the US REITs industry which returned 25.7% over the past year.

Return vs Market: ELS exceeded the US Market which returned 7.7% over the past year.

Price Volatility

Is ELS's price volatile compared to industry and market?
ELS volatility
ELS Average Weekly Movement2.9%
REITs Industry Average Movement4.0%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: ELS is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: ELS's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19924,000Marguerite Naderhttps://www.equitylifestyleproperties.com

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.

Equity LifeStyle Properties Fundamentals Summary

How do Equity LifeStyle Properties's earnings and revenue compare to its market cap?
ELS fundamental statistics
Market CapUS$14.88b
Earnings (TTM)US$261.56m
Revenue (TTM)US$1.22b

56.9x

P/E Ratio

12.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ELS income statement (TTM)
RevenueUS$1.22b
Cost of RevenueUS$596.11m
Gross ProfitUS$628.10m
ExpensesUS$366.53m
EarningsUS$261.56m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Jan 25, 2022

Earnings per share (EPS)1.36
Gross Margin51.31%
Net Profit Margin21.37%
Debt/Equity Ratio238.6%

How did ELS perform over the long term?

See historical performance and comparison

Dividends

1.9%

Current Dividend Yield

55%

Payout Ratio

Valuation

Is Equity LifeStyle Properties undervalued compared to its fair value and its price relative to the market?

56.87x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ELS ($77.13) is trading above our estimate of fair value ($74.17)

Significantly Below Fair Value: ELS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ELS is poor value based on its PE Ratio (56.9x) compared to the US REITs industry average (45.5x).

PE vs Market: ELS is poor value based on its PE Ratio (56.9x) compared to the US market (16.9x).


Price to Earnings Growth Ratio

PEG Ratio: ELS is poor value based on its PEG Ratio (5x)


Price to Book Ratio

PB vs Industry: ELS is overvalued based on its PB Ratio (11.9x) compared to the US REITs industry average (2x).


Future Growth

How is Equity LifeStyle Properties forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

11.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ELS's forecast earnings growth (11.3% per year) is above the savings rate (2%).

Earnings vs Market: ELS's earnings (11.3% per year) are forecast to grow slower than the US market (13.1% per year).

High Growth Earnings: ELS's earnings are forecast to grow, but not significantly.

Revenue vs Market: ELS's revenue (7% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: ELS's revenue (7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ELS's Return on Equity is forecast to be high in 3 years time (25.1%)


Past Performance

How has Equity LifeStyle Properties performed over the past 5 years?

8.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ELS has high quality earnings.

Growing Profit Margin: ELS's current net profit margins (21.4%) are higher than last year (20.2%).


Past Earnings Growth Analysis

Earnings Trend: ELS's earnings have grown by 8.4% per year over the past 5 years.

Accelerating Growth: ELS's earnings growth over the past year (19.7%) exceeds its 5-year average (8.4% per year).

Earnings vs Industry: ELS earnings growth over the past year (19.7%) underperformed the REITs industry 29.5%.


Return on Equity

High ROE: Whilst ELS's Return on Equity (21.05%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is Equity LifeStyle Properties's financial position?


Financial Position Analysis

Short Term Liabilities: ELS's short term assets ($80.5M) do not cover its short term liabilities ($461.1M).

Long Term Liabilities: ELS's short term assets ($80.5M) do not cover its long term liabilities ($3.2B).


Debt to Equity History and Analysis

Debt Level: ELS's net debt to equity ratio (238%) is considered high.

Reducing Debt: ELS's debt to equity ratio has increased from 194.7% to 238.6% over the past 5 years.

Debt Coverage: ELS's debt is not well covered by operating cash flow (17.9%).

Interest Coverage: ELS's interest payments on its debt are well covered by EBIT (3.7x coverage).


Balance Sheet


Dividend

What is Equity LifeStyle Properties's current dividend yield, its reliability and sustainability?

1.88%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ELS's dividend (1.88%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: ELS's dividend (1.88%) is low compared to the top 25% of dividend payers in the US market (3.49%).


Stability and Growth of Payments

Stable Dividend: ELS's dividend payments have been volatile in the past 10 years.

Growing Dividend: ELS's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.6%), ELS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ELS's dividends in 3 years are forecast to be covered by earnings (65.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.3yrs

Average management tenure


CEO

Marguerite Nader (52 yo)

9.67yrs

Tenure

US$3,856,959

Compensation

Mrs. Marguerite M. Nader has been the President of Equity LifeStyle Properties, Inc. since May 10, 2012 and has been its Chief Executive Officer since February 1, 2013. Mrs. Nader serves as an Independent...


CEO Compensation Analysis

Compensation vs Market: Marguerite's total compensation ($USD3.86M) is below average for companies of similar size in the US market ($USD11.31M).

Compensation vs Earnings: Marguerite's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ELS's management team is seasoned and experienced (9.3 years average tenure).


Board Members

Experienced Board: ELS's board of directors are seasoned and experienced ( 10.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Equity LifeStyle Properties, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Equity LifeStyle Properties, Inc.
  • Ticker: ELS
  • Exchange: NYSE
  • Founded: 1992
  • Industry: Residential REITs
  • Sector: Real Estate
  • Implied Market Cap: US$14.885b
  • Market Cap: US$14.179b
  • Shares outstanding: 192.85m
  • Website: https://www.equitylifestyleproperties.com

Number of Employees


Location

  • Equity LifeStyle Properties, Inc.
  • Two North Riverside Plaza
  • Suite 800
  • Chicago
  • Illinois
  • 60606
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/20 23:50
End of Day Share Price2022/01/20 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.