| Snowflake Score | |
|---|---|
| Valuation | 0/6 |
| Future Growth | 2/6 |
| Past Performance | 4/6 |
| Financial Health | 1/6 |
| Dividends | 4/6 |
ELS Stock Overview
We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago.
Equity LifeStyle Properties Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$77.13 |
| 52 Week High | US$88.70 |
| 52 Week Low | US$58.27 |
| Beta | 0.60 |
| 1 Month Change | -8.15% |
| 3 Month Change | -10.43% |
| 1 Year Change | 24.60% |
| 3 Year Change | 52.67% |
| 5 Year Change | 108.54% |
| Change since IPO | 2,103.71% |
Recent News & Updates
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.
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
| ELS | US REITs | US Market | |
|---|---|---|---|
| 7D | -4.8% | -3.2% | -4.6% |
| 1Y | 24.6% | 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
| ELS volatility | |
|---|---|
| ELS Average Weekly Movement | 2.9% |
| REITs Industry Average Movement | 4.0% |
| Market Average Movement | 6.6% |
| 10% most volatile stocks in US Market | 15.7% |
| 10% least volatile stocks in US Market | 2.4% |
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
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1992 | 4,000 | Marguerite Nader | https://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
| ELS fundamental statistics | |
|---|---|
| Market Cap | US$14.88b |
| Earnings (TTM) | US$261.56m |
| Revenue (TTM) | US$1.22b |
56.9x
P/E Ratio12.2x
P/S RatioIs ELS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ELS income statement (TTM) | |
|---|---|
| Revenue | US$1.22b |
| Cost of Revenue | US$596.11m |
| Gross Profit | US$628.10m |
| Expenses | US$366.53m |
| Earnings | US$261.56m |
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
Jan 25, 2022
| Earnings per share (EPS) | 1.36 |
| Gross Margin | 51.31% |
| Net Profit Margin | 21.37% |
| Debt/Equity Ratio | 238.6% |
How did ELS perform over the long term?
See historical performance and comparisonDividends
1.9%
Current Dividend Yield55%
Payout RatioValuation
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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/20 23:50 |
| End of Day Share Price | 2022/01/20 00:00 |
| Earnings | 2021/09/30 |
| Annual Earnings | 2020/12/31 |
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.