Equity LifeStyle Properties
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We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. The last earnings update was 20 days ago. More info.
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ELS Share Price and Events
7 Day Returns
1 Year Returns
ELS Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Equity LifeStyle Properties (ELS) | 0.8% | 3.7% | 8.7% | 36.6% | 63.4% | 177.5% |
| US REITs | 1.8% | 2.4% | 3.1% | 16.3% | 13.8% | 26.4% |
| US Market | -0.7% | -2% | 2.4% | 3% | 39.2% | 42% |
1 Year Return vs Industry and Market
- ELS outperformed the REITs industry which returned 16.3% over the past year.
- ELS outperformed the Market in United States of America which returned 3% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Equity LifeStyle Properties
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Equity LifeStyle Properties.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 2 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.5% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.53 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (20.83%)) |
0.744 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%) |
7.5% |
Discounted Cash Flow Calculation for NYSE:ELS using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Equity LifeStyle Properties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Equity LifeStyle Properties is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 7.5%) |
|
|---|---|---|---|
| 2019 | 378.62 | Analyst x2 | 352.21 |
| 2020 | 375.79 | Analyst x1 | 325.20 |
| 2021 | 390.28 | Est @ 3.85% | 314.17 |
| 2022 | 404.00 | Est @ 3.52% | 302.54 |
| 2023 | 417.26 | Est @ 3.28% | 290.67 |
| 2024 | 430.26 | Est @ 3.12% | 278.82 |
| 2025 | 443.17 | Est @ 3% | 267.16 |
| 2026 | 456.10 | Est @ 2.92% | 255.78 |
| 2027 | 469.16 | Est @ 2.86% | 244.75 |
| 2028 | 482.40 | Est @ 2.82% | 234.10 |
| Present value of next 10 years cash flows | $2,865.40 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $482.40 × (1 + 2.73%) ÷ (7.5% – 2.73%) |
$10,393.70 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $10,393.70 ÷ (1 + 7.5%)10 |
$5,043.90 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $2,865.40 + $5,043.90 |
$7,909.30 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $7,909.30 / 95.74 |
$82.61 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $82.61 |
| Current discount | Discount to share price of
$118.56
= -1 x ($118.56 - $82.61) / $82.61 |
-43.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Equity LifeStyle Properties is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Equity LifeStyle Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Equity LifeStyle Properties's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $2.98 |
| NYSE:ELS Share Price ** | NYSE (2019-05-17) in USD | $118.56 |
| United States of America REITs Industry PE Ratio | Median Figure of 156 Publicly-Listed REITs Companies | 32.79x |
| United States of America Market PE Ratio | Median Figure of 3,088 Publicly-Listed Companies | 17.89x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Equity LifeStyle Properties.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:ELS Share Price ÷ EPS (both in USD) = 118.56 ÷ 2.98 |
39.84x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Equity LifeStyle Properties is overvalued based on earnings compared to the US REITs industry average.
- Equity LifeStyle Properties is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Equity LifeStyle Properties's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 39.84x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
-4.9%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 141 Publicly-Listed REITs Companies | 2.4x |
| United States of America Market PEG Ratio | Median Figure of 2,117 Publicly-Listed Companies | 1.56x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 39.84x ÷ -4.9% |
-8.17x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Equity LifeStyle Properties earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Equity LifeStyle Properties's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $13.13 |
| NYSE:ELS Share Price * | NYSE (2019-05-17) in USD | $118.56 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.86x |
| United States of America Market PB Ratio | Median Figure of 5,195 Publicly-Listed Companies | 1.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:ELS Share Price ÷ Book Value per Share (both in USD) = 118.56 ÷ 13.13 |
9.03x |
* Primary Listing of Equity LifeStyle Properties.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Equity LifeStyle Properties is overvalued based on assets compared to the US REITs industry average.
Value checks
We assess Equity LifeStyle Properties's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Equity LifeStyle Properties has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Equity LifeStyle Properties's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
- Equity LifeStyle Properties's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
- Equity LifeStyle Properties's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:ELS Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | -4.9% |
| NYSE:ELS Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | 2.3% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 5.7% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 4.3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | ||||
| 2020-12-31 | 1,035 | 246 | 2 | |
| 2019-12-31 | 991 | 280 | 2 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,005 | 417 | 266 |
| 2018-12-31 | 992 | 411 | 213 |
| 2018-09-30 | 981 | 399 | 207 |
| 2018-06-30 | 963 | 394 | 200 |
| 2018-03-31 | 943 | 386 | 193 |
| 2017-12-31 | 929 | 378 | 190 |
| 2017-09-30 | 910 | 382 | 182 |
| 2017-06-30 | 897 | 380 | 174 |
| 2017-03-31 | 886 | 365 | 170 |
| 2016-12-31 | 873 | 352 | 164 |
| 2016-09-30 | 861 | 340 | 162 |
| 2016-06-30 | 846 | 330 | 157 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
All data from Equity LifeStyle Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | ||||
| 2020-12-31 | 2.69 | 2.69 | 2.69 | 1.00 |
| 2019-12-31 | 2.93 | 2.99 | 2.86 | 2.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 2.98 |
| 2018-12-31 | 2.39 |
| 2018-09-30 | 2.34 |
| 2018-06-30 | 2.27 |
| 2018-03-31 | 2.21 |
| 2017-12-31 | 2.18 |
| 2017-09-30 | 2.11 |
| 2017-06-30 | 2.03 |
| 2017-03-31 | 2.00 |
| 2016-12-31 | 1.93 |
| 2016-09-30 | 1.91 |
| 2016-06-30 | 1.87 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Equity LifeStyle Properties will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Equity LifeStyle Properties's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Equity LifeStyle Properties has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Equity LifeStyle Properties performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Equity LifeStyle Properties's year on year earnings growth rate has been positive over the past 5 years.
- Equity LifeStyle Properties's 1-year earnings growth exceeds its 5-year average (37.5% vs 19.4%)
- Equity LifeStyle Properties's earnings growth has exceeded the US REITs industry average in the past year (37.5% vs 16%).
Earnings and Revenue History
All data from Equity LifeStyle Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,005.00 | 265.68 | 56.80 | |
| 2018-12-31 | 991.59 | 212.60 | 54.32 | |
| 2018-09-30 | 980.77 | 207.42 | 50.82 | |
| 2018-06-30 | 962.92 | 199.88 | 49.56 | |
| 2018-03-31 | 942.76 | 193.24 | 47.68 | |
| 2017-12-31 | 929.08 | 189.90 | 46.64 | |
| 2017-09-30 | 909.61 | 181.88 | 46.13 | |
| 2017-06-30 | 897.06 | 174.35 | 45.24 | |
| 2017-03-31 | 885.55 | 170.34 | 44.77 | |
| 2016-12-31 | 873.04 | 164.04 | 44.42 | |
| 2016-09-30 | 860.63 | 161.57 | 44.82 | |
| 2016-06-30 | 846.00 | 157.25 | 44.56 | |
| 2016-03-31 | 837.47 | 153.54 | 44.69 | |
| 2015-12-31 | 825.74 | 130.15 | 44.46 | |
| 2015-09-30 | 814.72 | 125.05 | 44.21 | |
| 2015-06-30 | 804.70 | 114.12 | 43.89 | |
| 2015-03-31 | 792.05 | 107.82 | 42.42 | |
| 2014-12-31 | 781.39 | 118.73 | 40.52 | |
| 2014-09-30 | 771.29 | 113.59 | 42.48 | |
| 2014-06-30 | 757.68 | 76.15 | 41.28 | |
| 2014-03-31 | 745.37 | 65.36 | 41.11 | |
| 2013-12-31 | 731.09 | 58.26 | 41.84 | |
| 2013-09-30 | 713.71 | 50.79 | 38.05 | |
| 2013-06-30 | 700.64 | 75.78 | 37.51 | |
| 2013-03-31 | 692.15 | 62.79 | 36.62 | |
| 2012-12-31 | 686.20 | 44.07 | 39.06 | |
| 2012-09-30 | 682.60 | 27.12 | 33.79 | |
| 2012-06-30 | 671.57 | 10.97 | 33.33 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Whilst Equity LifeStyle Properties has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
- Equity LifeStyle Properties used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
- Equity LifeStyle Properties has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Equity LifeStyle Properties's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Equity LifeStyle Properties has a total score of 5/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Equity LifeStyle Properties's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Equity LifeStyle Properties's finances.
The net worth of a company is the difference between its assets and liabilities.
- Equity LifeStyle Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Equity LifeStyle Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Equity LifeStyle Properties Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 1,257.32 | 2,364.10 | 116.82 |
| 2018-12-31 | 1,193.34 | 2,348.35 | 44.87 |
| 2018-09-30 | 1,190.52 | 2,294.80 | 107.11 |
| 2018-06-30 | 1,101.83 | 2,227.00 | 40.73 |
| 2018-03-31 | 1,101.14 | 2,238.89 | 73.89 |
| 2017-12-31 | 1,100.04 | 2,200.02 | 18.43 |
| 2017-09-30 | 1,015.18 | 2,181.14 | 77.40 |
| 2017-06-30 | 1,099.41 | 2,054.51 | 67.74 |
| 2017-03-31 | 1,099.75 | 2,059.32 | 73.25 |
| 2016-12-31 | 1,081.85 | 2,091.51 | 56.34 |
| 2016-09-30 | 1,074.61 | 2,092.67 | 68.81 |
| 2016-06-30 | 1,065.92 | 2,116.31 | 74.87 |
| 2016-03-31 | 1,015.16 | 2,107.46 | 97.11 |
| 2015-12-31 | 992.69 | 2,126.61 | 80.26 |
| 2015-09-30 | 989.18 | 2,157.86 | 89.40 |
| 2015-06-30 | 981.68 | 2,167.55 | 84.95 |
| 2015-03-31 | 979.09 | 2,212.98 | 102.70 |
| 2014-12-31 | 979.03 | 2,212.63 | 73.71 |
| 2014-09-30 | 976.54 | 2,205.94 | 109.14 |
| 2014-06-30 | 975.15 | 2,184.73 | 84.81 |
| 2014-03-31 | 974.73 | 2,176.91 | 56.43 |
| 2013-12-31 | 963.21 | 2,193.30 | 58.43 |
| 2013-09-30 | 959.54 | 2,195.67 | 51.53 |
| 2013-06-30 | 939.04 | 2,324.60 | 177.90 |
| 2013-03-31 | 941.47 | 2,253.58 | 81.82 |
| 2012-12-31 | 924.30 | 2,264.20 | 37.13 |
| 2012-09-30 | 980.78 | 2,287.22 | 147.87 |
| 2012-06-30 | 979.06 | 2,291.41 | 134.97 |
- Equity LifeStyle Properties's level of debt (188%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (223.3% vs 188% today).
- Debt is not well covered by operating cash flow (17.7%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 3.2x coverage).
Financial health checks
We assess Equity LifeStyle Properties's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Equity LifeStyle Properties has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Equity LifeStyle Properties's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Equity LifeStyle Properties
shares you are expected to receive
$41
in your first year as a dividend.
Dividend Amount
- Equity LifeStyle Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Equity LifeStyle Properties's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
Upcoming dividend payment
Purchase Equity LifeStyle Properties before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 184 Stocks | 3.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2000 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 2.88 | 1.00 |
| 2020-12-31 | 2.64 | 4.00 |
| 2019-12-31 | 2.45 | 4.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-30 | 2.450 | 2.089 |
| 2019-02-12 | 2.450 | 2.174 |
| 2018-10-30 | 2.200 | 2.211 |
| 2018-07-31 | 2.200 | 2.323 |
| 2018-05-01 | 2.200 | 2.428 |
| 2018-02-27 | 2.200 | 2.546 |
| 2017-11-02 | 1.950 | 2.230 |
| 2017-07-25 | 1.950 | 2.230 |
| 2017-05-02 | 1.950 | 2.299 |
| 2017-02-21 | 1.950 | 2.472 |
| 2016-11-08 | 1.950 | 2.719 |
| 2016-08-09 | 1.700 | 2.226 |
| 2016-05-10 | 1.700 | 2.222 |
| 2016-03-08 | 1.700 | 2.382 |
| 2015-11-03 | 1.700 | 2.624 |
| 2015-08-04 | 1.500 | 2.567 |
| 2015-05-12 | 1.500 | 2.737 |
| 2015-03-10 | 1.500 | 2.766 |
| 2015-02-24 | 1.300 | 2.430 |
| 2015-01-26 | 1.300 | 2.378 |
| 2014-11-05 | 1.500 | 2.933 |
| 2014-08-05 | 1.300 | 2.906 |
| 2014-05-14 | 1.300 | 2.954 |
| 2014-03-11 | 1.300 | 3.144 |
| 2014-02-24 | 1.000 | 2.476 |
| 2014-01-27 | 1.000 | 2.542 |
| 2013-11-05 | 1.300 | 3.577 |
| 2013-08-06 | 1.000 | 2.797 |
| 2013-05-08 | 1.000 | 2.507 |
| 2013-03-13 | 1.000 | 2.539 |
| 2013-02-28 | 0.875 | 2.351 |
| 2013-01-28 | 0.875 | 2.381 |
| 2012-11-06 | 1.000 | 2.965 |
| 2012-08-07 | 0.875 | 2.557 |
| 2012-05-08 | 0.875 | 2.544 |
| 2012-03-06 | 0.875 | 2.554 |
| 2011-11-08 | 0.750 | 2.289 |
| 2011-08-09 | 0.750 | 2.303 |
| 2011-05-11 | 0.750 | 2.398 |
| 2011-03-08 | 0.750 | 2.604 |
| 2011-02-24 | 0.600 | 2.102 |
| 2011-01-24 | 0.600 | 2.104 |
| 2010-11-09 | 0.750 | 2.715 |
| 2010-08-10 | 0.600 | 2.193 |
| 2010-05-11 | 0.600 | 2.345 |
| 2010-03-16 | 0.600 | 2.170 |
| 2009-11-10 | 0.600 | 2.442 |
| 2009-08-11 | 0.600 | 2.755 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Income/ dividend checks
We assess Equity LifeStyle Properties's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Equity LifeStyle Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Equity LifeStyle Properties has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $4,157,015 |
| AGE | 49 |
| TENURE AS CEO | 6.3 years |
CEO Bio
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. Previously, Mrs. Nader served as the Chief Financial Officer of Equity LifeStyle Properties from December 2011 to October 2012. She served as the Executive Vice President of New Business Development at Equity LifeStyle Properties, Inc. from February 2011 to December 2011, Executive Vice President of Sales and Marketing from February 2009 to February 2011, Senior Vice President of New Business Development from January 2007 to February 2009, Vice President of New Business Development from January 2001 to January 2007 and Vice President of Asset Management from January 1998 to January 2001 at the Equity LifeStyle Properties. Mrs. Nader joined Equity LifeStyle Properties, Inc. in 1993. She has been a Director of Equity LifeStyle Properties, Inc. since March 2013. She has been a Trustee of Liberty Property Trust since June 22, 2017. She has been Member of Board of Governors at National Association of Real Estate Investment Trusts since 2013.
CEO Compensation
- Marguerite's compensation has increased by more than 20% in the past year.
- Marguerite's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Equity LifeStyle Properties management team in years:
- The average tenure for the Equity LifeStyle Properties management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Marguerite Nader
President
$4M
49
6.3 yrs
Paul Seavey
Executive VP
$3M
49
6.6 yrs
Patrick Waite
Executive VP & COO
$3M
51
6.3 yrs
Roger Maynard
Executive Vice President of Investments
$2M
60
3.2 yrs
Carmelina M. Stoklosa
Vice President of Treasury
David Eldersveld
Executive VP
Jim Phillips
Senior Vice President of Sales
6.8 yrs
Larisa Drake
Executive VP & Chief Marketing Officer
46
3.3 yrs
Peter Underhill
Senior Vice President of Revenue Management
6.8 yrs
Ron Bunce
Senior Vice President of West Operations
6.8 yrs
Board of Directors Tenure
Average tenure and age of the Equity LifeStyle Properties board of directors in years:
- The tenure for the Equity LifeStyle Properties board of directors is about average.
Board of Directors
Sam Zell
Chairman of the Board
$4M
76
24.2 yrs
Marguerite Nader
President
$4M
49
6.2 yrs
Tom Heneghan
Vice Chairman of the Board
$198K
54
6.3 yrs
Phil Calian
Director
$208K
56
13.6 yrs
David Contis
Director
$185K
59
10.3 yrs
Sheli Rosenberg
Lead Director
$232K
76
17.3 yrs
Tao Huang
Director
$146K
56
3.5 yrs
Constance Freedman
Director
$168K
43
1.6 yrs
Scott Peppet
Director
$72K
49
0.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 05. Feb 19 | Sell | David Contis | Individual | 04. Feb 19 | 04. Feb 19 | -6,581 | $105.53 | $-694,524 | ||
| 21. Nov 18 | Sell | Roger Maynard | Individual | 19. Nov 18 | 19. Nov 18 | -10,000 | $96.74 | $-967,103 | ||
| 05. Jun 18 | Sell | David Contis | Individual | 01. Jun 18 | 01. Jun 18 | -3,304 | $90.95 | $-300,496 | ||
Management checks
We assess Equity LifeStyle Properties's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Equity LifeStyle Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Is Equity LifeStyle Properties, Inc.'s (NYSE:ELS) 2.1% Dividend Worth Your Time?
Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, Equity LifeStyle Properties paid out 51% of its profit as dividends. A payout ratio above 50% generally implies a business is reaching maturity, although it is still possible to reinvest in the business or increase the dividend over time. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Equity LifeStyle Properties's cash payout ratio in the last year was 46%, which suggests dividends were well covered by cash generated by the business. REITs like Equity LifeStyle Properties often have different rules governing their distributions, so a higher payout ratio on its own is not unusual. Is Equity LifeStyle Properties's Balance Sheet Risky? As Equity LifeStyle Properties has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments on debt. Essentially we check that a) a company does not have too much debt, and b) that it can afford to pay the interest. … For the purpose of this article, we only scrutinise the last decade of Equity LifeStyle Properties's dividend payments. … First, we think Equity LifeStyle Properties has an acceptable payout ratio and its dividend is well covered by cashflow.
Simply Wall St - – Full articleNeed To Know: Equity LifeStyle Properties, Inc. (NYSE:ELS) Insiders Have Been Selling Shares
The Last 12 Months Of Insider Transactions At Equity LifeStyle Properties. … That means that even when the share price was below the current price of US$115, an insider wanted to cash in some shares … As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation
Simply Wall St - – Full articleIs Equity LifeStyle Properties, Inc.'s (NYSE:ELS) 19% ROE Better Than Average?
By way of learning-by-doing, we'll look at ROE to gain a better understanding of Equity LifeStyle Properties, Inc. … Our data shows Equity LifeStyle Properties has a return on equity of 19% for the last year. … See our latest analysis for Equity LifeStyle Properties?
Simply Wall St - – Full articleEquity LifeStyle Properties Shareholders Have Enjoyed An Impressive 163% Share Price Gain
One flawed but reasonable way to assess how sentiment around a company has changed, is to compare the earnings per share (EPS) with the share price. … During five years of share price growth, Equity LifeStyle Properties achieved compound earnings per share (EPS) growth of 28% per year. … The EPS growth is more impressive than the yearly share price gain of 21% over the same period.
Simply Wall St - – Full articleInvesting In Equity LifeStyle Properties, Inc. (NYSE:ELS): What You Need To Know
Equity LifeStyle Properties, Inc. … real estate investment trust (REIT) based in Chicago, United States. … View our latest analysis for Equity LifeStyle Properties
Simply Wall St - – Full articleIs Equity LifeStyle Properties Inc's (NYSE:ELS) ROE Of 19% Impressive?
Equity LifeStyle Properties has a ROE of 19%, based on the last twelve months. … Check out our latest analysis for Equity LifeStyle Properties? … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleWhat You Need To Know Before Investing In Equity LifeStyle Properties Inc (NYSE:ELS)
Equity LifeStyle Properties Inc is a US$9.0b. … real estate investment trust (REIT) based in Chicago, United States. … See our latest analysis for Equity LifeStyle Properties
Simply Wall St - – Full articleDoes Equity LifeStyle Properties Inc's (NYSE:ELS) CEO Salary Reflect Performance?
In 2013 Marguerite Nader was appointed CEO of Equity LifeStyle Properties Inc (NYSE:ELS). … How Does Marguerite Nader's Compensation Compare With Similar Sized Companies. … A first glance this seems like a real positive for shareholders, since Marguerite Nader is paid less than the average compensation paid by similar sized companies.
Simply Wall St - – Full articleInvesting In Property Through Equity LifeStyle Properties Inc (NYSE:ELS)
Equity LifeStyle Properties Inc is a US$8.63b. … real estate investment trust (REIT) based in Chicago, United States. … View out our latest analysis for Equity LifeStyle Properties
Simply Wall St - – Full articleInvesting In Equity LifeStyle Properties Inc (NYSE:ELS): What You Need To Know
See our latest analysis for Equity LifeStyle Properties Funds from Operations (FFO) is a higher quality measure of ELS's earnings compared to net income. … I also look at ELS's interest coverage ratio, which demonstrates how many times its earnings can cover its yearly interest expense. … Equity LifeStyle Properties can bring about diversification for your portfolio, but before you decide to invest, take a look at the other aspects you must consider before investing: Future Outlook: What are well-informed industry analysts predicting for ELS’s future growth?
Simply Wall St - – Full articleCompany Info
Description
We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. As of April 22, 2019, we own or have an interest in 412 quality properties in 33 states and British Columbia consisting of 155,133 sites.
Details
| Name: | Equity LifeStyle Properties, Inc. |
| ELS | |
| Exchange: | NYSE |
| Founded: | 1992 |
| $11,350,696,094 | |
| $10,670,261,166 | |
| 95,737,990 | |
| Website: | http://www.equitylifestyleproperties.com |
| Address: |
Equity LifeStyle Properties, Inc. Two North Riverside Plaza, Suite 800, Chicago, Illinois, 60606, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | ELS | Common Shares | New York Stock Exchange | US | USD | 25. Feb 1993 | |
| DB | MHV | Common Shares | Deutsche Boerse AG | DE | EUR | 25. Feb 1993 |
Number of employees
Current staff
Industry
| Residential REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/20 01:57 |
| End of day share price update: | 2019/05/17 00:00 |
| Last estimates confirmation: | 2019/05/17 |
| Last earnings filing: | 2019/04/30 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
