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ELS

Equity LifeStyle Properties, Inc.
$61.17
+3.40% Oct 22 close
Real EstateS&P 400 CompareTechnicals
1M3M6M1Y2Y
-5%0%+6%+12%+17%Oct 2025Oct 2026Apr 2026
ELSSPY
1W
+1.5%
1M
+2.4%
3M
-6.5%
6M
-1.9%
YTD
+3.6%
1Y
-0.0%

Live chart

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What they do

Equity LifeStyle Properties, Inc. is a self-administered, self-managed real estate investment trust. Equity LifeStyle Properties, Inc. is headquartered in Chicago. Equity LifeStyle Properties, Inc. was incorporated in 1992 in Maryland and based in Chicago, Illinois.

Real Estate · REIT - Residential

For information only · Important disclosures

Grades vs sector

Momentum
35th percentile in sector
C-
12-1 return: -1.1%
Percentile within its GICS sector across the S&P 1500.
Growth
44th percentile in sector
C
Revenue growth (YoY): +6.4%
Percentile within its GICS sector across the S&P 1500.
Value
42nd percentile in sector
C
Forward E/P: 3.6% · EBITDA/EV: 5.0%
Percentile within its GICS sector across the S&P 1500.
Profitability
80th percentile in sector
A-
Profit margin: +25.6% · Return on equity: +22.9%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
 Momentum Top 15
Outside this model's universe or screens
 Momentum Blend
Not in the current book
 New Highs Growth
Outside this model's universe or screens
 Coteau Long Book
Not in the current book

News

More news
ELS (ELS) Q3 2026 Earnings Call Transcript
Nasdaq · Oct 21
Equity Lifestyle Properties Q3 26 Earnings Conference Call At 11:00 AM ET
Nasdaq · Oct 21
Equity Lifestyle Properties (ELS) files 8-K: results
SEC 8-K · Oct 21
ELS Reports Third Quarter Results
PR Newswire · Oct 20

Key stats

Market value$12.0B
P/E (last 12 months)28.8
P/E (next 12 months, estimated)27.5
52-week range$57.46 – $69.00
Revenue growth (latest quarter vs a year ago)+3.8%
Dividend yield3.50%
Analyst consensusBuy (19)
Average analyst price target$68.21 (+12%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks expensive
Model read-out from the numbers below, not advice. Score -3 (DCF counts double).
▼DCF (base case)below the price by 53%
•Forward P/E vs sector27.5x vs median 29.6x
•Piotroski F-score4/9
•Altman Z2.3 (grey)
▼Net debt / EBITDA5.4x
•Analyst target+12% (19 analysts)

Discounted cash flow

Bear
$12
-80%
growth -2% · disc. 10.2% · term. 2.0%
Base
$29
-53%
growth 3% · disc. 9.2% · term. 2.5%
Bull
$51
-17%
growth 6% · disc. 8.2% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 10% a year for 10 years.
Implied
+10%/yr
FCF, last 3 yrs
+6%/yr
FCF, last 5 yrs
+6%/yr
Revenue, last 3 yrs
+2%/yr
Revenue, last 5 yrs
+6%/yr
Same inputs as the DCF above: trailing free cash flow 0.6B, 9.2% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-03-31). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.00 (n/a) × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Real Estate

P/E (trailing)
sector median 27.6× · 52nd pct
 28.8×
pricier
Forward P/E
sector median 29.6× · 41st pct
 27.5×
cheaper
EV / EBITDA
sector median 17.2× · 90th pct
 25.2×
pricier
Price / sales
sector median 6.5× · 62nd pct
 7.8×
pricier
Price / book
sector median 1.8× · 94th pct
 6.8×
pricier
FCF yield
sector median 6.9% · 24th pct
 4.8%
pricier

Forward EPS $2.17 vs trailing $2.07 (+5% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
–
Operating margin
25.6%
FCF margin
37.1%
Net margin
25.9%
Return on equity
22.7%
Return on invested capital
7.9%
Net debt / EBITDA
5.4×
Current ratio
–
Interest cover
3.0×
Cash conversion (OCF/NI)
1.4×
Piotroski F-score 4/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✗ Current ratio improved✗ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 2.3 (grey zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$68
+12%
Analysts
19
Buy
Range
$59–$78
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$1.5B$402.1M$571.1M
2024$1.5B$384.8M$596.7M
2023$1.5B$329.7M$548.0M
2022$1.4B$298.8M$475.8M
2021$1.3B$276.0M$509.0M
2020$1.1B$241.4M$417.4M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +1.9%.

Earnings

Next report: 2027-01-27 · during market · EPS est 0.53
25-0125-0425-0725-1026-0126-0426-0726-100.000.57
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-10-200.500.43-14.7%
2026-07-210.440.48+9.9%
2026-04-210.540.54-1.0%
2026-01-280.510.50-0.4%
2025-10-220.460.50+8.8%
2025-07-210.410.40-2.6%
2025-04-210.560.57+1.9%
2025-01-270.480.48-0.9%

Quarterly revenue

QuarterRevenueYoY
2026-03-31$379.6M+3.3%
2025-12-31$353.3M–
2025-09-30$373.4M–
2025-06-30$372.6M–
2025-03-31$367.5M–
Rating changes
Reiterated
2026-10-21 · Baird reiterated Outperform on ELS
Reiterated
2026-10-19 · Wells Fargo reiterated Equal-Weight on ELS
Reiterated
2026-10-14 · Barclays reiterated Equal-Weight on ELS
Reiterated
2026-10-13 · RBC Capital reiterated Outperform on ELS
Reiterated
2026-10-06 · UBS reiterated Buy on ELS
Reiterated
2026-09-21 · Evercore ISI Group reiterated In-Line on ELS

Third-party analyst actions, not Coteau's views. All rating changes

Recent dividends

2026-09-25: $0.543 · 2026-06-26: $0.543 · 2026-03-27: $0.543 · 2025-12-26: $0.515 · 2025-09-26: $0.515 · 2025-06-27: $0.515 · 2025-03-28: $0.515 · 2024-12-27: $0.478
Insider trades
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–

Stats refreshed 2026-10-21 11:25:21 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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coteau

Independent research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

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Beta 0.9 · Oct 21, 2026