Equity Lifestyle Properties IncELS
What Equity Lifestyle Properties Inc does.
Equity LifeStyle Properties, Inc. (“ELS” or the “Company”), a Maryland corporation, together with MHC Operating Limited Partnership (the “Operating Partnership”) and its other consolidated subsidiaries (the “Subsidiaries”), are referred to herein as “we,” “us,” and “our”. We are a fully integrated owner of lifestyle-oriented properties (“Properties”) consisting of property operations and home sales and rental operations primarily within manufactured home (“MH”) and recreational vehicle (“RV”) communities and marinas. We were formed in December 1992 to continue the property operations, business objectives and acquisition strategies of an entity that had owned and operated Properties since 1969. Mr. Samuel Zell served as Chairman of our Board of Directors (the “Board”) from the Company’s initial public offering until his passing in May 2023. Mr. Zell is recognized as a founder of the modern real estate investment trust (“REIT”) industry. Commencing with our taxable year ended December 31, 1993, we have elected to be taxed as a REIT for U.S. federal income tax purposes.
We have a unique business model where we own the land which we lease to customers who own manufactured homes and cottages, RVs and/or boats either on a long-term or short-term basis. Our customers may lease individual developed areas (“Sites”) or enter into right-to-use contracts, also known as membership subscriptions, which provide them access to specific Properties for limited stays. Compared to other types of real estate companies, our business model is characterized by low maintenance costs and low customer turnover costs. Our portfolio is geographically diversified across highly desirable locations near retirement and vacation destinations and urban areas across the United States. Our Properties generally attract retirees, vacationing families, second homeowners and first-time homebuyers by providing a community experience and a lower-cost home ownership alternative.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.3B | $1.4B | $1.5B | $1.5B | $1.5B |
| Net income | $241.4M | $276.0M | $298.8M | $329.7M | $384.8M | $402.1M |
| Free cash flow | $208.2M | $111.0M | $343.0M | $230.9M | $355.4M | $334.1M |
More on ELS.
- Equity Lifestyle Properties Inc summary
- Equity Lifestyle Properties Inc financial statements
- Equity Lifestyle Properties Inc key metrics
- Equity Lifestyle Properties Inc health scores and style box
- Equity Lifestyle Properties Inc earnings
- Equity Lifestyle Properties Inc dividends
- Equity Lifestyle Properties Inc valuation
- Equity Lifestyle Properties Inc ownership and insiders
- Equity Lifestyle Properties Inc peers
Figures from Equity Lifestyle Properties Inc's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.