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Equity Lifestyle PropertiesNYSEReal EstateReit - ResidentialSnapshot 2026-06-12
Intact
$64.83+1.39%
Close 2026-06-12 · 1-day change
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
The bottom line
Recent financial performance is strong, but earnings quality and management's track record are neutral. Risk is low, while the sector backdrop presents a headwind, and ELS trades above typical peer multiples. Peer multiples imply a price about 73% below where it trades (it looks expensive on this basis); the read is rich, as it trades above peer multiples, and the longer horizon does not make that back through growth. If ELS cuts guidance on the next call, that could have a meaningful negative impact. This read is provisional.
as of 2026-06-12
Quick facts
- Exchange
- NYSE
- Sector
- Real Estate
- Industry
- Reit - Residential
- Market cap
- $12.81B
- Employees
- —
- IPO date
- 1996-05-10
- Next earnings
- 2026-07-20
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 7 valuation methods, at three horizons. Current price $64.83. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryexpensive
$37.46consensus
Range $30.85 – $45.15
vs price: +73% above
Method agreement — · 7 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearfull
$48.14consensus
Range $45.56 – $56.01
vs price: +35% above
Method agreement — · 6 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearfull
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Durable premiumlow confidence
At $65 the market pays 33× p/e — above the 15× p/e peer median but in line with its own 40× history. That premium reflects a durable franchise our peer-anchored $37 fair value understates; treat the 'expensive vs peers' read with low confidence. Analysts: $67–$75. Not investment advice.
Multiple (P/E)
33.4x
peer 14.8x · own history 39.8x
Premium
2.3x peer
0.8x its own history
Growth the price needs
73%
our forecast 2%
Our fair value
$37.46
range $30.96 – $45.49
Analyst range(a guide on our number, not a target)Our number is below the analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
expensiverich12-month view
What's priced inUnjustified
The market is pricing in roughly 73% near-term growth, well above our forecast of about 2%. This describes what's priced in, not a forecast of the move.
High fragilityrisk posture, not a price call
Flags: expensive valuation, weak execution quality, a turbulent sector regime (Heating).
Historical context
For similar setups historically (n=889): about 49% saw a 20%+ drawdown, and roughly 85% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
strongOperating income rose in 3 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated strong grew net income 57% of the time over the next year (vs 54% for the rest of the cohort, n=1506).
82nd pctl · Real Estate
Earnings quality
neutralOver the trailing year it converted 1.43x of net income into operating cash flow. Historically, Real Estate names rated neutral grew net income 61% of the time over the next year (vs 47% for the rest of the cohort, n=1866).
33rd pctl · Real Estate
Macro sensitivity
Most sensitive to real (inflation-adjusted) rates and long-term interest rates.
- real (inflation-adjusted) rates: This stock behaves like a long-duration asset — tends to fall when real rates rise.
- long-term interest rates: This stock tends to fall when long-term rates rise.
Not enough signal to read sensitivity to the US dollar, the broad stock market, Fed net liquidity.
Earnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
Bearish5 analysts, 72% Buyfor period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $0.44 → $0.44 (+0.1% / 30d). 0 raised, 2 cut, 5 covering analysts.
Rating actions
0 upgrades, 0 downgrades / 30d, 1 maintained. 72% of analysts rate Buy.
Material events
0 positive, 0 negative / 30d.
Sector context
Intermediate · WeeklySector phase: real estate is in maturing, with decelerating (~1.2 years in phase).
Sector regime (90d momentum): headwind.Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: strong
- Capital allocation
- strong
- Earnings discipline
- strong
- Margin discipline
- strong
- Balance sheet
- strong
- Post-call reaction
- weak
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$61.
How much price usually moves either way.
On a bad day, this stock has moved -$173.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $1,034.
Deepest peak-to-trough drop in the last year.
lowas of 2026-06-12
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- UpsideHigh confidenceMonthsactive 14d
Watch for dividend payout stability in Q2 2026
Why it matters: Keeping the dividend shows the company cares about giving value to shareholders. A steady payout helps investors feel confident.
What confirms / what disproves
Confirms:The company will pay a dividend of $0.5425 per share for Q2 2026. This is the same as in past quarters.
Disproves:The company reduces the dividend payout below $0.5425 per share for Q2 2026.
Management priorities
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for ELS yet.
This sector is also watching
- Watch for impact of upcoming economic reports on Real Estate
- Watch for revenue growth across major REITs to re-accelerate
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for ELS and other Real Estate names, since rate-sensitive parts of the market tend to rally when the Fed eases.
- If sector bellwethers like AVB, EQR, and ESS keep beating earnings and guiding higher, the Real Estate sector momentum should keep lifting ELS and other Real Estate names. Worth watching these names for early signals.
- If ELS raises forward guidance on the next earnings call (currently NEW as of 2026-04-22), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
Downside triggers
- If ELS cuts guidance on the next call (currently NEW as of 2026-04-22), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like AVB, EQR, and ESS start missing or guiding lower, the Real Estate tailwind helping ELS and other Real Estate names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-2717d agoItem 7.01
of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any registration statement filed by Equity Lifestyle Properties, Inc. under the Securities Act of 1933, as amended. This report includes certain “forward-looking statements” within the meaning of the P…
Capital allocationneutral
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
-6.9 vs last weeklatest as of 2026-06-13
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.