Equity LifeStyle Properties
Owns land-lease communities, RV resorts and marinas across the United States and British Columbia.
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Profile
Collects site rent from manufactured-home communities, RV resorts, campgrounds and marinas, alongside membership fees and home sales and rentals. Property Operations anchors the business, with most revenue coming from annual sources across the United States and British Columbia.
Owns and operates land-lease properties where manufactured-home residents, RV travelers and boat owners rent sites or slips. Property Operations spans MH communities, RV resorts and campgrounds under Thousand Trails and Encore, and a smaller marina network; Home Sales and Rentals Operations buys, sells and leases homes within the communities.
Generates site rent across annual, seasonal and transient stays, plus campground membership fees and home activity. Most revenue comes from annual sources, and the portfolio is concentrated in the United States with a smaller presence in British Columbia. Onsite teams, regional management and community upgrades support local operations across hundreds of properties.
Results depend on housing, zoning, rent-control and land-use rules, as well as capital access for expansion and refinancing. Coastal and leisure-market exposure also ties occupancy and repair timing to storms, insurance and travel demand.
Company facts
Key statistics
Year to date +6.6% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Barclays | Reiterate | Equal Weight | $71 | $69 | |
| Aug 12, 2026 | Morgan Stanley | Reiterate | Mixed | $62.50 | $59 | |
| Jul 14, 2026 | Barclays | Downgrade | Overweight | Equal Weight | ||
| Jul 9, 2026 | Odeon Capital Group LLC | Target | $65 | |||
| May 5, 2026 | Truist Financial | Target | $66 | $67 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $0.43 | $0.50 | +15.0% | $383.7M | $397.8M | +3.7% | +0.84% |
| Apr 21, 2026Q1 FY26 | $0.55 | $0.84 | +53.8% | $395.7M | $397.6M | +0.5% | −3.37% |
| Jan 28, 2026Q4 FY25 | $0.54 | $0.79 | +45.8% | $382.3M | $373.9M | −2.2% | +1.37% |
| Oct 22, 2025Q3 FY25 | $0.46 | $0.75 | +61.3% | $383.5M | $373.4M | −2.6% | −3.76% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $367.5M | $372.6M | $373.4M | $417.9M | $397.6M | $397.8M | |
| Gross profit | $193.2M | $185.7M | $181.8M | $15.6M | $109.1M | $380.9M | |
| Operating income | $122.9M | $111.5M | $109.3M | $174.1M | $146.1M | $137.7M | |
| Net income | $109.2M | $79.7M | $97.1M | $100.5M | $107.9M | $96.3M | |
| Diluted EPS | $0.57 | $0.42 | $0.50 | $0.44 | $0.54 | $0.48 | |
| Gross margin | 52.6% | 49.8% | 48.7% | 3.7% | 27.4% | 95.8% | |
| Operating margin | 33.4% | 29.9% | 29.3% | 41.7% | 36.7% | 34.6% |
Fiscal years (4-quarter sums)FY21 $1.29B · FY22 $1.43B · FY23 $1.40B · FY24 $1.47B · FY25 $1.53B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $35.6M · Total debt $3.31B · Total assets $5.80B · Shareholders' equity $1.76B
Dividends
Raised for 21 straight years — most recently to $0.5425 from $0.515 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2026 | Jun 26 | Jul 10 | $0.5425 | |
| Mar 27, 2026 | Mar 27 | Apr 10 | $0.5425 | raised from $0.515 |
| Dec 26, 2025 | Dec 26 | Jan 9 | $0.515 | |
| Sep 26, 2025 | Sep 26 | Oct 10 | $0.515 | |
| Jun 27, 2025 | Jun 27 | Jul 11 | $0.515 | |
| Mar 28, 2025 | Mar 28 | Apr 11 | $0.515 | raised from $0.4775 |
| Dec 27, 2024 | Dec 27 | Jan 10 | $0.4775 | |
| Sep 27, 2024 | Sep 27 | Oct 11 | $0.4775 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 194.06M · Float 192.42M · 99.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 24.46M | 12.60% | 13F | Aug 7, 2026 |
| Price T Rowe Associates Inc /MD/ | 18.21M | 9.38% | 13F | Aug 14, 2026 |
| T. Rowe Price Associates, Inc. | 17.85M | 9.20% | 13G | May 15, 2026 |
| Vanguard Portfolio Management LLC | 16.43M | 8.47% | 13F | Aug 13, 2026 |
| Cohen & Steers, Inc. | 14.89M | 7.67% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 18, 2026 | David J. Contis | director | −3,000 | $67.22 |
Peers
- Sun Communities
Closest public peer across manufactured housing and RV communities
- UMH
Manufactured-housing REIT competing for residents and communities
- MarineMax
Marina operator overlapping in boat slips, storage and services
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Equity LifeStyle Properties | $63.74 | +0.02% | $12.37B | 32.5 | 30.1 | 7.8 | +6.8% |
| Sun Communities | $122.92 | −0.04% | $15.15B | — | 41.4 | 6.9 | −20.2% |
| UMH | $16.48 | 0.00% | $1.40B | 91.6 | 125.8 | 5.2 | +7.5% |
| MarineMax | $52.18 | +0.02% | $1.15B | 306.6 | 37.7 | 0.5 | −7.0% |
| Median | 199.1 | 41.4 | 5.2 | −7.0% |