Equity Lifestyle Properties (ELS)

• Market cap: $12.7B
• 1 day: 0.65%
• 5 days: -1.68%
• 1 month: -5.75%
• 3 months: -7.24%
• 6 months: 5.41%
• Year to date: -6.35%
• 1 year: -5.26%
• 5 years: -4.20%
• 10 years: 157.68%
• Sector: Financials
• Industry: Real Estate Investment Trusts

About: Equity Lifestyle Properties is a residential REIT that focuses on owning manufactured housing, residential vehicle communities, and marinas. The company currently has a portfolio of 452 properties across the U.S. with a higher concentration in the Sunbelt region with 38% of the company's properties located in Florida, 12% in Arizona, and 8% in California. Equity Lifestyle targets owning properties in attractive retirement destinations with over 70% of the company's properties either being age-restricted or having an average resident age over 55.

Employees: 4,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

5,743% more call options, than puts

Call options by funds: $2.45M | Put options by funds: $42K

17% more first-time investments, than exits

New positions opened: 55 | Existing positions closed: 47

12% more capital invested

Capital invested by funds: $11.6B [Q2] → $12.9B (+$1.34B) [Q3]

1.88% more ownership

Funds ownership: 95.41% [Q2] → 97.29% (+1.88%) [Q3]

2% more funds holding

Funds holding: 468 [Q2] → 476 (+8) [Q3]

7% more repeat investments, than reductions

Existing positions increased: 187 | Existing positions reduced: 174

20% less funds holding in top 10

Funds holding in top 10: 5 [Q2] → 4 (-1) [Q3]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $71 7% upside
• Avg. target: $73 9% upside
• High target: $76 14% upside

5 analyst ratings

• positive: 1 20%
• neutral: 4 80%
• negative: 0 0%

Truist Securities Anthony Hau 41% 1-year accuracy 13 / 32 met price target	7% upside $71	Hold Maintained	12 Nov 2024
Compass Point Merrill Ross 33% 1-year accuracy 4 / 12 met price target	8% upside $72	Neutral Maintained	23 Oct 2024
Evercore ISI Group Steve Sakwa 45% 1-year accuracy 24 / 53 met price target	14% upside $76	In-Line Maintained	23 Oct 2024
Baird Wesley Golladay 67% 1-year accuracy 6 / 9 met price target	8% upside $72	Outperform Maintained	22 Oct 2024
Jefferies Peter Abramowitz 63% 1-year accuracy 5 / 8 met price target	8% upside $72	Hold Initiated	17 Oct 2024