Equity LifeStyle Properties, Inc. (ELS)
Real Estate · NYQ · US
Fundamentals
Valuation and ratings
Equity LifeStyle Properties, Inc. trades at USD65.95, which is 61% above the USD25.63 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 65 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 32.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Equity LifeStyle Properties, Inc.
Equity LifeStyle Properties, Inc. is a self-administered, self-managed real estate investment trust. As of March 31, 2026, they own or have an interest in 453 properties in 35 states and British Columbia consisting of 173,419 sites. Equity LifeStyle Properties, Inc. is headquartered in Chicago. Equity LifeStyle Properties, Inc. was incorporated in 1992 in Maryland and based in Chicago, Illinois.
ELS passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
9 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$86.13M · 0.1% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$68.27M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$55.12M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$37.13M · 0.0% of book
- Joel Greenblatt, Gotham Asset Management, LLC$15.53M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Equity LifeStyle Properties, Inc. (ELS) undervalued?
Against our discounted cash flow estimate of USD25.63, ELS at USD65.95 is 61% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own ELS?
9 of the institutions we track reported a position in ELS in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is ELS's P/E ratio?
ELS trades at 32.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for ELS, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.