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Companies / Real Estate / Equity LifeStyle Properties, Inc.
ELS

Equity LifeStyle Properties, Inc.

Ticker ELSCHICAGO, ILFiscal year ends DecemberBook value per share $8.78Diluted shares 200.2M

Equity LifeStyle Properties, Inc. (NYSE: ELS) owns and operates lifestyle-oriented manufactured home, recreational vehicle (RV) and marina properties. It leases sites to customers who own manufactured homes, cottages, RVs or boats, and offers both long-term site rentals and short-term stays; some campgrounds also… From the company’s description.

In fiscal 2025, Equity LifeStyle Properties, Inc. reported revenue of $1.53B, up 0.3% from fiscal 2024, and net income of $402.06M. Its operating margin was 25.6%, and operations generated $571.15M in cash. Over the twelve months to Jun 30, 2026, revenue was $1.56B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.53BFY2025
+0.3% year over year
Last 12 mo $1.56B
25.56%FY2025
+0.6 percentage points
Last 12 mo 26.20%
$402.06MFY2025
+4.5% year over year
Last 12 mo $415.18M
22.01%FY2025
+0.9 percentage points
Last 12 mo 22.85%
Cash & financing
$571.15MFY2025
−4.3% year over year
Last 12 mo $588.64M
$334.06MFY2025
−5.7% year over year
Last 12 mo $345.41M
1.89FY2025
Was 1.84× a year earlier
Last 12 mo 1.88
200.1MFY2025
+1.8% year over year
Last 12 mo 200.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Equity LifeStyle Properties, Inc. does

In the company’s own words

Equity LifeStyle Properties, Inc. (NYSE: ELS) owns and operates lifestyle-oriented manufactured home, recreational vehicle (RV) and marina properties. It leases sites to customers who own manufactured homes, cottages, RVs or boats, and offers both long-term site rentals and short-term stays; some campgrounds also provide access through membership subscriptions. Customers include permanent residents, retirees, vacationers, families and second-home owners. The company also sells, rents and brokers factory-built homes, while subsidiaries operate related amenities and businesses such as golf courses, stores and restaurants. Its portfolio comprises 453 properties, including joint ventures, with 173,371 sites across 35 U.S. states and British Columbia as of December 31, 2025. Properties typically include community and recreational amenities, and marinas offer boat-slip and dry-storage rentals. Equity LifeStyle Properties was formed in 1992 to continue the operations of a business that had owned and operated properties since 1969; it is internally managed and primarily holds properties through its operating partnership. Its website is http://www.equitylifestyleproperties.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
CHICAGO, IL
Fiscal year end
December
CIK
895417
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-156.26M$312.52M$781.31M$1.25B$1.72B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Equity LifeStyle Properties, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

469
funds hold it
0 of 35
superinvestors hold it
$6.31B
held by funds, at market
50.9%
of shares held by funds

Largest fund holders · Equity LifeStyle Properties, Inc.’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.34%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.02%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.15%of fund net assets
Victory Sycamore Established Value Fund
VETAX · Victory Portfolios
1.44%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Equity LifeStyle Properties, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Equity LifeStyle Properties, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Equity LifeStyle Properties, Inc.'s last four quarterly filings that the numbers alone won't show?”
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