Equity LifeStyle Properties, Inc. · ELS · FY2025 Q1 · Calendar Q2 2025

Equity LifeStyle maintains FFO outlook as occupancy recovers

The current analysis supports a cautiously constructive view: resilient manufactured-home demand, high homeowner occupancy, limited new supply and stable guidance provide support, while hurricane recovery and softer RV demand temper the outlook.

Reported After market closeNYSEReal Estate $11.81B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.83
EPS surprise — Reported versus consensus
Reported revenue — Consensus $392.9M
Revenue surprise — Reported versus consensus

Market reaction

event-close to next-session close
Stock move -1.1% Event window
SPY move +2.6% Same window
Abnormal move -3.8% Stock minus SPY
Volume 1.3× Versus trailing sessions
Subsequent drift +2.6% Up to 20 sessions
ELSSPY benchmark

Ask FN2 about ELS FY2025 Q1

Transcript, numbers and history already loaded

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

The latest analysis emphasizes recovery from hurricane-related occupancy losses, a 6% reduction in insurance premiums and continued strength in annual RV demand. Seasonal and transient RV activity remains soft, while management kept its full-year outlook unchanged.

Guidance delta

Management maintained full-year normalized FFO guidance at $3.06 per share.

Key takeaways

  • Management described solid quarter-over-quarter operating momentum and reaffirmed its full-year outlook.
  • Manufactured-home demand benefits from high homeowner occupancy and limited new supply.
  • Hurricane-related occupancy losses and softer seasonal RV demand remain the main offsets.

Management priorities

  • Rebuild hurricane-affected occupancy over the next two years.
  • Maintain approximately $90 million of annual capital spending.
  • Use annual RV-site promotions and digital lead generation to support demand.

Follow ELS with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

Earnings History

Estimate Beat Miss Match
ELS EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $0.65 Q2 '24 actual $0.66, match Q3 '24 estimate $0.72 Q3 '24 actual $0.72, match Q2 '25 estimate $0.41 Q2 '25 actual $0.69, beat Q3 '25 estimate $0.46 Q3 '25 actual $0.75, beat Q4 '25 estimate $0.54 Q4 '25 actual $0.79, beat Q1 '26 estimate $0.55 Q1 '26 actual $0.56, beat Q2 '26 estimate $0.43 Q2 '26 actual $0.50, beat Q3 '26 estimate $0.51 Q3 '26 actual $0.45, miss Q4 '26 estimate $0.54 Q1 '27 estimate $0.60 Q2 '27 estimate $0.50 Q3 '27 estimate $0.53
Show 2 more >

Analyst Consensus ?

ConsensusBuy22 ratings
Bullish1254.5%
Neutral1045.5%
Bearish00.0%

Analyst 52W Price Targets

$60.84Previous close
$59Low
$68.74Average
$77High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Baird Outperform OutperformMaintainOct 21, 2026
Wells Fargo Equal Weight Equal WeightMaintainOct 19, 2026
Barclays Equal Weight Equal WeightMaintainOct 14, 2026
RBC Capital Outperform OutperformMaintainOct 13, 2026
UBS Buy BuyMaintainOct 6, 2026
Mizuho Neutral OutperformDowngradeSep 21, 2026
Evercore ISI Group In Line In LineMaintainSep 21, 2026
Truist Securities Hold HoldMaintainSep 11, 2026
Morgan Stanley Equal Weight Equal WeightMaintainAug 12, 2026
BMO Capital Outperform OutperformMaintainFeb 18, 2026
Compass Point Buy NeutralUpgradeJul 22, 2025
Deutsche Bank Buy HoldUpgradeJan 21, 2025
Jefferies Buy HoldUpgradeJan 2, 2025
Wolfe Research Outperform Peer PerformUpgradeFeb 9, 2024
B of A Securities Neutral BuyDowngradeOct 23, 2023
Citigroup Neutral NeutralMaintainFeb 3, 2023
Colliers Securities Buy BuyMaintainMay 19, 2021
Berenberg Buy BuyMaintainOct 1, 2020
Bank of America Buy BuyMaintainSep 17, 2018
BB&T Capital Hold HoldMaintainNov 10, 2015
Imperial Capital Outperform OutperformMaintainApr 23, 2014
Cantor Fitzgerald Hold BuyDowngradeApr 12, 2013
Show less

Named analyst price targets

Upside is calculated against the persisted previous close $60.84. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Robert W. BairdAnalyst unavailable$71$61.97 +16.7%Oct 21, 2026
Wells FargoJames Feldman$64$61.21 +5.2%Oct 19, 2026
BarclaysJason Wayne$66$58.94 +8.5%Oct 14, 2026
Evercore ISIAnalyst unavailable$68$60.45 +11.8%Sep 21, 2026
Mizuho SecuritiesAnalyst unavailable$65$60.4 +6.8%Sep 21, 2026
UBSAnalyst unavailable$65$60.4 +6.8%Sep 21, 2026
Truist FinancialAnalyst unavailable$64$60.3 +5.2%Sep 11, 2026
BarclaysAnalyst unavailable$69$65.61 +13.4%Aug 17, 2026
Morgan StanleyAdam Kramer$59$64.05 -3.0%Aug 12, 2026
Odeon Capital Group LLCAnalyst unavailable$65$63.76 +6.8%Jul 9, 2026
Truist FinancialAnalyst unavailable$67$62.63 +10.1%May 5, 2026
Deutsche BankAnalyst unavailable$72$64.25 +18.3%Apr 15, 2026
BMO CapitalJohn Kim$75$67.43 +23.3%Feb 18, 2026
BarclaysAnalyst unavailable$71$65.56 +16.7%Feb 5, 2026
Robert W. BairdAnalyst unavailable$73$62.77 +20.0%Jan 30, 2026
Truist FinancialAnalyst unavailable$66$63.6 +8.5%Jan 20, 2026
Deutsche BankAnalyst unavailable$65$63.6 +6.8%Jan 20, 2026
BarclaysAnalyst unavailable$68$60.42 +11.8%Jan 13, 2026
UBSAnalyst unavailable$67$59.68 +10.1%Jan 8, 2026
RBC CapitalAnalyst unavailable$70$61.69 +15.1%Dec 8, 2025
Morgan StanleyAnalyst unavailable$62.5$60.89 +2.7%Sep 4, 2025
Truist FinancialAnalyst unavailable$68$58.6 +11.8%Jul 30, 2025
BMO CapitalAnalyst unavailable$77$63.69 +26.6%Apr 22, 2025
Robert W. BairdWesley Golladay$72$68.02 +18.3%Oct 22, 2024
JefferiesPeter Abramowitz$72$70.01 +18.3%Oct 17, 2024
RBC CapitalBrad Heffern$72$71.34 +18.3%Oct 1, 2024
Wells FargoJames Feldman$82$73.49 +34.8%Sep 19, 2024
Evercore ISISteve Sakwa$73$70.39 +20.0%Aug 28, 2024
Truist FinancialAnthony Hau$70$68.55 +15.1%Jul 30, 2024
BarclaysAnthony Powell$72$60.75 +18.3%Apr 26, 2024
Evercore ISISteve Sakwa$69$62.7 +13.4%Apr 23, 2024
BarclaysAnthony Powell$75$62.31 +23.3%Oct 7, 2022
Show less

Track every rating change on ELS the moment it posts. Free to start.

Start free

Company context

Snapshot as of publication

Based in Chicago, Equity LifeStyle Properties, Inc. operates as a self-managed Real Estate Investment Trust (REIT). As of January 25, 2021, its extensive portfolio includes 423 quality properties located across 33 U.S. states and British Columbia, collectively comprising 161,229 sites.

Historical context

All ELS earnings

Real Estate peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
RITM-PD Rithm Capital Corp. FY2026 Q3 · Calendar Q4 2026 +10.2% — Rithm highlights servicing, inflows and technology-led efficiency
CBRE CBRE Group, Inc. FY2026 Q3 · Calendar Q4 2026 +4.6% -2.5% CBRE: Infrastructure Growth Offsets Capital-Markets Headwinds

Latest beats and misses

Who reports next

Get the ELS recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-17T06:30:18.398486+00:00
  3. Polygon adjusted daily market bars · 2026-10-26T11:10:42.795617+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T11:10:42.792759+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.