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Equity Lifestyle Properties Inc
Equity Lifestyle Properties (ELS) is a publicly-traded Real Estate Investment Trust (REIT) that specializes in the ownership, operation, acquisition, and development of manufactured home communities and recreational vehicle (RV) resorts. The company's portfolio is comprised of over 400 properties in 32 states and British Columbia, Canada.
One key metric to consider when evaluating a company is its earnings, which is the bottom line of a company's income statement. ELS has a history of steady earnings growth. For the past 5 years, the company has consistently reported an increase in earnings, with a 5-year EPS growth rate of 8.5%. The company's most recent earnings report, for Q4 2020, showed a YoY increase in earnings of 15.3%
Another important metric for REITs is Funds From Operations (FFO) which gives a better picture of a REIT's operating performance than net income. ELS has also shown a steady growth in FFO over the past 5 years, with a 5-year FFO growth rate of 5.6%.
In terms of dividend, ELS has a strong track record of paying dividends, which is an important factor for income-focused investors. The company has increased its dividend for 9 consecutive years and currently has a dividend yield of 2.7%.
In addition, ELS has a diversified revenue stream and a large and growing customer base. The company's properties are located in diverse and attractive markets, and ELS has a strategy of upgrading and renovating its communities to maintain high occupancy and rental rates.
It is worth noting that while ELS has a strong track record, like any company, it is subject to risks and uncertainties, including those related to the COVID-19 pandemic and its impact on the economy and the company's operations.
Overall, Equity Lifestyle Properties has a strong financial profile, a history of earnings and FFO growth, a strong dividend track record, and a diversified revenue stream. These factors, along with the company's focus on the growing and recession-resistant manufactured housing and RV resorts industry make it an attractive investment option for income-focused investors.