REIT Equity LifeStyle's Q4 revenue misses estimates

Overview

• Real estate investment trust's Q4 revenue missed analysts' expectations

• Q4 EPS beat analyst expectations, net income also exceeded estimates

• Company announced 5.3% increase in annual dividend for 2026

Outlook

• Equity LifeStyle Properties expects 2026 full-year net income per share between $2.06 and $2.16

• Company projects 2026 full-year FFO per share between $3.12 and $3.22

• Equity LifeStyle Properties sees 2026 MH base rental income growth of 5.1% to 6.1%

Result Drivers

• CORE PORTFOLIO GROWTH - Core portfolio income from property operations grew by 4.8% for the year, exceeding long-term averages

• BASE RENTAL INCOME - MH base rental income increased by 5.5% and RV and marina base rental income rose by 4.1% for the year

• EXPANSION SITES - Added 362 expansion sites during 2025, contributing to income growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the residential reits peer group is "buy"

• Wall Street's median 12-month price target for Equity LifeStyle Properties Inc is $68.00, about 9.8% above its January 28 closing price of $61.92

• The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 30 three months ago

Press Release: ID:nPnbPjBQka

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