Equity Lifestyle Properties is one of the oldest REITs in the US. It specializes in two important sub-sectors, manufactured home communities and RV campgrounds and resorts. We believe that the cost advantages of manufactured homes make them an attractive prospect, and their demand is poised to grow into the future. We also believe that the pandemic may have changed certain travel habits of Americans. The historical event may leave a long-standing impact on the leisure industry. People may prefer to travel solo or with their families to outdoor locations or to destinations where they do not come into regular contact with other travelers. RV campgrounds fit the bill, and it could see bright business prospects in the near-to-middle term. If you are searching for the best REIT stock 2021, then Equity Lifestyle Properties may be a potential candidate.
Equity Lifestyle Properties Reports Q12021 Earnings
Equity Lifestyle Properties reported its first-quarter 2021 earnings results on 20th April 2021. Revenues rose from $280.4 million in Q12020 to $296 million. Earnings per share on a diluted basis dropped slightly from $0.37 in Q12020 to $0.36. The normalized funds from operations increased from $113 million in Q12020 to $122 million in Q12021.
Chief Executive Officer Marguerite Nader said that growth in the RV and MH business were the major contributors to the first quarter’s positive results. She also revealed that new home sales were up 24%, and the quality of occupancy at the company’s MH communities was high quality. The core portfolio occupancy level for Equity Lifestyle touched 95.4% during the first quarter of 2021. The digital business also did well with websites generating 37% more home sale leads.
Equity Lifestyle Properties continues to be regarded as one of the REIT stocks to invest in for the future.
Best REIT Stock 2021
Equity Lifestyle Properties has seen significant growth in its stock price. Listed under the symbol ELS, the stock closed slightly above $70 on 28th May 2021. The stock has risen from around $10 back in 2009-2010 to over $70 in about a decade.
