Equity LifeStyle Properties Inc – Residential Stock Today
Sam Zell is one of the most famous real estate investors in the US. He is the son of Polish immigrants who came to the US. Zell’s actual last name is Zielonka. His parents changed their first and last names to make them sound more simple and easy to pronounce. Sam Zell has built a portfolio of properties and is estimated to be worth over $4 billion. Among his holdings is Equity LifeStyle Properties, a REIT that focuses on manufactured homes and resort communities. Many investors had feared the worst for the real estate industry when the pandemic was breaking out. However, 18 months on, the real estate industry is in a strong uptrend. Home prices have been pushing higher, sales activity is at a high, and interest rates are at historically low levels. There are fears of rising inflation too. Therefore, investing in residential stock now could be a step that you might want to consider.
Equity LifeStyle Properties Business Information
Sam Zell is based in Chicago, Illinois. Equity LifeStyle Properties is also based in the windy city. The REIT currently has a market capitalization in excess of $16 billion. Equity LifeStyle usually owns the land on which it lets customers place manufactured factory-built homes. Equity LifeStyle also owns marinas where it allows boat slip and dry storage for rent. Equity LifeStyle stands to benefit from any reverse migration involving people moving away from urban centers to suburban locations as a result of the pandemic. Equity LifeStyle’s business model attempts to minimize maintenance and customer turnover costs. Equity LifeStyle’s portfolio consists of 422 properties spread across 33 US states as well as Canada. If you are looking for residential stock today, then Equity LifeStyle Properties is certainly a candidate worth exploring further.
Equity LifeStyle Properties’ stock closed at $88.13 on 3rd September 2021. Equity LifeStyle Properties trades under the ticker symbol “ELS” on the New York Stock Exchange. The dividend yield as of 3rd September 2021 was 1.65%.