Equity LifeStyle Properties stock reports 6.5 percent NOI growth

Published on 09/29/2026 at 13:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Equity LifeStyle Properties stock delivered USD 0.74 in normalized FFO per share in Q2 2026 and lifted full-year guidance. Mizuho cut its target to USD 65.00.

ELS, US29472R1086, Illustration mit AI erstellt.

Equity LifeStyle Properties (ISIN US29472R1086) was trading at EUR 52.00 at Lang & Schwarz on September 29, 2026 at 1:37 p.m. CEST, up 0.48 percent versus the prior close of EUR 51.75. The latest operating update showed 6.5 percent second-quarter NOI growth and 7.7 percent growth in normalized FFO per share.

NOI growth leads the results

In the second quarter of 2026, normalized FFO reached USD 0.74 per share, while core community-based rental income increased 5.8 percent from the same period in 2025. According to Yahoo Finance on July 23, 2026, management said NOI growth was 120 basis points above its guidance for the quarter.

Occupancy in the manufactured housing portfolio stood at 94 percent in the second quarter, and occupied sites increased by 67 during the first six months of 2026. The company also reported 5.8 percent rate growth from renewing residents and new residents after turnover, supporting the recurring-income profile of the portfolio.

Guidance points to steady growth

Equity LifeStyle Properties guided to full-year 2026 normalized FFO of USD 3.13-3.23 per share, with a midpoint of USD 3.18. The company projected core portfolio property operating income growth of 5.5-6.5 percent and core revenue growth of 3.9-4.9 percent for the year, according to Yahoo Finance.

The main counter-factor is the RV and marina business, where seasonal and transient rent came in below guidance during the quarter. Management reduced its fourth-quarter transient growth assumption to zero percent year over year, while continuing to expect annual RV and marina rent growth.

Mizuho lowers its price target

MarketScreener reported on September 21, 2026 that Mizuho downgraded Equity LifeStyle Properties from Outperform to Neutral and cut its price target from USD 72.00 to USD 65.00. The target change places the new target below the consensus target of USD 67.88 cited by MarketBeat on September 28, 2026, while the operating figures still show rental growth and higher normalized FFO.

StockAnalysis identifies Equity LifeStyle Properties as a residential REIT listed on the NYSE under ticker ELS and confirms the ISIN US29472R1086. The company owned or held interests in 453 properties with 173,419 sites as of June 30, 2026, according to StockAnalysis.

Stock remains near its yearly low

On the NYSE, ELS was last at USD 59.08 on September 28, 2026 at 4:00 p.m. EDT. Its 52-week range was USD 58.70-69.00, placing the primary-exchange quote USD 0.38 above the yearly low, while the Lang & Schwarz reference price remained EUR 52.00 in intraday trading.