Equity Lifestyle Properties, Inc. · NYSE:ELS
Equity Lifestyle Properties — Investor Presentation (November 2016)
15 slides from Equity Lifestyle Properties's investor presentation, Nov 9, 2016
Slide 1: Equity LifeStyle Properties ELS
Equity LifeStyle Properties ELS
Slide 2: Our Story
Our Story • One of the nation’s largest real estate networks with 391 properties containing 146,457 sites in 32 states and British Columbia • Unique business model Own the land Low maintenance costs/customer turnover costs Lease developed sites • High-quality real estate locations More than 80 prope
Slide 3: Property Locations
Property Locations 4 3 2 WA OR CA 7 16 4 11 6 ND MT 4 ID NV 7 AZ 26 6 MN 4 SD WY UT CO 9 NM WI 4 2 2 IA KS OK TX 10 MI 3 IN 5 IL MO AR LA NE NY PA 3 6 6 OH KY TN MS WV 2 2 VA NC 4 SC AL GA FL 6 8 18 11 37 15 4 14 9 ME VT 3 NH MA RI CT 6 NJ 6 DE MD 2 ELS
Slide 4: Steady, Predictable Revenue Streams
Steady, Predictable Revenue Streams Property/Site composition • 203 home manufactured/resort communities 72,500 sites • 188 RV resorts 74,000 sites Annuals 27,300 Seasonal 11,600 Transient 11,000 Membership sites 24,100 Property Operating Revenue Buckets (1) Transient 5.5% Seasonal 3.8% Annual Right
Slide 5: Our Lifestyle Options
Our Lifestyle Options • Customers own the units they place on our sites Manufactured homes Resort cottages (park models) Recreational vehicles • We offer a lifestyle and a variety of product options to meet our customers’ needs • We seek to create long-term relationships with our customers Manufactu
Slide 6: Favorable Customer Demographics
Favorable Customer Demographics • The population of people age 55 and older is expected to grow 26% from 2016 to 2031 • Roughly 10,000 Baby Boomers will turn 65 every day through 2030 U.S. Population Over Age 55 (in thousands) 120,000 100,000 80,000 60,000 40,000 20,000 0 2016 2021 2026 2031 Sum of
Slide 7: Track Record
Track Record Item IPO Year - 1993 2016 Properties 41 391 Sites 12,312 146,457 States 16 32 Net Income Per Share $0.35 $1.94 FFO Per Share (1) $0.47 $3.28 Normalized FFO Per Share (1) $0.47 $3.29 Common Stock Price (2) $6.44 $75.84 Enterprise Value (3) $296 million $9.3 billion Dividend Paid Cumulati
Slide 8: Consistent Same Store NOI Growth and Outperformance
Consistent Same Store NOI Growth and Outperformance ELS has maintained positive same store NOI growth in all quarters since at least Q3 1998. REIT Industry Apartments ELS 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% -1% -2% -3% -4% -5% -6% -7% -8% ELS Average 3.9% Apartments Average 3.2% Industry Average 3.0%
Slide 9: Comparison of ELS to Multifamily
Comparison of ELS to Multifamily ELS compounded Same Store NOI growth rates significantly outperformed the REIT Multifamily industry since 1999. Same Store NOI Indexed Growth (1) 200 190 180 170 160 150 140 130 120 110 100 199819992000200120022003200420052006200720082009201020112012201320142015 ELS(
Slide 10: Capital Structure
Capital Structure As of October 31, 2016 (in millions) Total enterprise value is $9.3 billion Debt to enterprise value is 22.7% $400 million available line of credit OPU’S $546.3, 5.9% Term Loan(2) $199.3, 2.2% Preferred $136.1,1.4% Mortgage Debt(2) $1,903.7 20.6% Common(1) $6,469.5 69.9% Debt Matur
Slide 11: Performance Update
Performance Update 199 Manufactured Home Communities(1) Core(2) occupancy of 94% as of 10/31/2016 Core occupancy has grown 28 consecutive quarters through 09/30/2016 Core community base rental income growth for the month ended 10/31/2016 is 4.6%(3) 187 RV Resorts(1) Core resort base rental income gr
Slide 12: 2017 Guidance — Non-GAAP Financial Measures
2017 Guidance — Non-GAAP Financial Measures(1) Normalized FFO of $325.8 million 7.2% growth $3.45 - $3.55 per fully diluted share Core NOI growth of 4.4% Core MH rent growth of 4.0% Core RV revenue growth of 4.4% 2017 Dividend $1.95 per share 15% increase over 2016 50% increase in last three years N
Slide 13: Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The forward-looking statements contained in this presentation are subject to certain economic risks and uncertainties described under the heading “Risk Factors” in our 2015 Annual Report on Form 10-K and our Quarterly
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures This document contains certain non-GAAP measures used by management that we believe are helpful in understanding our business, as further discussed in the paragraphs below. We believe investors should review Funds from Operations (“FFO”), and Normalized Funds from Operati
Slide 15: Equity LifeStyle Properties
Equity LifeStyle Properties Two North Riverside Plaza, Chicago, Illinois 60606 800-247-5279 | www.EquityLifeStyle.com
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