Equity Lifestyle Properties, Inc. · NYSE:ELS
Equity Lifestyle Properties — Investor Presentation (November 2017)
14 slides from Equity Lifestyle Properties's investor presentation, Nov 9, 2017
Slide 1: Equity LifeStyle Properties
Equity LifeStyle Properties
Slide 2: Our Story
Our Story • One of the nation’s largest real estate networks with 404 properties containing 149,448 sites in 32 states and British Columbia • Unique business model uOwn the land uLow maintenance costs/customer turnover costs uLease developed sites • High-quality real estate locations uMore than 90 p
Slide 3: Property Locations
Property Locations 4 3 2 WA ME ND MN 4 MT 3 OR VT WI NY WY 4 MI NH ID 4 CA SD 2 2 3 MA NV 3 RI 7 NE IA 5 PA 6 6 6 IN OH UT CO IL 6 NJ 9 2 2 16 WV DE 4 7 KS AZ MO KY VA 11 NM NC 4 TN 6 26 OK AR 6 SC MS TX AL GA LA FL 9 6 18 12 39 16 9 14 10 12 2
Slide 4: Steady, Predictable Revenue Streams
Steady,Predictable Revenue Streams Property Operating Revenue Buckets(2) Property/Site Composition(1) Transient 5.7% • 205 manufactured/resort home communities Seasonal 4.1% u73,000 sites Right Annual to Use • 188 RV resorts 6.8% u74,000 sites uAnnuals 27,300 Annual RV uSeasonal 11,600 15.3% uTransi
Slide 5: Our Lifestyle Options
Our Lifestyle Options • Customers own the units they place on our sites uManufactured homes uResort cottages (park models) uRecreational 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 RV Sit
Slide 6: Favorable Customer Demographics
Favorable Customer Demographics • The population of people age 55 and older is expected to grow 24% from 2017 to 2032 • Roughly 10,000 Baby Boomers will turn 65 every day through 2030 U.S. Population Over Age 55 (in millions) 120 100 80 New Residents 60 MH uAverage age: 59 years RV u Average age: 55
Slide 7: Track Record
Track Record 10-Year Total Return Performance 400 350 300 250 200 IPO Year—1993 2017 150 Item 100 50 Properties 41 404 0 -50 Sites 12,312 149,448 -100 States 16 32 10/31/07 10/31/08 10/31/09 10/31/10 10/31/11 10/31/12 10/31/13 10/31/14 10/31/15 10/31/16 10/31/17 Net Income Per Share (1) $0.35 $2.16
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. Note: (1) Source for Same Store NOI data: Citi Investment Research, August 2017. Earliest quarter collected by Citi is third quarter of 1998. “REIT Industry”
Slide 9: Dividend
Dividend Dividend Per Share $2.50 • 2018—$2.20/share(1) $1.00 g $2.20(1) $2.00 u13% increase u8% FFO growth $1.50 • Dividend growth $1.00 u5 year CAGR (2) uELS 17% $0.50 (3) uREIT Average 7% $0.00 (4) 2013 2014 2015 2016 2017 2018 • Tax treatment of dividend ELS REIT average u89% Ordinary Income u68
Slide 10: Capital Structure
Capital Structure As of October 31, 2017 (in millions) Loan Maturity as of October 31, 2017 $400,000 • Total enterprise value is $10.5 billion $350,000 • Debt to enterprise value is 21.0% Thousands) $300,000 • $400 million available line of credit(in $250,000 Debt $200,000 OPU’s $516.3, 4.9% Term Lo
Slide 11: Performance Update
Performance Update • 200 Manufactured Home Communities(1) • 187 RV Resorts (1) uCore(2) occupancy of 94% as of 10/31/2017 uCore resort base rental income growth for the month ended 10/31/2017 is 4.5%(3) uCore occupancy has grown 32 consecutive quarters through 09/30/2017 uCore rental income growth f
Slide 12: Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: “Risk The forward-looking Factors” in our statements 2016 Annual contained Report on in Form this presentation 10-K and our are Quarterly subject to Report certain on economic Form 10-Q risks for and the quarter uncert
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures This the paragraphs document contains below. We certain believe non-GAAP investors measures should review used these by management non-GAAP that measures, we believe along are with helpful GAAP in understanding net income and our cash business, flow from as further operat
Slide 14: Equity LifeStyle Properties
Equity LifeStyle Properties Two North Riverside Plaza, Chicago, Illinois 60606 800.247.5279 | EquityLifeStyleProperties.com 11/17
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