Equity Lifestyle Properties, Inc. · NYSE:ELS
Equity Lifestyle Properties — Investor Presentation (May 2018)
16 slides from Equity Lifestyle Properties's investor presentation, May 15, 2018
Slide 1: Equity LifeStyle Properties
Equity LifeStyle Properties
Slide 2: Our Story
Our Story One of the nation’s largest real estate networks with 409 properties containing 152,658 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 propert
Slide 3: Property Locations
Property Locations4 3 2WA ME NDMN4 MT 3 OR VTWI NYWY 4 MI NH ID 4 CA SD 2 2 3 MANV 3 RI7 NE IA 5 PA 6 6 6 IN OHUT CO IL 6 NJ9 2 216 WV DE4 7 KSAZ MO KY VA11 NM NC 4 TN6 26 OK AR6 SCMSTX AL GA LAFL 9618 12 4216 9 1410 122
Slide 4: Steady, Predictable Revenue Streams
Steady,Predictable Revenue Streams Property OperatingRevenue Buckets(2)Property/Site composition(1) Transient 5.9% 207 manufactured/resort Seasonal 4.1% home communities u73,500 sites AnnualRight to Use 191 RV resorts 6.5% u76,800 sites – Annuals 29,300 Annual RV – Seasonal 11,700 15.9% – Transient
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 customersRV Resort Cot
Slide 6: Favorable Customer Demographics
Favorable Customer Demographics The population of people age 55 and older is expected to grow 22% from 2018 to 2033 Roughly 10,000 Baby Boomers will turn 65 every day through 2030U.S. Population Over Age 55 (in millions)12010080 New Residents60 MH uAverage age: 59 years RV u Average age: 55 years402
Slide 7: Track Record
Track Record 400350 300 250 200 150Item IPO Year—1993 2018 10050 0Properties 41 409-50Sites 12,312 152,658 -100States 16 32 4/30/08 4/30/09 4/30/10 4/30/11 4/30/12 4/30/13 4/30/14 4/30/15 4/30/16 4/30/17 4/30/18Net Income Per Share (1) $0.35 $2.42ELS (+362%) S&P 500 (+137%) SNL US REIT Equity (+92%)
Slide 8: Consistent Same Store NOI Growth and Outperformance
Consistent Same Store10%NOI Growth and 9% Outperformance 8%7%ELS6% 4. Average 0%5%4% ApartmentsELS has maintained 3% 3. Average 2% positive same store 2%Industry1%NOI growth in all Average quarters since 0% 3.1%-1%at least Q3 1998. -2%-3% -4% -5% -6% -7% -8%98 99 99 000001 01 02 02 03 03 04 04 05 05
Slide 9: Development – 2018 Construction Projects
Development – 2018 Construction Projects8
Slide 10: Capital Structure
Capital StructureAs of April 30, 2018 (in millions)Loan Maturity as of March 31, 2018 Total enterprise value is $10.7 billion $400,000 Debt to enterprise value is 21.2% $350,000 $390 million available line of credit $300,000Thousands) $250,000 (in OPU’s $519.6, 4.8% Debt $200,000Term Loan $198.8, 1.
Slide 11: Dividend
DividendDividend per Share$2.50 2018—$2.20/share(1)$1.00 g $2.20(1) u13% increase $2.00 u8% FFO growth$1.50 Dividend growth$1.00 u5 year CAGR(2) uELS 17% $0.50(3) uREIT Average 6%$0.00 Tax treatment of dividend 2013 2014 2015 2016 2017 2018(4) ELS REIT average (5) u70% Ordinary Income u70% Ordinary
Slide 12: Free Cash Flow
Free Cash Flow$332(amounts in millions) $350 $303 $66 Consistent positive $300 $261 $68 free cash flow 1 $250 $51 $44 Excess cash flow can $40Operations $36 $40 be used for acquisitions, $200 working capital and from $38 development $37Funds $150 $100 $182$157 $137$5002015 2016 2017Free Cash Flow Re
Slide 13: Performance Update
Performance Update 202 Manufactured Home Communities(1) 190 RV Resorts(1) uCore(2) occupancy of 94.5% as of 4/30/18 uCore resort base rental income growth for the month ended uCore occupancy has grown 34 consecutive 4/30/18 is 7.3%(3) quarters through 3/31/18 uCore rental income growth from uCore co
Slide 14: Safe Harbor Statement
Safe Harbor StatementUnder 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 2017 Annual Report on Form 10-K and our Quarterly Re
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial MeasuresThis 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 these non-GAAP measures, along with GAAP net income and cash flow
Slide 16: Equity LifeStyle Properties
EquityLifeStylePropertiesTwo North Riverside Plaza, Chicago, Illinois 60606 800.247.5279 | EquityLifeStyleProperties.com5/18
Equity LifeStyle Properties — Investor Presentation (May 2018) on 6ix