Morningstar
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Oct 22, 2026
Equity LifeStyle Properties, Inc.: Equity Lifestyle Earnings: Revenue Growth Remains Above 5% While Operating Expenses Only Up 1%
Summary
Equity Lifestyle Properties is a residential REIT that focuses on owning manufactured housing, residential vehicle communities, and marinas. The company has a portfolio of 453 properties across the US with a higher concentration in the Sun Belt; 38% of its properties are in
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Analyst Profile
Kevin Brown
Equity Analyst
Kevin Brown is an equity analyst on the finance team for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers apartment, healthcare, and hotel REITs and real estate service companies in the United States.Before joining Morningstar in 2018, Brown worked at an asset-management company focused on global real estate, spending nine years covering healthcare and hotel REITs.Brown holds a bachelor’s degree in economics from Dartmouth College. He also holds the Chartered Financial Analyst® designation.
