Equity LifeStyle Properties, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on October 27, 2026.

Key Highlights

  • Total revenues for Q3 2026: $409,903 thousand, up from $393,314 thousand in Q3 2025, according to the filing.
  • Consolidated net income for Q3 2026: $89,250 thousand, compared with $100,363 thousand in the same quarter a year earlier.
  • Nine-month net income: $300,259 thousand for the nine months ended September 30, 2026, versus $298,249 thousand for the same period in 2025.
  • Earnings per Common Share (basic and fully diluted) for Q3 2026: $0.45, down from $0.50 in Q3 2025.
  • Total assets as of September 30, 2026: $5,765,006 thousand, compared with $5,745,393 thousand as of December 31, 2025.
  • Shares outstanding as of October 21, 2026: 194,785,616 shares of Common Stock.
  • Income tax expense for Q3 2026: $12,065 thousand, compared with a benefit of $518 thousand in Q3 2025.

Equity LifeStyle Properties Reports Q3 2026 Financial Position and Operating Results

Equity LifeStyle Properties, Inc. (NYSE:ELS), a Maryland real estate investment trust headquartered in Chicago, Illinois, reported total revenues of $409,903 thousand for the quarter ended September 30, 2026, according to the filing. Rental income, the largest revenue component, rose to $344,305 thousand in Q3 2026 from $327,437 thousand in Q3 2025. Annual membership subscriptions contributed $19,509 thousand in the quarter, up from $17,868 thousand a year earlier. For the nine months ended September 30, 2026, total revenues reached $1,205,340 thousand, compared with $1,157,514 thousand for the same period in 2025.

Consolidated net income for Q3 2026 was $89,250 thousand, a decrease from $100,363 thousand reported in Q3 2025. The filing attributes part of this change to an income tax expense of $12,065 thousand in Q3 2026, compared with a tax benefit of $518 thousand in the prior-year quarter. Net income available for Common Stockholders for Q3 2026 was $86,425 thousand, or $0.45 per share on both a basic and fully diluted basis. Total expenses for the quarter were $309,242 thousand, including depreciation and amortization of $54,898 thousand and interest and related amortization of $34,607 thousand.

On the balance sheet as of September 30, 2026, the company reported total assets of $5,765,006 thousand, with net investment in real estate of $5,488,353 thousand. Total liabilities stood at $3,958,865 thousand, including mortgage notes payable, net, of $2,731,331 thousand and an unsecured line of credit balance of $138,000 thousand. Total equity was $1,806,141 thousand. For the nine months ended September 30, 2026, casualty-related charges/(recoveries), net, reflected a recovery of $(6,781) thousand, compared with a recovery of $(4,072) thousand in the same period of 2025.

What Was Disclosed

Equity LifeStyle Properties filed its unaudited quarterly report covering the period ended September 30, 2026, disclosing consolidated income statements, balance sheets, statements of changes in equity, and cash flow statements, along with management's discussion and analysis.