Equity LifeStyle Properties Rides a Rising Tide of Demand

·4 min read

Summertime is high season for getaways, and despite -- or maybe because of -- the continuing pandemic, it proved to be a hot three months for a real estate investment trust (REIT) that specializes in cottages, cabins, recreational vehicles, and manufactured home communities. "The third quarter represents our most active camping season, and our results show the demand for our product offerings," Marguerite Nader, president and CEO of Equity LifeStyle Properties (NYSE: ELS), said in the company's 3Q20 earnings call on Oct. 19. Nader pointed to that important REIT metric in the earnings call, touting normalized FFO growth of 18% compared with 3Q20 and 21% compared to pre-pandemic 3Q19.

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