Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.76, read 2026-11-07
Ethical does not pass the values gate
Price62.95 USD
Fair value49.02
Ethical score70.0/100
Value readOvervaluedas of 6 Nov 2026
Our investment reviews on this name
2026-10-27Read Markup60.84+3.5% to today ✓Markdown gives way to Markup
2026-10-02Read Markdown60.44+4.2% to today Accumulation gives way to Markdown after a 7% slide in 5 weeks
2026-08-27Read Accumulation65.01-3.2% to today Markdown gives way to Accumulation
2026-07-02Read Markdown64.83-2.9% to today ✓First review on file: Markdown
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Equity Lifestyle Properties Inc holds its Markup at $62.95. Consolidating, no directional conviction, held for 7 days.
As held on the ledger · 2026-11-06
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 7 days
Price at the screen
$62.95
Valuation
31.16 trailing · 28.65 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.61
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
57.81%
Below 33%
Interest-bearing debt is 57.8% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
2.08%
Below 49%
Money owed to the company is 2.1% of assets, under the 49% limit.
Pass
Revenue purity
0.66%
Below 5%
Only 0.7% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Equity Lifestyle Properties's business is in a permissible area, but its interest-bearing debt is about 58% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
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Today ELS does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Overvalued vs our fair value, as of 6 Nov 2026: it trades above our $49.02 fair value estimate, narrow competitive moat, 4.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. The price runs 28.4% above the base estimate.
Third-party analyst targets: 19 covering, consensus Buy. The average target sits +6% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $49.02, with a range of $49.02 to $56.37, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Manufactured home rents meet a steep asking price
Families park their homes on leased plots across dozens of states and the cash keeps coming in month after month. Equity Lifestyle Properties owns the ground beneath them, yet the shares sit 24 percent above our fair value with revenue barely growing and a forward multiple of 30 times earnings.
We pass. A narrow moat, 1 percent top-line growth and 25 percent margins do not justify paying up when the market already prices in perfection and hands the stock a buy rating with a $70 median target.
Interest-rate swings and rising site costs remain the real threats, and a narrow moat offers little protection if occupancy slips. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ELS trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-03Markup$59.03-3.0%Entry 16
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 3.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70.
2026-10-27Markup · changed$60.84+3.2%Entry 15
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70.
2026-10-20Markdown$58.94+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Markdown$58.94+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$58.94+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Markdown$58.94+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Markdown$58.94-0.1%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$59.01+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-14Markdown$59.01+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-13Markdown$59.01-2.4%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 0% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (18 analysts) rates it buy, with a mean price target of $70. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
