How do you interpret operating segments — owned property management costs?

A decrease relative to revenue suggests improved operational efficiency, while an increase may signal rising labor or maintenance costs.

How does operating segments — owned property management costs compare across companies?

Comparable to 'Property Operating Expenses' or 'Property Management Expenses' in standard REIT financial disclosures.

Equity Lifestyle Properties ELS Operating Segments — Owned Property Management Costs

Discontinued — last reported Q2 '16

Similar metrics at other companies

LADROperating Segments — Real Estate Operating Expenses

$8.82M+18.3%

ABROperating Segments — Property Operating Expense

$2.58M-8.4%

MIT

MITTOperating Segments — Cost Of Property Repairs And Maintenance

$1.84M—

MIT

MITTCorporate — Owned Property Management Costs

$0—

MIT

MITTSecurities And Loans — Owned Property Management Costs

$0—

PEA

PEAKOperating Segments — Operating Expenses

——

Other financials

Income statement

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Revenue$397.6M+2.7%

Operating income$112.4M+2.6%

Net income$111.5M-2.5%

EPS (diluted)$0.56-1.8%

Balance sheet

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Cash & equivalents$39.2M-17.4%

Total debt$24.0M-11.6%

Total equity$1.8B+0.7%

Total assets$5.7B+1.9%

Cash flow

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Operating cash flow$194.2M+0.4%

CapEx$45.3M+0.2%

Free cash flow$148.9M+0.5%

Valuation

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Market cap$12.06B-5.1%

P/E30.2×-2.9×

P/S7.8×-0.5×

Profitability

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Operating margin25.6%+1.0pp

Net margin25.9%+0.7pp

FCF margin21.7%-1.8pp

Returns & leverage

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Return on equity22.7%-1.3pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Equity Lifestyle Properties in its filing.

Tagged under the XBRL concept us-gaap:OwnedPropertyManagementCosts.

The official record: Equity Lifestyle Properties’s 10-Q, filed July 27, 2016, on SEC EDGAR. View the filing →

Questions, answered.

What does operating segments — owned property management costs mean?: The total direct expenses incurred to manage and maintain the company's owned properties.
How do you interpret operating segments — owned property management costs?: A decrease relative to revenue suggests improved operational efficiency, while an increase may signal rising labor or maintenance costs.
How does operating segments — owned property management costs compare across companies?: Comparable to 'Property Operating Expenses' or 'Property Management Expenses' in standard REIT financial disclosures.