What does property operations — capital improvements (1) mean?

The amount spent on major upgrades and improvements to existing properties.

How do you interpret property operations — capital improvements (1)?

An increase signals a commitment to asset quality and growth, while a decrease may indicate capital preservation or a lack of investment opportunities.

How does property operations — capital improvements (1) compare across companies?

Standard 'Capital Expenditures' or 'CapEx' in real estate and infrastructure sectors.

Equity Lifestyle Properties ELS Property Operations — Capital improvements (1)

Discontinued — last reported Q4 '22

Similar metrics at other companies

PSACapital Expenditures For Property Enhancements

$9.79M+25.8%

LADRReal Estate — Payments for Capital Improvements

$700K-22.2%

EQRPayments For Capital Expenditures To Real Estate

$62M+0.1%

AVBEstablished Communities — Real estate capitalized additions

$126.55M-1.4%

PEA

PEAKSenior Housing Operating Portfolio — Costs Capitalized Subsequent to Acquisition

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PEA

PEAKSenior Housing — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition

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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:PropertyPlantAndEquipmentGross.

The official record: Equity Lifestyle Properties’s 10-K/A, filed January 22, 2024, on SEC EDGAR. View the filing →

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Questions, answered.

What is Equity Lifestyle Properties's property operations — capital improvements (1)?: Equity Lifestyle Properties (ELS) reported property operations — capital improvements (1) of $227.17M in Q4 2022.
What does property operations — capital improvements (1) mean?: The amount spent on major upgrades and improvements to existing properties.
How do you interpret property operations — capital improvements (1)?: An increase signals a commitment to asset quality and growth, while a decrease may indicate capital preservation or a lack of investment opportunities.
How does property operations — capital improvements (1) compare across companies?: Standard 'Capital Expenditures' or 'CapEx' in real estate and infrastructure sectors.