Equity LifeStyle Properties, Inc. (ELS) Presents at BofA NY Global Real Estate Conference 2026 Transcript

SA Transcripts 162.21K Followers Follow Equity LifeStyle Properties, Inc. ( ELS ) BofA NY Global Real Estate Conference 2026 September 15, 2026 1:30 PM EDT Company Participants Marguerite Nader - CEO & Non-Independent Vice Chairman Patrick Waite - President & COO Paul Seavey - Executive VP & CFO Conference Call Participants Jana Galan - BofA Securities, Research Division Jeffrey Spector - BofA Securities, Research Division Presentation Jana Galan BofA Securities, Research Division Good afternoon. Welcome to Bank of America's 2026 Global Real Estate Conference. I'm Jana Galan, BofA's residential REIT analyst. We're pleased to have with us Equity LifeStyle's CEO, Marguerite Nader; President and COO, Patrick Waite; CFO, Paul Seavey. Marguerite will start with a few opening remarks, and then we can jump into Q&A. Marguerite Nader CEO & Non-Independent Vice Chairman Sure. Thank you very much, Jana. Thank you for the opportunity to present today. So at this conference, we've been focused on a couple of highlights that are in our investor presentation. One on Page 5, our performance update, which shows that we're tracking in line with our guidance for the quarter and for the year. And Page 4 of our presentation shows our core NOI and normalized FFO, both significantly outpacing the REIT industry average. We think that's important to highlight and continue to show you that as it grows. And then Page 6 of our presentation shows that ELS significantly outpaces the REIT industry in normalized FFO growth, dividend growth and exposure to floating rate debt. So those are some of the key items that we're talking about and making sure that investors are focused on during this conference. Question-and-Answer Session Jana Galan BofA Securities, Research Division Great. Maybe starting very big picture. How do you view the long-term demand outlook for manufactured housing given the ongoing affordability challenges and then also the demographic tailwinds for your portfolio?