MEDIUMBuilt-inGeographic
45.7%
Florida
“10-K Item 1A: 'most notably Florida, Northeast, California and Arizona, which comprised 45.7%, 11.1%, 10.2% and 10.9%, respectively, of our total property operating revenue'”
ELS · Concentration risk · 10-K extracted
Equity Lifestyle Properties, In (ELS) concentration risks
Updated
The most significant concentration Equity Lifestyle Properties, In discloses is Florida at 45.7%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Equity Lifestyle Properties, In’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH0
MEDIUM1
LOW3
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWBuilt-inGeographic
11.1%
Northeast
“10-K Item 1A: 'most notably Florida, Northeast, California and Arizona, which comprised 45.7%, 11.1%, 10.2% and 10.9%, respectively, of our total property operating revenue'”
LOWBuilt-inGeographic
10.9%
Arizona
“10-K Item 1A: 'most notably Florida, Northeast, California and Arizona, which comprised 45.7%, 11.1%, 10.2% and 10.9%, respectively, of our total property operating revenue'”
LOWBuilt-inGeographic
10.2%
California
“10-K Item 1A: 'most notably Florida, Northeast, California and Arizona, which comprised 45.7%, 11.1%, 10.2% and 10.9%, respectively, of our total property operating revenue'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is entirely geographic and structural in character, reflecting where its portfolio of communities is physically located. Florida is the largest disclosed market, representing 45.7% of total property operating revenue — a medium-share exposure by disclosed size that is the dominant single-state concentration in the portfolio. Three additional markets each contribute smaller shares: Arizona at 10.9%, the Northeast at 11.1%, and California at 10.2% of total property operating revenue — all low-share by disclosed size individually. Together, these four markets account for the bulk of disclosed revenue, though the portfolio spans additional states not individually broken out. The nature of these concentrations is structural: they reflect long-standing investment decisions around where the company has built or acquired communities, not reliance on a single tenant, customer, or counterparty whose decision to leave would create abrupt revenue loss. The main channels through which this geographic profile could affect results include state-specific property tax and regulatory environments, local real estate market dynamics, weather-related disruptions (particularly for Florida), and regional demand from the retiree and seasonal-resident demographic. There is no disclosed customer, product, or supplier concentration layered on top of this geographic tilt, so the profile is thematic rather than counterparty-specific.
For the engine’s reasoning on ELS’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · REIT - Residential
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AMH | American Homes 4 Rent | 2 | 0 | 0 | 2 |
| CPT | Camden Property Trust | 1 | 0 | 0 | 1 |
| ELS● | Equity Lifestyle Properties, In | 0 | 1 | 3 | 4 |
| EQR | Equity Residential | 0 | 1 | 0 | 1 |
| ESS | Essex Property Trust, Inc. | 0 | 1 | 0 | 1 |
| AVB | AvalonBay Communities, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.