AMT vs. ELS: American Tower vs. Equity LifeStyle Properties Stock Comparison
How do American Tower (AMT) and Equity LifeStyle Properties (ELS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
American Tower (AMT) and Equity LifeStyle Properties (ELS) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but AMT is classified in Specialized REITs while ELS is classified in Residential REITs.
Both American Tower (AMT) and Equity LifeStyle Properties (ELS) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.
| Profile Item | AMT | ELS |
|---|---|---|
| Name | American Tower Corporation | Equity LifeStyle Properties, Inc. |
| Country/Region | United States | United States |
| GICS Sector | Real Estate | Real Estate |
| GICS Industry Group | Equity Real Estate Investment Trusts (REITs) | Equity Real Estate Investment Trusts (REITs) |
| GICS Industry | Specialized REITs | Residential REITs |
| GICS Sub-Industry | Telecom Tower REITs | Single-Family Residential REITs |
| Market Capitalization | 87.55 billion USD | 12.67 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | February 27, 1998 | February 25, 1993 |
| Security Type | REIT | REIT |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | AMT | ELS |
|---|---|---|
| Total Return (1Y) | 11.16% | 4.40% |
| Total Return (3Y, Annualized) | 5.13% | 1.94% |
| Total Return (5Y, Annualized) | -4.39% | -3.06% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | AMT | ELS |
|---|---|---|
| Volatility (1Y, Annualized) | 28.50% | 19.05% |
| Beta (5Y) | 0.83 | 0.57 |
| Max Drawdown (5Y) | -43.81% | -32.51% |
| Avg. Volume (3M) | 2.79M | 1.77M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | AMT | ELS |
|---|---|---|
| Sharpe Ratio (1Y) | 0.24 | 0.01 |
| Sortino Ratio (1Y) | 0.37 | 0.01 |
Profitability
ROE (TTM)
Both companies show strong equity returns, but American Tower (AMT) at 32.96% is the standout with ROE above its industry range; Equity LifeStyle Properties (ELS) at 22.34% also sits in the top quartile.
AMT
Equity Real Estate Investment Trusts (REITs) industry group
32.96%
- AMT
- 32.96%
- Max
- 22.74%
- Q3
- 10.54%
- Median
- 6.38%
- Q1
- 1.69%
- Min
- -10.86%
ELS
Equity Real Estate Investment Trusts (REITs) industry group
22.34%
- Max
- 22.74%
- ELS
- 22.34%
- Q3
- 10.54%
- Median
- 6.38%
- Q1
- 1.69%
- Min
- -10.86%
Net Margin (TTM)
Neither American Tower (AMT) in Equity Real Estate Investment Trusts (REITs) nor Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.
Operating Margin (TTM)
Neither side reports a meaningful operating margin: for American Tower (AMT) in Equity Real Estate Investment Trusts (REITs) and Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.
Profitability Metrics
| Metric | AMT | ELS |
|---|---|---|
| ROE (TTM) | 32.96% | 22.34% |
| ROA (TTM) | 4.94% | 6.06% |
| Net Margin (TTM) | -- | -- |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Both American Tower (AMT) at 5.11% and Equity LifeStyle Properties (ELS) at 1.18% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
EPS growth isn't a meaningful figure for either American Tower (AMT) in Equity Real Estate Investment Trusts (REITs) or Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) under our convention.
Growth Metrics
| Metric | AMT | ELS |
|---|---|---|
| Revenue Growth (YoY) | 5.11% | 1.18% |
| Revenue Growth (3Y CAGR) | 3.34% | 1.79% |
| EPS Growth (YoY) | -- | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Both American Tower (AMT) at 0.35 and Equity LifeStyle Properties (ELS) at 0.12 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.
AMT
Equity Real Estate Investment Trusts (REITs) industry group
0.35
- Max
- 4.19
- Q3
- 2.11
- Median
- 1.31
- Q1
- 0.62
- AMT
- 0.35
- Min
- 0.06
ELS
Equity Real Estate Investment Trusts (REITs) industry group
0.12
- Max
- 4.19
- Q3
- 2.11
- Median
- 1.31
- Q1
- 0.62
- ELS
- 0.12
- Min
- 0.06
Debt / Equity (MRQ)
Both balance sheets lean debt-heavy versus peers, but AMT is more stretched: Equity LifeStyle Properties (ELS) at 1.83 sits in the higher-leverage quartile and American Tower (AMT) at 4.64 is above its industry benchmark range.
AMT
Equity Real Estate Investment Trusts (REITs) industry group
4.64
- AMT
- 4.64
- Max
- 2.72
- Q3
- 1.59
- Median
- 0.99
- Q1
- 0.72
- Min
- 0.20
ELS
Equity Real Estate Investment Trusts (REITs) industry group
1.83
- Max
- 2.72
- ELS
- 1.83
- Q3
- 1.59
- Median
- 0.99
- Q1
- 0.72
- Min
- 0.20
Financial Strength Metrics
| Metric | AMT | ELS |
|---|---|---|
| Current Ratio (MRQ) | 0.35 | 0.12 |
| Debt / Equity (MRQ) | 4.64 | 1.83 |
| Net Debt / EBITDA | 6.14 | 4.23 |
Dividends
Dividend Yield (TTM)
Both American Tower (AMT) at 3.64% and Equity LifeStyle Properties (ELS) at 3.40% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.
AMT
Equity Real Estate Investment Trusts (REITs) industry group
3.64%
- Max
- 8.62%
- Q3
- 5.95%
- Median
- 4.34%
- AMT
- 3.64%
- Q1
- 3.26%
- Min
- 0.00%
ELS
Equity Real Estate Investment Trusts (REITs) industry group
3.40%
- Max
- 8.62%
- Q3
- 5.95%
- Median
- 4.34%
- ELS
- 3.40%
- Q1
- 3.26%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
An earnings-based payout ratio fits neither American Tower (AMT) in Equity Real Estate Investment Trusts (REITs) nor Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.
Dividend Metrics
| Metric | AMT | ELS |
|---|---|---|
| Dividend Yield (TTM) | 3.64% | 3.40% |
| Dividend Payout Ratio (TTM) | -- | -- |
Valuation
P/E Ratio (TTM)
P/E ratio is not a meaningful valuation yardstick for either American Tower (AMT) in Equity Real Estate Investment Trusts (REITs) or Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.
P/S Ratio (TTM)
On P/S ratio, both American Tower (AMT) at 7.95 and Equity LifeStyle Properties (ELS) at 7.96 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.
AMT
Equity Real Estate Investment Trusts (REITs) industry group
7.95
- Max
- 14.47
- Q3
- 8.02
- AMT
- 7.95
- Median
- 5.98
- Q1
- 3.27
- Min
- 0.43
ELS
Equity Real Estate Investment Trusts (REITs) industry group
7.96
- Max
- 14.47
- Q3
- 8.02
- ELS
- 7.96
- Median
- 5.98
- Q1
- 3.27
- Min
- 0.43
P/B Ratio (MRQ)
Measured against book value, both American Tower (AMT) at 24.92 and Equity LifeStyle Properties (ELS) at 6.99 look expensive — each P/B ratio sits above its industry’s benchmark range.
AMT
Equity Real Estate Investment Trusts (REITs) industry group
24.92
- AMT
- 24.92
- Max
- 4.06
- Q3
- 2.53
- Median
- 1.64
- Q1
- 1.06
- Min
- 0.21
ELS
Equity Real Estate Investment Trusts (REITs) industry group
6.99
- ELS
- 6.99
- Max
- 4.06
- Q3
- 2.53
- Median
- 1.64
- Q1
- 1.06
- Min
- 0.21
Valuation Metrics
| Metric | AMT | ELS |
|---|---|---|
| P/E Ratio (TTM) | -- | -- |
| P/S Ratio (TTM) | 7.95 | 7.96 |
| P/B Ratio (MRQ) | 24.92 | 6.99 |
| Free Cash Flow Yield (TTM) | -- | -- |