DLR vs. ELS: Digital Realty Trust vs. Equity LifeStyle Properties Stock Comparison
How do Digital Realty Trust (DLR) 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
Digital Realty Trust (DLR) and Equity LifeStyle Properties (ELS) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but DLR is classified in Specialized REITs while ELS is classified in Residential REITs.
Both Digital Realty Trust (DLR) 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 | DLR | ELS |
|---|---|---|
| Name | Digital Realty Trust Inc. | 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 | Data Center REITs | Single-Family Residential REITs |
| Market Capitalization | 67.07 billion USD | 12.67 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | October 29, 2004 | February 25, 1993 |
| Security Type | REIT | REIT |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | DLR | ELS |
|---|---|---|
| Total Return (1Y) | 9.83% | 4.40% |
| Total Return (3Y, Annualized) | 15.88% | 1.94% |
| Total Return (5Y, Annualized) | 6.47% | -3.06% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | DLR | ELS |
|---|---|---|
| Volatility (1Y, Annualized) | 28.36% | 19.05% |
| Beta (5Y) | 0.98 | 0.57 |
| Max Drawdown (5Y) | -48.52% | -32.51% |
| Avg. Volume (3M) | 2.14M | 1.77M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | DLR | ELS |
|---|---|---|
| Sharpe Ratio (1Y) | 0.20 | 0.01 |
| Sortino Ratio (1Y) | 0.29 | 0.01 |
Profitability
ROE (TTM)
Equity LifeStyle Properties (ELS) at 22.34% sits in the top ROE quartile, while Digital Realty Trust (DLR) at 3.34% is closer to the peer norm — stronger capital efficiency for ELS.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
3.34%
- Max
- 22.74%
- Q3
- 10.54%
- Median
- 6.38%
- DLR
- 3.34%
- 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 Digital Realty Trust (DLR) 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 Digital Realty Trust (DLR) 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 | DLR | ELS |
|---|---|---|
| ROE (TTM) | 3.34% | 22.34% |
| ROA (TTM) | 1.59% | 6.06% |
| Net Margin (TTM) | -- | -- |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Digital Realty Trust (DLR) at 10.04% sits in the top revenue growth quartile, while Equity LifeStyle Properties (ELS) at 1.18% is closer to the peer norm — faster top-line expansion for DLR.
EPS Growth
EPS growth isn't a meaningful figure for either Digital Realty Trust (DLR) 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 | DLR | ELS |
|---|---|---|
| Revenue Growth (YoY) | 10.04% | 1.18% |
| Revenue Growth (3Y CAGR) | 9.22% | 1.79% |
| EPS Growth (YoY) | -- | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Both Digital Realty Trust (DLR) at 0.58 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.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
0.58
- Max
- 4.19
- Q3
- 2.11
- Median
- 1.31
- Q1
- 0.62
- DLR
- 0.58
- 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)
Digital Realty Trust (DLR) at 0.69 keeps leverage in the lower quartile, while Equity LifeStyle Properties (ELS) at 1.83 sits in the higher-leverage quartile.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
0.69
- Max
- 2.72
- Q3
- 1.59
- Median
- 0.99
- Q1
- 0.72
- DLR
- 0.69
- 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 | DLR | ELS |
|---|---|---|
| Current Ratio (MRQ) | 0.58 | 0.12 |
| Debt / Equity (MRQ) | 0.69 | 1.83 |
| Net Debt / EBITDA | 5.95 | 4.23 |
Dividends
Dividend Yield (TTM)
Equity LifeStyle Properties (ELS) at 3.40% pays a yield in its industry’s typical range, while Digital Realty Trust (DLR) at 2.79% falls in the bottom quartile of its peers.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
2.79%
- Max
- 8.62%
- Q3
- 5.95%
- Median
- 4.34%
- Q1
- 3.26%
- DLR
- 2.79%
- 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 Digital Realty Trust (DLR) 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 | DLR | ELS |
|---|---|---|
| Dividend Yield (TTM) | 2.79% | 3.40% |
| Dividend Payout Ratio (TTM) | -- | -- |
Valuation
P/E Ratio (TTM)
P/E ratio is not a meaningful valuation yardstick for either Digital Realty Trust (DLR) 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)
Equity LifeStyle Properties (ELS) at 7.96 is priced about in line with its industry on P/S ratio, while Digital Realty Trust (DLR) at 9.47 sits in the pricier quartile — DLR costs more per dollar of sales.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
9.47
- Max
- 14.47
- DLR
- 9.47
- Q3
- 8.02
- 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)
Digital Realty Trust (DLR) at 2.39 sits near its industry’s typical P/B ratio, while Equity LifeStyle Properties (ELS) at 6.99 prices above its benchmark range — ELS looks rich relative to book.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
2.39
- Max
- 4.06
- Q3
- 2.53
- DLR
- 2.39
- 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 | DLR | ELS |
|---|---|---|
| P/E Ratio (TTM) | -- | -- |
| P/S Ratio (TTM) | 9.47 | 7.96 |
| P/B Ratio (MRQ) | 2.39 | 6.99 |
| Free Cash Flow Yield (TTM) | -- | -- |