ELS vs. INVH: Equity LifeStyle Properties vs. Invitation Homes Stock Comparison

Company Profile

Equity LifeStyle Properties (ELS) and Invitation Homes (INVH) are both classified in the Single-Family Residential REITs sub-industry within the broader Residential REITs industry, placing them in the closest GICS peer bucket.

Both Equity LifeStyle Properties (ELS) and Invitation Homes (INVH) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Equity LifeStyle Properties (ELS) at 22.34% sits in the top ROE quartile, while Invitation Homes (INVH) at 7.40% is closer to the peer norm — stronger capital efficiency for ELS.

Neither Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) nor Invitation Homes (INVH) 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.

Neither side reports a meaningful operating margin: for Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) and Invitation Homes (INVH) 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

Growth

Both Equity LifeStyle Properties (ELS) at 1.18% and Invitation Homes (INVH) at 4.21% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) or Invitation Homes (INVH) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Both Equity LifeStyle Properties (ELS) at 0.12 and Invitation Homes (INVH) at 0.61 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

Invitation Homes (INVH) at 0.99 carries an industry-typical debt-to-equity mix, while Equity LifeStyle Properties (ELS) at 1.83 uses more debt funding than most peers.

Financial Strength Metrics

Dividends

Both Equity LifeStyle Properties (ELS) at 3.40% and Invitation Homes (INVH) at 4.35% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

An earnings-based payout ratio fits neither Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) nor Invitation Homes (INVH) 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

Valuation

P/E ratio is not a meaningful valuation yardstick for either Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) or Invitation Homes (INVH) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

On P/S ratio, both Equity LifeStyle Properties (ELS) at 7.96 and Invitation Homes (INVH) at 5.49 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

Invitation Homes (INVH) at 1.79 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.

Valuation Metrics