ELS vs. IRM: Equity LifeStyle Properties vs. Iron Mountain Stock Comparison
How do Equity LifeStyle Properties (ELS) and Iron Mountain (IRM) 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
Equity LifeStyle Properties (ELS) and Iron Mountain (IRM) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but ELS is classified in Residential REITs while IRM is classified in Specialized REITs.
Both Equity LifeStyle Properties (ELS) and Iron Mountain (IRM) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.
| Profile Item | ELS | IRM |
|---|---|---|
| Name | Equity LifeStyle Properties, Inc. | Iron Mountain 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 | Residential REITs | Specialized REITs |
| GICS Sub-Industry | Single-Family Residential REITs | Other Specialized REITs |
| Market Capitalization | 12.67 billion USD | 31.73 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | February 25, 1993 | February 1, 1996 |
| Security Type | REIT | REIT |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | ELS | IRM |
|---|---|---|
| Total Return (1Y) | 4.40% | 12.13% |
| Total Return (3Y, Annualized) | 1.94% | 28.29% |
| Total Return (5Y, Annualized) | -3.06% | 23.46% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | ELS | IRM |
|---|---|---|
| Volatility (1Y, Annualized) | 19.05% | 35.33% |
| Beta (5Y) | 0.57 | 1.19 |
| Max Drawdown (5Y) | -32.51% | -39.03% |
| Avg. Volume (3M) | 1.77M | 1.52M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | ELS | IRM |
|---|---|---|
| Sharpe Ratio (1Y) | 0.01 | 0.22 |
| Sortino Ratio (1Y) | 0.01 | 0.31 |
Profitability
ROE (TTM)
Capital efficiency shows on one side only: Equity LifeStyle Properties (ELS) earns 22.34% on shareholders’ equity, ranked against its industry; Iron Mountain (IRM) has no ROE this period.
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%
IRM
Equity Real Estate Investment Trusts (REITs) industry group
--
- Max
- 22.74%
- Q3
- 10.54%
- Median
- 6.38%
- Q1
- 1.69%
- Min
- -10.86%
- IRM
- --
Net Margin (TTM)
Neither Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) nor Iron Mountain (IRM) 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 Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) and Iron Mountain (IRM) 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 | ELS | IRM |
|---|---|---|
| ROE (TTM) | 22.34% | -- |
| ROA (TTM) | 6.06% | 4.72% |
| Net Margin (TTM) | -- | -- |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Iron Mountain (IRM) at 12.23% 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 IRM.
EPS Growth
EPS growth isn't a meaningful figure for either Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) or Iron Mountain (IRM) in Equity Real Estate Investment Trusts (REITs) under our convention.
Growth Metrics
| Metric | ELS | IRM |
|---|---|---|
| Revenue Growth (YoY) | 1.18% | 12.23% |
| Revenue Growth (3Y CAGR) | 1.79% | 10.58% |
| EPS Growth (YoY) | -- | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Both Equity LifeStyle Properties (ELS) at 0.12 and Iron Mountain (IRM) at 0.56 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.
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
IRM
Equity Real Estate Investment Trusts (REITs) industry group
0.56
- Max
- 4.19
- Q3
- 2.11
- Median
- 1.31
- Q1
- 0.62
- IRM
- 0.56
- Min
- 0.06
Debt / Equity (MRQ)
Only one side’s leverage can be read here: Equity LifeStyle Properties (ELS) carries debt-to-equity ratio of 1.83 against its industry range, while Iron Mountain (IRM) reports no figure this period.
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
IRM
Equity Real Estate Investment Trusts (REITs) industry group
--
- Max
- 2.72
- Q3
- 1.59
- Median
- 0.99
- Q1
- 0.72
- Min
- 0.20
- IRM
- --
Financial Strength Metrics
| Metric | ELS | IRM |
|---|---|---|
| Current Ratio (MRQ) | 0.12 | 0.56 |
| Debt / Equity (MRQ) | 1.83 | -- |
| Net Debt / EBITDA | 4.23 | 7.69 |
Dividends
Dividend Yield (TTM)
Both Equity LifeStyle Properties (ELS) at 3.40% and Iron Mountain (IRM) at 3.28% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.
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%
IRM
Equity Real Estate Investment Trusts (REITs) industry group
3.28%
- Max
- 8.62%
- Q3
- 5.95%
- Median
- 4.34%
- IRM
- 3.28%
- Q1
- 3.26%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
An earnings-based payout ratio fits neither Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) nor Iron Mountain (IRM) 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 | ELS | IRM |
|---|---|---|
| Dividend Yield (TTM) | 3.40% | 3.28% |
| Dividend Payout Ratio (TTM) | -- | -- |
Valuation
P/E Ratio (TTM)
P/E ratio is not a meaningful valuation yardstick for either Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) or Iron Mountain (IRM) 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 Equity LifeStyle Properties (ELS) at 7.96 and Iron Mountain (IRM) at 4.07 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.
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
IRM
Equity Real Estate Investment Trusts (REITs) industry group
4.07
- Max
- 14.47
- Q3
- 8.02
- Median
- 5.98
- IRM
- 4.07
- Q1
- 3.27
- Min
- 0.43
P/B Ratio (MRQ)
Iron Mountain (IRM) reports a negative P/B ratio of -22.85, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Equity LifeStyle Properties (ELS) reports 6.99, ranking against industry peers normally.
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
IRM
Equity Real Estate Investment Trusts (REITs) industry group
-22.85
- Max
- 4.06
- Q3
- 2.53
- Median
- 1.64
- Q1
- 1.06
- Min
- 0.21
- IRM
- -22.85
Valuation Metrics
| Metric | ELS | IRM |
|---|---|---|
| P/E Ratio (TTM) | -- | -- |
| P/S Ratio (TTM) | 7.96 | 4.07 |
| P/B Ratio (MRQ) | 6.99 | -22.85 |
| Free Cash Flow Yield (TTM) | -- | -- |