ELS vs. VTR: Equity LifeStyle Properties vs. Ventas Stock Comparison

November 11, 2026

How do Equity LifeStyle Properties (ELS) and Ventas (VTR) 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 Ventas (VTR) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but ELS is classified in Residential REITs while VTR is classified in Health Care REITs.

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

Company profile comparison for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Profile Item	ELS	VTR
Name	Equity LifeStyle Properties, Inc.	Ventas, 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	Health Care REITs
GICS Sub-Industry	Single-Family Residential REITs	Health Care REITs
Market Capitalization	12.67 billion USD	46.93 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	February 25, 1993	May 5, 1997
Security Type	REIT	REIT

Price Performance

Cumulative Growth

ELS

VTR

GSPC

Equity LifeStyle Properties (ELS) vs. Ventas (VTR), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Equity LifeStyle Properties (ELS) and Ventas (VTR). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Equity LifeStyle Properties (ELS) and Ventas (VTR). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
Total Return (1Y)	4.40%	20.86%
Total Return (3Y, Annualized)	1.94%	32.58%
Total Return (5Y, Annualized)	-3.06%	14.92%

Risk Profile

Drawdown History

ELS

VTR

GSPC

Equity LifeStyle Properties (ELS) vs. Ventas (VTR), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Equity LifeStyle Properties (ELS) and Ventas (VTR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
Volatility (1Y, Annualized)	19.05%	22.83%
Beta (5Y)	0.57	0.73
Max Drawdown (5Y)	-32.51%	-41.80%
Avg. Volume (3M)	1.77M	3.61M

Risk-Adjusted Performance

Risk-Return Positioning

ELS and VTR are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
Sharpe Ratio (1Y)	0.01	0.73
Sortino Ratio (1Y)	0.01	1.02

Profitability

ROE (TTM)

Equity LifeStyle Properties (ELS) at 22.34% sits in the top ROE quartile, while Ventas (VTR) at 1.87% is closer to the peer norm — stronger capital efficiency for ELS.

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%

VTR

Equity Real Estate Investment Trusts (REITs) industry group

1.87%

Max: 22.74%
Q3: 10.54%
Median: 6.38%
VTR: 1.87%
Q1: 1.69%
Min: -10.86%

Equity LifeStyle Properties (ELS) vs. Ventas (VTR): A comparison of their ROE against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Net Margin (TTM)

Neither Equity LifeStyle Properties (ELS) in Equity Real Estate Investment Trusts (REITs) nor Ventas (VTR) 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 Ventas (VTR) 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

Profitability metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
ROE (TTM)	22.34%	1.87%
ROA (TTM)	6.06%	2.14%
Net Margin (TTM)	--	--
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Ventas (VTR) at 18.47% 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 VTR.

Equity LifeStyle Properties (ELS) vs. Ventas (VTR): A comparison of their Revenue Growth across different time periods.

EPS Growth

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

Growth Metrics

Growth metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
Revenue Growth (YoY)	1.18%	18.47%
Revenue Growth (3Y CAGR)	1.79%	12.21%
EPS Growth (YoY)	--	--
EPS Growth (3Y CAGR)	--	--

Financial Strength

Current Ratio (MRQ)

Both Equity LifeStyle Properties (ELS) at 0.12 and Ventas (VTR) at 0.37 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

VTR

Equity Real Estate Investment Trusts (REITs) industry group

0.37

Max: 4.19
Q3: 2.11
Median: 1.31
Q1: 0.62
VTR: 0.37
Min: 0.06

Equity LifeStyle Properties (ELS) vs. Ventas (VTR): A comparison of their current ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Debt / Equity (MRQ)

Ventas (VTR) at 0.77 carries an industry-typical debt-to-equity mix, while Equity LifeStyle Properties (ELS) at 1.83 uses more debt funding than most peers.

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

VTR

Equity Real Estate Investment Trusts (REITs) industry group

0.77

Max: 2.72
Q3: 1.59
Median: 0.99
VTR: 0.77
Q1: 0.72
Min: 0.20

Equity LifeStyle Properties (ELS) vs. Ventas (VTR): A comparison of their debt-to-equity ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
Current Ratio (MRQ)	0.12	0.37
Debt / Equity (MRQ)	1.83	0.77
Net Debt / EBITDA	4.23	5.06

Dividends

Dividend Yield (TTM)

Equity LifeStyle Properties (ELS) at 3.40% pays a yield in its industry’s typical range, while Ventas (VTR) at 2.29% falls in the bottom quartile of its peers.

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%

VTR

Equity Real Estate Investment Trusts (REITs) industry group

2.29%

Max: 8.62%
Q3: 5.95%
Median: 4.34%
Q1: 3.26%
VTR: 2.29%
Min: 0.00%

Equity LifeStyle Properties (ELS) vs. Ventas (VTR): A comparison of their dividend yield against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Dividend Payout Ratio (TTM)

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

Dividend metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
Dividend Yield (TTM)	3.40%	2.29%
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 Ventas (VTR) 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 Ventas (VTR) at 6.96 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

VTR

Equity Real Estate Investment Trusts (REITs) industry group

6.96

Max: 14.47
Q3: 8.02
VTR: 6.96
Median: 5.98
Q1: 3.27
Min: 0.43

Equity LifeStyle Properties (ELS) vs. Ventas (VTR): A comparison of their P/S ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Ventas (VTR) at 2.97 sits in the upper P/B ratio quartile, and Equity LifeStyle Properties (ELS) at 6.99 prices even higher, above its industry range.

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

VTR

Equity Real Estate Investment Trusts (REITs) industry group

2.97

Max: 4.06
VTR: 2.97
Q3: 2.53
Median: 1.64
Q1: 1.06
Min: 0.21

Equity LifeStyle Properties (ELS) vs. Ventas (VTR): A comparison of their P/B ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Valuation Metrics

Valuation metrics for Equity LifeStyle Properties (ELS) and Ventas (VTR)
Metric	ELS	VTR
P/E Ratio (TTM)	--	--
P/S Ratio (TTM)	7.96	6.96
P/B Ratio (MRQ)	6.99	2.97
Free Cash Flow Yield (TTM)	--	--