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Side-by-side financial comparison of EQUITY LIFESTYLE PROPERTIES INC (ELS) and Federal Realty Investment Trust (FRT). Click either name above to swap in a different company.
EQUITY LIFESTYLE PROPERTIES INC is the larger business by last-quarter revenue ($397.6M vs $336.0M, roughly 1.2× Federal Realty Investment Trust). On growth, Federal Realty Investment Trust posted the faster year-over-year revenue change (8.7% vs 2.7%). Over the past eight quarters, Federal Realty Investment Trust's revenue compounded faster (6.5% CAGR vs 2.3%).
Simon Media Properties, LLC, doing business as Simon Property Group, Inc., is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. As of December 31, 2024, it owned interests in 232 properties.
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
ELS vs FRT — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $397.6M | $336.0M |
| Net Profit | — | $129.7M |
| Gross Margin | — | — |
| Operating Margin | — | 53.8% |
| Net Margin | — | 38.6% |
| Revenue YoY | 2.7% | 8.7% |
| Net Profit YoY | — | 103.5% |
| EPS (diluted) | $0.56 | $1.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $397.6M | $336.0M | ||
| Q4 25 | $373.9M | $336.0M | ||
| Q3 25 | $393.3M | $322.3M | ||
| Q2 25 | $376.9M | $311.5M | ||
| Q1 25 | $387.3M | $309.2M | ||
| Q4 24 | $372.3M | $311.4M | ||
| Q3 24 | $387.3M | $303.6M | ||
| Q2 24 | $380.0M | $296.1M |
| Q1 26 | — | $129.7M | ||
| Q4 25 | $103.8M | $129.7M | ||
| Q3 25 | $100.4M | $61.6M | ||
| Q2 25 | $83.5M | $155.9M | ||
| Q1 25 | $114.4M | $63.8M | ||
| Q4 24 | $100.6M | $65.5M | ||
| Q3 24 | $86.9M | $61.0M | ||
| Q2 24 | $82.1M | $112.0M |
| Q1 26 | — | 53.8% | ||
| Q4 25 | 26.5% | 53.8% | ||
| Q3 25 | 25.1% | 34.3% | ||
| Q2 25 | 22.3% | 65.1% | ||
| Q1 25 | 28.3% | 35.0% | ||
| Q4 24 | 27.2% | 35.1% | ||
| Q3 24 | 21.4% | 34.9% | ||
| Q2 24 | 21.5% | 53.0% |
| Q1 26 | — | 38.6% | ||
| Q4 25 | 27.8% | 38.6% | ||
| Q3 25 | 25.5% | 19.1% | ||
| Q2 25 | 22.2% | 50.0% | ||
| Q1 25 | 29.5% | 20.6% | ||
| Q4 24 | 27.0% | 21.0% | ||
| Q3 24 | 22.4% | 20.1% | ||
| Q2 24 | 21.6% | 37.8% |
| Q1 26 | $0.56 | $1.49 | ||
| Q4 25 | $0.52 | $1.49 | ||
| Q3 25 | $0.50 | $0.69 | ||
| Q2 25 | $0.42 | $1.78 | ||
| Q1 25 | $0.57 | $0.72 | ||
| Q4 24 | $0.51 | $0.74 | ||
| Q3 24 | $0.44 | $0.70 | ||
| Q2 24 | $0.42 | $1.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $107.4M |
| Total DebtLower is stronger | — | $5.0B |
| Stockholders' EquityBook value | $1.8B | $3.2B |
| Total Assets | $5.7M | $9.1B |
| Debt / EquityLower = less leverage | — | 1.53× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $107.4M | ||
| Q4 25 | — | $107.4M | ||
| Q3 25 | — | $111.3M | ||
| Q2 25 | — | $177.0M | ||
| Q1 25 | — | $109.2M | ||
| Q4 24 | — | $123.4M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $103.2M |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $3.3B | $5.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.2B | $4.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.8B | $3.2B | ||
| Q4 25 | $1.8B | $3.2B | ||
| Q3 25 | $1.8B | $3.2B | ||
| Q2 25 | $1.7B | $3.2B | ||
| Q1 25 | $1.7B | $3.2B | ||
| Q4 24 | $1.7B | $3.2B | ||
| Q3 24 | $1.4B | $3.1B | ||
| Q2 24 | $1.4B | $3.0B |
| Q1 26 | $5.7M | $9.1B | ||
| Q4 25 | $5.7B | $9.1B | ||
| Q3 25 | $5.7B | $8.9B | ||
| Q2 25 | $5.7B | $8.6B | ||
| Q1 25 | $5.6B | $8.6B | ||
| Q4 24 | $5.6B | $8.5B | ||
| Q3 24 | $5.6B | $8.5B | ||
| Q2 24 | $5.6B | $8.4B |
| Q1 26 | — | 1.53× | ||
| Q4 25 | 1.91× | 1.53× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.84× | 1.42× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ELS
| Rental income | $339.0M | 85% |
| Other | $37.2M | 9% |
| Annual membership subscriptions | $18.3M | 5% |
| Membership upgrade revenue | $3.1M | 1% |
FRT
Segment breakdown not available.
