Equity LifeStyle Properties (ELS) will raise its quarterly dividend by 12.8 percent to $0.55 per share in the first quarter of 2018. The dividend yield for ELS is 2.6% based on the new annual dividend of $2.20 per share.

The REIT has now increased its dividend for 14 consecutive years and today's dividend hike follows a 14.7 percent dividend increase in 2017.

Equity LifeStyle Properties, Inc. is a real estate investment trust. The company is an integrated owner and operator of lifestyle-oriented properties  consisting primarily of manufactured home communities, and recreational vehicle resorts and campgrounds. Equity Lifestyle has a unique business model where it owns the land upon which the company provides its customers the opportunity to place factory-built homes, cottages or RVs either on a long-term or short-term basis. The company's portfolio is geographically diversified with a focus on both retirement and vacation destinations. ELS properties attract retirees, vacationing families and second homeowners, while providing a lower cost home ownership alternative.