Equity Lifestyle Properties, Inc. (NYSE:ELS) issued its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81, Bloomberg Earnings reports. The firm had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $209.80 million. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. Equity Lifestyle Properties’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Equity Lifestyle Properties updated its Q3 guidance to $0.86-0.92 EPS and its FY17 guidance to $3.52-3.62 EPS.
Shares of Equity Lifestyle Properties (NYSE ELS) opened at 86.15 on Friday. Equity Lifestyle Properties has a 12-month low of $65.87 and a 12-month high of $88.16. The company has a 50-day moving average price of $86.37 and a 200 day moving average price of $81.58. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 42.75 and a beta of 0.31.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.4875 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.95 annualized dividend and a yield of 2.26%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 97.02%.
A number of equities research analysts have commented on ELS shares. TheStreet upgraded Equity Lifestyle Properties from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Tuesday, June 13th. BidaskClub lowered Equity Lifestyle Properties from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $81.00 price target (up from $75.00) on shares of Equity Lifestyle Properties in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $83.25.
In other news, Vice Chairman Howard Walker sold 1,608 shares of Equity Lifestyle Properties stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $82.11, for a total transaction of $132,032.88. Following the completion of the transaction, the insider now directly owns 57,265 shares in the company, valued at $4,702,029.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Samuel Zell bought 805,333 shares of the stock in a transaction dated Friday, July 21st. The shares were acquired at an average price of $87.43 per share, with a total value of $70,410,264.19. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in shares of Equity Lifestyle Properties by 80.6% in the fourth quarter. Comerica Bank now owns 6,264 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 2,795 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Equity Lifestyle Properties by 27.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,399 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 946 shares during the period. GSA Capital Partners LLP increased its stake in shares of Equity Lifestyle Properties by 31.3% in the fourth quarter. GSA Capital Partners LLP now owns 3,705 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 883 shares during the period. Tudor Investment Corp Et Al purchased a new stake in shares of Equity Lifestyle Properties during the fourth quarter valued at $203,000. Finally, AQR Capital Management LLC increased its stake in shares of Equity Lifestyle Properties by 9.5% in the fourth quarter. AQR Capital Management LLC now owns 74,785 shares of the real estate investment trust’s stock valued at $5,392,000 after buying an additional 6,469 shares during the period. Hedge funds and other institutional investors own 96.61% of the company’s stock.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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