Equity Lifestyle Properties Inc. (ELS) Announces Earnings Results
Equity Lifestyle Properties Inc. (NYSE:ELS) announced its quarterly earnings data on Monday. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%.
Shares of Equity Lifestyle Properties (NYSE:ELS) traded up 0.27% during trading on Monday, hitting $74.53. 481,157 shares of the stock traded hands. The firm has a market cap of $6.36 billion, a PE ratio of 40.22 and a beta of 0.40. Equity Lifestyle Properties has a 52-week low of $57.71 and a 52-week high of $83.19. The company’s 50 day moving average is $76.67 and its 200 day moving average is $75.69.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were paid a $0.425 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 2.28%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 91.40%.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in Equity Lifestyle Properties by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 3,164 shares of the company’s stock worth $211,000 after buying an additional 41 shares during the last quarter. National Asset Management Inc. boosted its position in Equity Lifestyle Properties by 2.4% in the second quarter. National Asset Management Inc. now owns 3,352 shares of the company’s stock worth $269,000 after buying an additional 80 shares during the last quarter. Profund Advisors LLC boosted its position in Equity Lifestyle Properties by 13.7% in the second quarter. Profund Advisors LLC now owns 4,778 shares of the company’s stock worth $382,000 after buying an additional 575 shares during the last quarter. Quadrature Capital Ltd boosted its position in Equity Lifestyle Properties by 83.0% in the second quarter. Quadrature Capital Ltd now owns 6,055 shares of the company’s stock worth $485,000 after buying an additional 2,746 shares during the last quarter. Finally, BlackRock Japan Co. Ltd boosted its position in Equity Lifestyle Properties by 8.4% in the second quarter. BlackRock Japan Co. Ltd now owns 8,573 shares of the company’s stock worth $686,000 after buying an additional 666 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.
ELS has been the subject of several research reports. TheStreet cut shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Citigroup Inc. upped their price objective on shares of Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Evercore ISI initiated coverage on shares of Equity Lifestyle Properties in a research note on Friday. They set a “hold” rating and a $74.00 price objective for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of C$71.64.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated 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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