Equity Lifestyle Properties Inc. (ELS) Releases Q4 Earnings Guidance
Equity Lifestyle Properties Inc. (NYSE:ELS) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.75-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.81. Equity Lifestyle Properties also updated its FY17 guidance to $3.45-3.55 EPS.
Several analysts have recently commented on the stock. BMO Capital Markets restated a hold rating and issued a $77.00 target price on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Citigroup Inc. raised 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 began coverage on shares of Equity Lifestyle Properties in a research note on Friday. They issued a hold rating and a $74.00 price objective for the company. Finally, TheStreet cut shares of Equity Lifestyle Properties from a buy rating to a hold rating in a research note on Friday, October 7th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of C$71.64.
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) traded up 0.27% during trading on Monday, reaching $74.53. 484,094 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $76.67 and its 200 day moving average price is $75.69. Equity Lifestyle Properties Inc. has a 52 week low of $57.71 and a 52 week high of $83.19. The firm has a market capitalization of $6.36 billion, a PE ratio of 40.22 and a beta of 0.40.
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Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, October 17th. The company reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. The business earned $226.20 million during the quarter, compared to analyst estimates of $116.42 million. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Analysts predict that Equity Lifestyle Properties Inc. will post $3.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a dividend of $0.425 per share. The ex-dividend date 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 is currently 91.40%.
Several institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors Inc. raised its position in Equity Lifestyle Properties by 2.6% in the second quarter. Teachers Advisors Inc. now owns 734,067 shares of the company’s stock valued at $58,762,000 after buying an additional 18,710 shares in the last quarter. Columbia Wanger Asset Management LLC purchased a new position in Equity Lifestyle Properties during the second quarter valued at approximately $41,492,000. Nuveen Asset Management LLC raised its position in Equity Lifestyle Properties by 4.2% in the second quarter. Nuveen Asset Management LLC now owns 485,169 shares of the company’s stock valued at $38,838,000 after buying an additional 19,763 shares in the last quarter. Janus Capital Management LLC raised its position in Equity Lifestyle Properties by 10.2% in the second quarter. Janus Capital Management LLC now owns 344,200 shares of the company’s stock valued at $27,553,000 after buying an additional 31,871 shares in the last quarter. Finally, Allianz Asset Management AG raised its position in Equity Lifestyle Properties by 392.4% in the second quarter. Allianz Asset Management AG now owns 338,857 shares of the company’s stock valued at $27,126,000 after buying an additional 270,035 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.
About Equity Lifestyle Properties
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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