Equity Lifestyle Properties, Inc. (NYSE:ELS) Releases Quarterly Earnings Results
Equity Lifestyle Properties, Inc. (NYSE:ELS) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81, Bloomberg Earnings reports. Equity Lifestyle Properties had a return on equity of 20.44% and a net margin of 21.87%. The business had revenue of $221.30 million during the quarter, compared to analyst estimates of $209.80 million. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. 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) traded up 1.36% during trading on Monday, reaching $86.32. The company’s stock had a trading volume of 375,842 shares. Equity Lifestyle Properties has a 12 month low of $65.87 and a 12 month high of $87.76. The company’s 50-day moving average is $84.97 and its 200-day moving average is $78.54. The company has a market capitalization of $7.50 billion, a P/E ratio of 43.60 and a beta of 0.31.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, June 28th. Equity Lifestyle Properties’s payout ratio is currently 98.49%.
A number of equities analysts recently issued reports on the company. BidaskClub lowered Equity Lifestyle Properties from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a report on Thursday, June 22nd. Evercore ISI increased their price objective on Equity Lifestyle Properties from $74.00 to $77.00 and gave the stock an “underperform” rating in a report on Tuesday, April 18th. Finally, TheStreet raised Equity Lifestyle Properties from a “c+” rating to a “b” rating in a research note on Monday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Equity Lifestyle Properties has an average rating of “Hold” and a consensus target price of $80.50.
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In related news, Vice Chairman Howard Walker sold 1,608 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $82.11, for a total value of $132,032.88. Following the completion of the sale, the insider now owns 57,265 shares of the company’s stock, valued at $4,702,029.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.10% of the company’s stock.
About Equity Lifestyle Properties
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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