Equity Lifestyle Properties, Inc. (ELS) Issues Q3 Earnings Guidance
Equity Lifestyle Properties, Inc. (NYSE:ELS) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.86-0.92 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.90. Equity Lifestyle Properties also updated its FY17 guidance to $3.52-3.62 EPS.
Shares of Equity Lifestyle Properties, Inc. (NYSE ELS) traded up 0.10% during trading on Thursday, hitting $90.41. The company’s stock had a trading volume of 356,435 shares. The company has a market cap of $7.87 billion, a PE ratio of 44.87 and a beta of 0.32. Equity Lifestyle Properties, Inc. has a 52 week low of $65.87 and a 52 week high of $90.80. The firm’s 50 day moving average price is $87.73 and its 200-day moving average price is $83.38.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $221.30 million for the quarter, compared to analyst estimates of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. On average, analysts predict that Equity Lifestyle Properties, Inc. will post $2.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.4875 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.16%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 97.02%.
A number of equities research analysts have recently issued reports on ELS shares. BidaskClub upgraded shares of Equity Lifestyle Properties from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Equity Lifestyle Properties from a hold rating to a buy rating and set a $97.00 target price on the stock in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $84.25.
In other Equity Lifestyle Properties news, Chairman Samuel Zell acquired 805,333 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were purchased at an average price of $87.43 per share, for a total transaction of $70,410,264.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company’s stock.
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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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