Equity Lifestyle Properties, Inc. (ELS) Updates FY17 Earnings Guidance
Equity Lifestyle Properties, Inc. (NYSE:ELS) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $3.52-3.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.60. Equity Lifestyle Properties also updated its Q3 guidance to $0.86-0.92 EPS.
Several brokerages recently issued reports on ELS. Zacks Investment Research upgraded Equity Lifestyle Properties from a hold rating to a buy rating and set a $101.00 price objective for the company in a research report on Tuesday. BidaskClub upgraded Equity Lifestyle Properties from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Finally, Cantor Fitzgerald restated a neutral rating and set a $81.00 price objective (up from $75.00) on shares of Equity Lifestyle Properties in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $84.25.
Equity Lifestyle Properties, Inc. (NYSE:ELS) traded up 0.10% during mid-day trading on Thursday, reaching $90.41. 356,435 shares of the company’s stock traded hands. Equity Lifestyle Properties, Inc. has a 52-week low of $65.87 and a 52-week high of $90.80. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 44.87 and a beta of 0.32. The company has a 50-day moving average of $87.73 and a 200-day moving average of $83.38.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. The business had revenue of $221.30 million during the quarter, compared to the consensus estimate of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities research analysts expect that Equity Lifestyle Properties, Inc. will post $2.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.4875 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.95 annualized dividend and a dividend yield of 2.16%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 97.02%.
In other news, Chairman Samuel Zell purchased 805,333 shares of Equity Lifestyle Properties stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $87.43 per share, for a total transaction of $70,410,264.19. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.
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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