Equity Lifestyle Properties Inc. (ELS) Announces Earnings Results
Equity Lifestyle Properties Inc. (NYSE:ELS) issued its quarterly earnings data on Monday. The company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%.
Shares of Equity Lifestyle Properties (NYSE:ELS) traded up 0.27% during mid-day trading on Monday, reaching $74.53. 481,157 shares of the company’s stock traded hands. Equity Lifestyle Properties has a 12-month low of $57.71 and a 12-month high of $83.19. The stock has a market capitalization of $6.36 billion, a PE ratio of 40.22 and a beta of 0.40. The company’s 50-day moving average price is $76.67 and its 200-day moving average price is $75.69.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, September 28th. Equity Lifestyle Properties’s payout ratio is currently 91.40%.
Hedge funds have recently added to or reduced their stakes in the company. Piermont Capital Management Inc. boosted its stake in shares of Equity Lifestyle Properties by 138.2% in the second quarter. Piermont Capital Management Inc. now owns 8,980 shares of the company’s stock valued at $719,000 after buying an additional 5,210 shares in the last quarter. Columbia Wanger Asset Management LLC acquired a new stake in shares of Equity Lifestyle Properties during the second quarter valued at about $41,492,000. Profund Advisors LLC boosted its stake in shares of Equity Lifestyle Properties by 13.7% in the second quarter. Profund Advisors LLC now owns 4,778 shares of the company’s stock valued at $382,000 after buying an additional 575 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Equity Lifestyle Properties by 1.3% in the second quarter. Rhumbline Advisers now owns 87,834 shares of the company’s stock valued at $7,031,000 after buying an additional 1,112 shares in the last quarter. Finally, WBI Investments Inc. acquired a new stake in shares of Equity Lifestyle Properties during the second quarter valued at about $1,201,000. 94.83% of the stock is owned by institutional investors and hedge funds.
ELS has been the subject of a number of research analyst reports. TheStreet lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Citigroup Inc. raised their price objective on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Evercore ISI initiated coverage on Equity Lifestyle Properties in a research report on Friday. They set a “hold” rating and a $74.00 price objective for the company. Finally, BMO Capital Markets restated a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a research report on Thursday, July 28th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of C$71.64.
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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