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 earnings per share (EPS) guidance of $0.75-0.81 for the period, compared to the Thomson Reuters consensus estimate of $0.81. Equity Lifestyle Properties also updated its FY17 guidance to $3.45-3.55 EPS.
Several brokerages have weighed in on ELS. BMO Capital Markets reaffirmed a hold rating and issued a $77.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Evercore ISI began coverage on Equity Lifestyle Properties in a report on Friday. They set a hold rating and a $74.00 price target for the company. TheStreet cut Equity Lifestyle Properties from a buy rating to a hold rating in a report on Friday, October 7th. Finally, Citigroup Inc. boosted their price target on Equity Lifestyle Properties from $70.00 to $80.00 and gave the stock a neutral rating in a report on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of C$71.64.
Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. The business had revenue of $226.20 million for the quarter, compared to analyst estimates of $116.42 million. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a $0.425 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $1.70 annualized dividend and a yield of 2.28%. Equity Lifestyle Properties’s payout ratio is currently 91.40%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in Equity Lifestyle Properties by 10.2% in the second quarter. BlackRock Inc. now owns 102,548 shares of the company’s stock worth $8,209,000 after buying an additional 9,452 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in Equity Lifestyle Properties by 8.4% in the second quarter. BlackRock Japan Co. Ltd now owns 8,573 shares of the company’s stock worth $686,000 after buying an additional 666 shares in the last quarter. Quadrature Capital Ltd raised its position in Equity Lifestyle Properties by 83.0% in the second quarter. Quadrature Capital Ltd now owns 6,055 shares of the company’s stock worth $485,000 after buying an additional 2,746 shares in the last quarter. Alliancebernstein L.P. raised its position in Equity Lifestyle Properties by 20.6% in the second quarter. Alliancebernstein L.P. now owns 98,486 shares of the company’s stock worth $7,884,000 after buying an additional 16,799 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Equity Lifestyle Properties by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 3,164 shares of the company’s stock worth $211,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.
Equity Lifestyle Properties Company Profile
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.
Receive News & Stock Ratings for Equity Lifestyle Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Lifestyle Properties Inc. and related stocks with our FREE daily email newsletter.