Equity Lifestyle Properties, Inc. (ELS) Releases Q3 Earnings Guidance
Equity Lifestyle Properties, Inc. (NYSE:ELS) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.86-0.92 for the period, compared to the Thomson Reuters consensus estimate of $0.90. Equity Lifestyle Properties also updated its FY17 guidance to $3.52-3.62 EPS.
A number of brokerages have recently issued reports on ELS. Robert W. Baird cut Equity Lifestyle Properties from an outperform rating to a neutral rating and set a $92.00 price objective on the stock. in a research note on Friday. Zacks Investment Research upgraded Equity Lifestyle Properties from a hold rating to a buy rating and set a $101.00 price objective on the stock in a research note on Tuesday. BidaskClub upgraded Equity Lifestyle Properties from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Finally, Cantor Fitzgerald reiterated a neutral rating and set a $81.00 price objective (up previously from $75.00) on shares of Equity Lifestyle Properties in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $87.75.
Shares of Equity Lifestyle Properties, Inc. (ELS) opened at 86.23 on Friday. The company has a market cap of $7.50 billion, a PE ratio of 42.79 and a beta of 0.32. The company has a 50-day moving average price of $87.78 and a 200-day moving average price of $83.45. Equity Lifestyle Properties, Inc. has a 1-year low of $65.87 and a 1-year high of $90.80.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The business had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $209.80 million. During the same quarter in the prior year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts expect that Equity Lifestyle Properties, Inc. will post $2.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, September 28th. Equity Lifestyle Properties’s payout ratio is 97.02%.
In related news, Chairman Samuel Zell bought 805,333 shares of Equity Lifestyle Properties stock in a transaction dated Friday, July 21st. The shares were bought at an average cost of $87.43 per share, with a total value of $70,410,264.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.10% of the stock is owned by company insiders.
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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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