Equity Lifestyle Properties Inc. (NYSE:ELS) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $3.45-3.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.53. Equity Lifestyle Properties also updated its Q4 guidance to $0.75-0.81 EPS.
Several brokerages recently issued reports on ELS. BMO Capital Markets reaffirmed a hold rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Evercore ISI started coverage on shares of Equity Lifestyle Properties in a research note on Friday. They issued a hold rating and a $74.00 price target for the company. TheStreet cut shares of Equity Lifestyle Properties from a buy rating to a hold rating in a research note on Friday, October 7th. Finally, Citigroup Inc. increased their price target on shares of Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a neutral rating in a research note on Thursday, July 7th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of C$71.64.
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) traded up 0.27% during trading on Monday, hitting $74.53. 484,094 shares of the stock traded hands. The firm has a market cap of $6.36 billion, a PE ratio of 40.22 and a beta of 0.40. Equity Lifestyle Properties Inc. has a 52-week low of $57.71 and a 52-week high of $83.19. The company’s 50 day moving average is $76.67 and its 200 day moving average is $75.69.
Equity Lifestyle Properties (NYSE:ELS) last announced its earnings results on Monday, October 17th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. The company earned $226.20 million during the quarter, compared to analysts’ expectations of $116.42 million. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, equities research analysts predict that Equity Lifestyle Properties Inc. will post $3.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Wednesday, September 28th. Equity Lifestyle Properties’s payout ratio is currently 91.40%.
Several large investors have recently modified their holdings of ELS. Piermont Capital Management Inc. increased 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 worth $719,000 after buying an additional 5,210 shares during the period. Columbia Wanger Asset Management LLC purchased a new stake in shares of Equity Lifestyle Properties during the second quarter worth approximately $41,492,000. Profund Advisors LLC increased 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 worth $382,000 after buying an additional 575 shares during the period. Rhumbline Advisers increased 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 worth $7,031,000 after buying an additional 1,112 shares during the period. Finally, WBI Investments Inc. purchased a new stake in shares of Equity Lifestyle Properties during the second quarter worth approximately $1,201,000. Institutional investors and hedge funds own 94.83% of the company’s stock.
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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