Equity Lifestyle Properties, Inc. (NYSE:ELS) - Cantor Fitzgerald raised their FY2017 earnings per share (EPS) estimates for Equity Lifestyle Properties in a research note issued on Thursday. Cantor Fitzgerald analyst G. Mehta now expects that the real estate investment trust will earn $3.60 per share for the year, up from their previous estimate of $3.59. Cantor Fitzgerald currently has a “Neutral” rating and a $81.00 target price on the stock. Cantor Fitzgerald also issued estimates for Equity Lifestyle Properties’ FY2018 earnings at $3.87 EPS.
Equity Lifestyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.81. The company had revenue of $221.30 million for the quarter, compared to analyst estimates of $209.80 million. Equity Lifestyle Properties had a return on equity of 20.72% and a net margin of 22.00%. Equity Lifestyle Properties’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS.
Several other brokerages have also weighed in on ELS. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, June 13th. Evercore ISI lifted their price objective on Equity Lifestyle Properties from $74.00 to $77.00 and gave the stock an “underperform” rating in a report on Tuesday, April 18th. TheStreet raised Equity Lifestyle Properties from a “c+” rating to a “b” rating in a report on Monday, April 17th. Finally, BidaskClub raised Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $82.00.
Shares of Equity Lifestyle Properties (ELS) opened at 87.41 on Friday. Equity Lifestyle Properties has a 52-week low of $65.87 and a 52-week high of $88.16. The company’s 50 day moving average price is $85.83 and its 200 day moving average price is $80.07. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 43.62 and a beta of 0.31.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Equity Lifestyle Properties by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,493,430 shares of the real estate investment trust’s stock valued at $962,743,000 after buying an additional 312,465 shares during the period. BlackRock Inc. increased its position in Equity Lifestyle Properties by 4,674.0% in the first quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock valued at $466,277,000 after buying an additional 5,924,100 shares during the period. State Street Corp increased its position in Equity Lifestyle Properties by 0.7% in the first quarter. State Street Corp now owns 2,532,651 shares of the real estate investment trust’s stock valued at $195,168,000 after buying an additional 17,329 shares during the period. JPMorgan Chase & Co. increased its position in Equity Lifestyle Properties by 91.2% in the first quarter. JPMorgan Chase & Co. now owns 1,627,214 shares of the real estate investment trust’s stock valued at $125,393,000 after buying an additional 775,969 shares during the period. Finally, Resolution Capital Ltd increased its position in Equity Lifestyle Properties by 19.4% in the first quarter. Resolution Capital Ltd now owns 1,388,534 shares of the real estate investment trust’s stock valued at $107,000,000 after buying an additional 226,050 shares during the period. Institutional investors and hedge funds own 96.37% of the company’s stock.
In other news, Vice Chairman Howard Walker sold 1,608 shares of Equity Lifestyle Properties stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $82.11, for a total transaction of $132,032.88. Following the sale, the insider now owns 57,265 shares of the company’s stock, valued at approximately $4,702,029.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Wednesday, June 28th. Equity Lifestyle Properties’s payout ratio is presently 97.02%.
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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