Equity Lifestyle Properties Inc. (ELS) Sees Large Volume Increase
Equity Lifestyle Properties Inc. (NYSE:ELS) saw unusually-strong trading volume on Friday . Approximately 405,368 shares traded hands during mid-day trading, a decline of 3% from the previous session’s volume of 419,071 shares.The stock last traded at $80.04 and had previously closed at $80.06.
Several research analysts have recently commented on ELS shares. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, April 21st. Cantor Fitzgerald reiterated a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. Robert W. Baird reiterated a “hold” rating on shares of Equity Lifestyle Properties in a report on Tuesday, April 19th. Finally, Citigroup Inc. lifted their price objective on Equity Lifestyle Properties from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Equity Lifestyle Properties currently has a consensus rating of “Hold” and an average price target of C$70.10.
The stock’s 50-day moving average price is $75.70 and its 200 day moving average price is $71.12. The firm has a market cap of $6.80 billion and a P/E ratio of 44.38.
Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Monday, April 18th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm earned $220.10 million during the quarter, compared to analyst estimates of $207.25 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts forecast that Equity Lifestyle Properties Inc. will post $3.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Friday, June 24th were issued a $0.425 dividend. The ex-dividend date was Wednesday, June 22nd. This represents a $1.70 annualized dividend and a dividend yield of 2.11%.
In other news, EVP Roger Maynard sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of C$71.64, for a total value of C$1,074,600.00. Following the transaction, the executive vice president now directly owns 155,379 shares in the company, valued at approximately C$11,131,351.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Several institutional investors recently modified their holdings of ELS. Standard Life Investments LTD raised its position in shares of Equity Lifestyle Properties by 63.3% in the fourth quarter. Standard Life Investments LTD now owns 115,108 shares of the company’s stock valued at $7,672,000 after buying an additional 44,616 shares in the last quarter. Redwood Capital Investments LLC bought a new position in shares of Equity Lifestyle Properties during the fourth quarter valued at approximately $62,805,000. Schroder Investment Management Group raised its position in shares of Equity Lifestyle Properties by 3.7% in the fourth quarter. Schroder Investment Management Group now owns 1,443,538 shares of the company’s stock valued at $96,241,000 after buying an additional 51,384 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Equity Lifestyle Properties by 3.5% in the fourth quarter. California Public Employees Retirement System now owns 208,626 shares of the company’s stock valued at $13,909,000 after buying an additional 7,000 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Equity Lifestyle Properties by 211.6% in the fourth quarter. First Trust Advisors LP now owns 196,333 shares of the company’s stock valued at $13,090,000 after buying an additional 133,327 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.