Equity Lifestyle Properties Inc. (ELS) Shares Down 1.3%
Equity Lifestyle Properties Inc. (NYSE:ELS)’s share price traded down 1.3% during trading on Wednesday . The stock traded as low as $80.31 and last traded at $80.31, with a volume of 164,099 shares trading hands. The stock had previously closed at $81.33.
Several brokerages have issued reports on ELS. Citigroup Inc. raised 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. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. Zacks Investment Research lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Equity Lifestyle Properties in a report on Tuesday, April 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Equity Lifestyle Properties presently has a consensus rating of “Hold” and a consensus target price of C$70.10.
The firm has a market capitalization of $6.80 billion and a price-to-earnings ratio of 44.36. The firm has a 50 day moving average of $76.50 and a 200 day moving average of $71.53.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company earned $210.10 million during the quarter, compared to analyst estimates of $114.76 million. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. Analysts expect that Equity Lifestyle Properties Inc. will post $3.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Friday, June 24th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Wednesday, June 22nd.
In related news, EVP Roger Maynard sold 15,000 shares of the 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 transaction of C$1,074,600.00. Following the completion of the sale, the executive vice president now directly owns 155,379 shares of the company’s stock, valued at C$11,131,351.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several large investors have recently added to or reduced their stakes in ELS. Vanguard Group Inc. raised its stake in Equity Lifestyle Properties by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,514,169 shares of the company’s stock worth $767,650,000 after buying an additional 152,889 shares in the last quarter. Schroder Investment Management Group raised its stake in 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 worth $96,241,000 after buying an additional 51,384 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Equity Lifestyle Properties by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,730 shares of the company’s stock worth $68,319,000 after buying an additional 11,066 shares in the last quarter. Redwood Capital Investments LLC purchased a new stake in Equity Lifestyle Properties during the fourth quarter worth about $62,805,000. Finally, Advantus Capital Management Inc raised its stake in Equity Lifestyle Properties by 8.0% in the fourth quarter. Advantus Capital Management Inc now owns 291,200 shares of the company’s stock worth $19,414,000 after buying an additional 21,500 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.
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