Equity Lifestyle Properties Inc. (ELS) Shares Gap Up to $77.90
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) gapped up before the market opened on Friday . The stock had previously closed at $77.44, but opened at $77.90. Equity Lifestyle Properties shares last traded at $78.72, with a volume of 88,642 shares trading hands.
A number of research firms recently issued reports on ELS. BMO Capital Markets reissued a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a research report on Thursday, July 28th. Citigroup Inc. lifted their price objective on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Equity Lifestyle Properties in a research report on Saturday, June 4th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Equity Lifestyle Properties currently has an average rating of “Hold” and a consensus target price of C$71.25.
The firm has a 50 day moving average price of $79.80 and a 200 day moving average price of $74.52. The company has a market capitalization of $6.73 billion and a P/E ratio of 42.56.
Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, July 18th. The company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. The firm earned $210.10 million during the quarter, compared to the consensus estimate of $114.76 million. Equity Lifestyle Properties’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Equities analysts expect that Equity Lifestyle Properties Inc. will post $3.30 EPS for the current fiscal year.
In related news, EVP Roger Maynard sold 15,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 155,379 shares in the company, valued at approximately C$11,131,351.56. The transaction was disclosed in a filing with the SEC, which is available through this link.
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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