Equity Lifestyle Properties Inc. (ELS) Shares Gap Up to $77.32
Equity Lifestyle Properties Inc. (NYSE:ELS) gapped up before the market opened on Tuesday . The stock had previously closed at $77.10, but opened at $77.32. Equity Lifestyle Properties shares last traded at $77.72, with a volume of 164,420 shares.
ELS has been the topic of several analyst reports. Cantor Fitzgerald restated a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. BMO Capital Markets restated a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Finally, 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of C$71.25.
The firm has a 50-day moving average of $78.66 and a 200 day moving average of $75.27. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 41.74 and a beta of 0.48.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $210.10 million for the quarter, compared to analysts’ expectations of $114.76 million. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities research analysts predict that Equity Lifestyle Properties Inc. will post $3.30 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.425 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 2.20%. Equity Lifestyle Properties’s dividend payout ratio is currently 91.40%.
Several hedge funds and other institutional investors have recently bought and sold shares of ELS. Vanguard Group Inc. boosted its position in Equity Lifestyle Properties by 2.5% in the second quarter. Vanguard Group Inc. now owns 12,058,051 shares of the company’s stock valued at $965,247,000 after buying an additional 289,143 shares in the last quarter. Cohen & Steers Inc. boosted its position in Equity Lifestyle Properties by 6.5% in the second quarter. Cohen & Steers Inc. now owns 2,999,366 shares of the company’s stock valued at $240,099,000 after buying an additional 183,619 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Equity Lifestyle Properties by 1.1% in the second quarter. Daiwa Securities Group Inc. now owns 2,478,646 shares of the company’s stock valued at $198,415,000 after buying an additional 27,642 shares in the last quarter. State Street Corp boosted its position in Equity Lifestyle Properties by 3.0% in the first quarter. State Street Corp now owns 2,457,328 shares of the company’s stock valued at $178,722,000 after buying an additional 72,727 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Equity Lifestyle Properties by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,556,487 shares of the company’s stock valued at $113,204,000 after buying an additional 311,786 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.
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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