Equity Lifestyle Properties Inc. (ELS) Sets New 1-Year High at $81.25
Equity Lifestyle Properties Inc. (NYSE:ELS) shares hit a new 52-week high during trading on Monday . The stock traded as high as $81.25 and last traded at $80.88, with a volume of 224,597 shares traded. The stock had previously closed at $80.42.
Several brokerages have recently commented on ELS. Citigroup Inc. boosted 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 reissued a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Thursday, April 21st. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Equity Lifestyle Properties in a research note on Tuesday, April 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of C$70.10.
The stock has a market capitalization of $6.84 billion and a price-to-earnings ratio of 44.62. The stock has a 50 day moving average of $75.92 and a 200 day moving average of $71.22.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, April 18th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The business earned $220.10 million during the quarter, compared to analysts’ expectations of $207.25 million. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, equities research analysts expect that Equity Lifestyle Properties Inc. will post $3.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 24th were given a $0.425 dividend. The ex-dividend date was Wednesday, June 22nd. This represents a $1.70 annualized dividend and a yield of 2.10%.
In related news, EVP Roger Maynard sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of C$71.64, for a total value of C$1,074,600.00. Following the completion of the transaction, the executive vice president now directly owns 155,379 shares in the company, valued at C$11,131,351.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds and institutional investors have modified their holdings of ELS. Standard Life Investments LTD raised its position in 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 purchased a new position in Equity Lifestyle Properties during the fourth quarter valued at approximately $62,805,000. Schroder Investment Management Group raised its position 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 valued at $96,241,000 after buying an additional 51,384 shares in the last quarter. First Trust Advisors LP raised its position in 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. Finally, California Public Employees Retirement System raised its position in 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.
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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