Equity Lifestyle Properties, Inc. (ELS) Sets New 52-Week High at $89.08
Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $89.08 and last traded at $89.09, with a volume of 205,880 shares trading hands. The stock had previously closed at $88.31.
ELS has been the subject of several research reports. BidaskClub raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $83.50.
The firm has a market capitalization of $7.76 billion, a P/E ratio of 44.26 and a beta of 0.31. The stock’s 50 day moving average is $86.57 and its 200 day moving average is $82.27.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The company had revenue of $221.30 million during the quarter, compared to the consensus estimate of $209.80 million. During the same period in the prior year, the company earned $0.75 EPS. Equity Lifestyle Properties’s revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Equity Lifestyle Properties, Inc. will post $2.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, September 28th. Equity Lifestyle Properties’s dividend payout ratio is presently 97.02%.
In other news, Chairman Samuel Zell acquired 805,333 shares of Equity Lifestyle Properties stock in a transaction on Friday, July 21st. The stock was bought at an average cost of $87.43 per share, with a total value of $70,410,264.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Capstone Asset Management Co. purchased a new stake in Equity Lifestyle Properties during the first quarter worth approximately $207,000. Profund Advisors LLC raised its stake in Equity Lifestyle Properties by 0.3% in the first quarter. Profund Advisors LLC now owns 3,199 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 8 shares in the last quarter. ProShare Advisors LLC raised its stake in Equity Lifestyle Properties by 676.6% in the first quarter. ProShare Advisors LLC now owns 164,844 shares of the real estate investment trust’s stock worth $1,719,000 after buying an additional 143,617 shares in the last quarter. Sit Investment Associates Inc. raised its stake in Equity Lifestyle Properties by 103.8% in the first quarter. Sit Investment Associates Inc. now owns 2,650 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 1,350 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Equity Lifestyle Properties by 756.6% in the first quarter. Glen Harbor Capital Management LLC now owns 38,136 shares of the real estate investment trust’s stock worth $2,939,000 after buying an additional 33,684 shares in the last quarter. 96.73% of the stock is owned by institutional investors.
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About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an 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.