Equity Lifestyle Properties, Inc. (ELS) Reaches New 52-Week High at $89.60
Equity Lifestyle Properties, Inc. (NYSE:ELS) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $89.60 and last traded at $89.63, with a volume of 104,830 shares. The stock had previously closed at $89.15.
A number of equities research analysts have issued reports on ELS shares. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Tuesday, June 13th. Cantor Fitzgerald restated a “neutral” rating and set a $81.00 price objective (up previously from $75.00) on shares of Equity Lifestyle Properties in a research report on Saturday, July 22nd. Finally, BidaskClub upgraded Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.75.
The stock has a market capitalization of $7.81 billion, a PE ratio of 44.56 and a beta of 0.32. The firm’s 50-day moving average price is $87.43 and its 200 day moving average price is $83.07.
Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. Equities research analysts forecast that Equity Lifestyle Properties, Inc. will post $2.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.4875 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.17%. Equity Lifestyle Properties’s dividend payout ratio is currently 97.02%.
In related news, Chairman Samuel Zell bought 805,333 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was acquired at an average price of $87.43 per share, with a total value of $70,410,264.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ELS. Suntrust Banks Inc. boosted its stake in Equity Lifestyle Properties by 13.1% in the first quarter. Suntrust Banks Inc. now owns 7,120 shares of the real estate investment trust’s stock worth $548,000 after buying an additional 825 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Equity Lifestyle Properties by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 447,510 shares of the real estate investment trust’s stock worth $34,485,000 after buying an additional 20,583 shares in the last quarter. Henderson Group PLC boosted its stake in Equity Lifestyle Properties by 0.7% in the first quarter. Henderson Group PLC now owns 93,478 shares of the real estate investment trust’s stock worth $7,201,000 after buying an additional 682 shares in the last quarter. First Trust Advisors LP boosted its stake in Equity Lifestyle Properties by 24.8% in the first quarter. First Trust Advisors LP now owns 62,630 shares of the real estate investment trust’s stock worth $4,826,000 after buying an additional 12,456 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Equity Lifestyle Properties by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 144,017 shares of the real estate investment trust’s stock worth $11,098,000 after buying an additional 524 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.
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Equity Lifestyle Properties Company Profile
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.
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