Equity Lifestyle Properties (NYSE:ELS) Releases Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Key Points

• Equity Lifestyle Properties beat earnings expectations, reporting quarterly EPS of $0.79 versus the consensus estimate of $0.51, a $0.28 upside surprise.
• ELS shares rose 1.4% to $61.90 during Tuesday trading. The company has a $12.01 billion market capitalization and trades near the midpoint of its 52-week range.
• The REIT paid a quarterly dividend of $0.5425, representing $2.17 annually and a 3.5% yield. Analysts’ average rating remains “Hold,” with a consensus price target of $67.30.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.28, Zacks reports. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.

Equity Lifestyle Properties Trading Up 1.4%

ELS stock traded up $0.88 during midday trading on Tuesday, hitting $61.90. The stock had a trading volume of 2,169,401 shares, compared to its average volume of 1,665,146. The company's 50-day moving average price is $61.57 and its 200 day moving average price is $63.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The firm has a market cap of $12.01 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 3.63 and a beta of 0.63. Equity Lifestyle Properties has a 12-month low of $57.46 and a 12-month high of $69.00.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, September 25th. Equity Lifestyle Properties's payout ratio is presently 104.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELS. Royal Bank Of Canada dropped their price target on Equity Lifestyle Properties from $71.00 to $68.00 and set an "outperform" rating for the company in a research report on Tuesday, October 13th. Wells Fargo & Company set a $64.00 price objective on Equity Lifestyle Properties and gave the company an "equal weight" rating in a research report on Monday. Weiss Ratings downgraded Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, September 8th. Jefferies Financial Group raised Equity Lifestyle Properties to a "strong-buy" rating in a research note on Monday, October 12th. Finally, Morgan Stanley reiterated a "mixed" rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $67.30.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc NYSE: ELS is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.

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