Equity LifeStyle Properties, Inc. (NYSE:ELS) Expected to Post Earnings of $0.61 Per Share

Wall Street brokerages predict that Equity LifeStyle Properties, Inc. (NYSE:ELS) will post earnings per share of $0.61 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Equity LifeStyle Properties’ earnings. Equity LifeStyle Properties reported earnings of $0.55 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.9%. The firm is scheduled to report its next quarterly earnings results on Monday, October 18th.

On average, analysts expect that Equity LifeStyle Properties will report full year earnings of $2.47 per share for the current fiscal year. For the next financial year, analysts forecast that the company will report earnings of $2.61 per share. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Equity LifeStyle Properties.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Sunday, July 18th. The real estate investment trust reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. The business had revenue of $317.42 million for the quarter, compared to analysts’ expectations of $262.68 million. Equity LifeStyle Properties had a net margin of 20.64% and a return on equity of 18.54%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share.

A number of equities analysts have recently commented on ELS shares. Zacks Investment Research lowered Equity LifeStyle Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 5th. Wells Fargo & Company lifted their price target on Equity LifeStyle Properties from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 25th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price target on Equity LifeStyle Properties from $75.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 21st. Barclays started coverage on Equity LifeStyle Properties in a research note on Wednesday, September 1st. They issued an “overweight” rating and a $92.00 target price for the company. Finally, UBS Group began coverage on Equity LifeStyle Properties in a research note on Thursday, June 3rd. They issued a “buy” rating and a $80.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $80.56.

Equity LifeStyle Properties stock opened at $82.65 on Friday. The stock has a market cap of $15.07 billion, a P/E ratio of 62.54, a P/E/G ratio of 6.49 and a beta of 0.50. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average price is $83.12 and its two-hundred day moving average price is $74.50. Equity LifeStyle Properties has a 52 week low of $57.93 and a 52 week high of $88.47.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 8th. Shareholders of record on Friday, September 24th will be issued a $0.363 dividend. This represents a $1.45 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, September 23rd. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 66.82%.

A number of institutional investors have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC raised its stake in shares of Equity LifeStyle Properties by 52.0% in the second quarter. Rafferty Asset Management LLC now owns 13,853 shares of the real estate investment trust’s stock worth $1,029,000 after purchasing an additional 4,738 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Equity LifeStyle Properties by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 146,235 shares of the real estate investment trust’s stock worth $9,306,000 after purchasing an additional 10,656 shares during the last quarter. SG Capital Management LLC purchased a new position in shares of Equity LifeStyle Properties in the second quarter worth $3,193,000. Advisors Asset Management Inc. raised its stake in shares of Equity LifeStyle Properties by 3.2% in the second quarter. Advisors Asset Management Inc. now owns 38,461 shares of the real estate investment trust’s stock worth $2,858,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. raised its stake in shares of Equity LifeStyle Properties by 9.1% in the first quarter. Waratah Capital Advisors Ltd. now owns 814,389 shares of the real estate investment trust’s stock worth $51,828,000 after purchasing an additional 68,143 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations; and Home Sales and Rentals Operations.

See Also: Trading Strategy Methods and Types

Get a free copy of the Zacks research report on Equity LifeStyle Properties (ELS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Equity LifeStyle Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity LifeStyle Properties and related companies with MarketBeat.com's FREE daily email newsletter.