Equity Lifestyle Properties (NYSE:ELS) Issues Quarterly Earnings Results

Equity Lifestyle Properties (NYSE:ELS) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.45 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.34), Zacks reports. The company had revenue of $409.90 million during the quarter, compared to analyst estimates of $402.75 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. Equity Lifestyle Properties’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share.

Equity Lifestyle Properties Trading Up 1.4%

Shares of Equity Lifestyle Properties stock opened at $61.90 on Wednesday. The firm’s 50-day moving average price is $61.53 and its two-hundred day moving average price is $63.04. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 3.49 and a beta of 0.63. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. 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 disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were given a dividend of $0.5425 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.17 annualized dividend and a yield of 3.5%. Equity Lifestyle Properties’s dividend payout ratio is currently 104.33%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a research note on Monday, October 12th. Wells Fargo & Company set a $64.00 price objective on Equity Lifestyle Properties and gave the company an “equal weight” rating in a report on Monday. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a report on Thursday, July 9th. Mizuho reiterated a “neutral” rating and set a $65.00 price objective (down from $72.00) on shares of Equity Lifestyle Properties in a research report on Monday, September 21st. Finally, Robert W. Baird reduced their target price on shares of Equity Lifestyle Properties from $74.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.09.

About Equity Lifestyle Properties

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.