Separately, Zacks Investment Research upgraded shares of Equity Lifestyle Properties from a hold rating to a buy rating and set a $140.00 price objective for the company in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $116.20.
Equity Lifestyle Properties stock opened at $134.11 on Tuesday. The firm has a 50-day moving average of $132.75 and a 200-day moving average of $122.28. Equity Lifestyle Properties has a one year low of $90.90 and a one year high of $138.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 4.45 and a beta of 0.23.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. Equity Lifestyle Properties had a net margin of 27.02% and a return on equity of 22.00%. The company had revenue of $248.37 million during the quarter, compared to the consensus estimate of $244.91 million. During the same period in the prior year, the business posted $0.89 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Equity Lifestyle Properties will post 4.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.613 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 26th. Equity Lifestyle Properties’s dividend payout ratio is currently 63.31%.
In related news, EVP Roger Maynard sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president now directly owns 130,645 shares in the company, valued at approximately $16,330,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Seavey sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $124.80, for a total transaction of $873,600.00. Following the completion of the sale, the chief financial officer now owns 71,571 shares of the company’s stock, valued at $8,932,060.80. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Krane Funds Advisors LLC acquired a new stake in Equity Lifestyle Properties in the 2nd quarter valued at about $25,000. Destination Wealth Management acquired a new stake in Equity Lifestyle Properties in the 2nd quarter valued at about $26,000. Point72 Asset Management L.P. acquired a new stake in Equity Lifestyle Properties in the 2nd quarter valued at about $61,000. Signaturefd LLC lifted its stake in Equity Lifestyle Properties by 53.5% in the 2nd quarter. Signaturefd LLC now owns 505 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 176 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Equity Lifestyle Properties in the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 94.53% of the company’s stock.
About Equity Lifestyle Properties
We are a self-administered, self-managed real estate investment trust (?REIT?) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.
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