Brokerages Expect Equity LifeStyle Properties, Inc. (NYSE:ELS) Will Post Earnings of $0.61 Per Share

Wall Street brokerages expect that Equity LifeStyle Properties, Inc. (NYSE:ELS) will post $0.61 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Equity LifeStyle Properties’ earnings. Equity LifeStyle Properties posted 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 business is scheduled to issue its next quarterly earnings report after the market closes on Monday, October 18th.

According to Zacks, 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 business will report earnings of $2.61 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Equity LifeStyle Properties.

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

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price target on Equity LifeStyle Properties from $74.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research downgraded Equity LifeStyle Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 5th. Barclays began coverage on Equity LifeStyle Properties in a report on Wednesday, September 1st. They issued an “overweight” rating and a $92.00 target price on the stock. Royal Bank of Canada raised their target price on Equity LifeStyle Properties from $75.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, July 21st. Finally, Colliers Securities reiterated a “buy” rating on shares of Equity LifeStyle Properties in a research note on Thursday, September 2nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $81.50.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Equity LifeStyle Properties by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 24,427,262 shares of the real estate investment trust’s stock worth $1,815,189,000 after purchasing an additional 121,998 shares during the last quarter. FMR LLC raised its position in shares of Equity LifeStyle Properties by 18.3% in the 2nd quarter. FMR LLC now owns 14,413,129 shares of the real estate investment trust’s stock worth $1,071,039,000 after acquiring an additional 2,226,950 shares in the last quarter. State Street Corp grew its stake in shares of Equity LifeStyle Properties by 3.0% in the 2nd quarter. State Street Corp now owns 7,207,820 shares of the real estate investment trust’s stock valued at $538,145,000 after buying an additional 208,199 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Equity LifeStyle Properties by 58.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,545,730 shares of the real estate investment trust’s stock valued at $486,413,000 after purchasing an additional 2,417,572 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Equity LifeStyle Properties by 0.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,371,397 shares of the real estate investment trust’s stock valued at $399,148,000 after purchasing an additional 39,446 shares during the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

Shares of Equity LifeStyle Properties stock traded up $0.39 on Friday, hitting $84.18. The stock had a trading volume of 17,220 shares, compared to its average volume of 818,418. Equity LifeStyle Properties has a twelve month low of $57.93 and a twelve month high of $88.47. The business’s 50 day moving average is $82.66 and its two-hundred day moving average is $76.36. 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 stock has a market cap of $15.35 billion, a price-to-earnings ratio of 63.73, a price-to-earnings-growth ratio of 6.49 and a beta of 0.50.

The business also recently announced a quarterly dividend, which was paid on Friday, October 8th. Investors of record on Friday, September 24th were given a dividend of $0.363 per share. This represents a $1.45 annualized dividend and a yield of 1.72%. The ex-dividend date was Thursday, September 23rd. Equity LifeStyle Properties’s dividend payout ratio is currently 66.82%.

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.

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