Equity LifeStyle Properties, Inc. (NYSE:ELS – Get Rating)’s share price fell 4.2% during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $69.90 and last traded at $70.08. 6,535 shares were traded during mid-day trading, a decline of 99% from the average session volume of 911,071 shares. The stock had previously closed at $73.13.
The real estate investment trust reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). Equity LifeStyle Properties had a return on equity of 19.91% and a net margin of 20.97%. The firm had revenue of $365.31 million for the quarter, compared to analyst estimates of $331.29 million. During the same quarter last year, the firm earned $0.61 EPS. The company’s revenue was up 10.7% on a year-over-year basis.
Equity LifeStyle Properties Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 24th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, June 23rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 107.89%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on ELS shares. Truist Financial started coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, May 10th. They set a “buy” rating and a $78.00 price objective for the company. StockNews.com assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wolfe Research began coverage on shares of Equity LifeStyle Properties in a research note on Friday. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.20.
Hedge Funds Weigh In On Equity LifeStyle Properties
Several institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB lifted its holdings in shares of Equity LifeStyle Properties by 7.4% during the fourth quarter. Nordea Investment Management AB now owns 75,697 shares of the real estate investment trust’s stock worth $6,601,000 after buying an additional 5,193 shares during the last quarter. PFG Advisors grew its position in Equity LifeStyle Properties by 19.5% in the fourth quarter. PFG Advisors now owns 3,710 shares of the real estate investment trust’s stock valued at $325,000 after acquiring an additional 605 shares during the period. Russell Investments Group Ltd. grew its position in Equity LifeStyle Properties by 9.8% in the fourth quarter. Russell Investments Group Ltd. now owns 235,114 shares of the real estate investment trust’s stock valued at $20,605,000 after acquiring an additional 21,040 shares during the period. Huntington National Bank grew its holdings in shares of Equity LifeStyle Properties by 28.6% during the fourth quarter. Huntington National Bank now owns 665 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 148 shares during the last quarter. Finally, Aurora Investment Managers LLC. grew its holdings in shares of Equity LifeStyle Properties by 3.6% during the fourth quarter. Aurora Investment Managers LLC. now owns 12,432 shares of the real estate investment trust’s stock worth $1,090,000 after purchasing an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.
Equity LifeStyle Properties Stock Down 7.1 %
The firm has a fifty day moving average price of $72.24 and a 200 day moving average price of $75.64. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.37. The company has a market cap of $12.64 billion, a P/E ratio of 45.13, a PEG ratio of 5.27 and a beta of 0.60.
Equity LifeStyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.