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Last $52.38 USD
Change Today +0.15 / 0.29%
Volume 333.3K
ELS On Other Exchanges
Symbol
Exchange
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Frankfurt
As of 8:04 PM 05/6/15 All times are local (Market data is delayed by at least 15 minutes).

equity lifestyle properties (ELS) Key Developments

Equity LifeStyle Properties Seeks Acquisitions

Marguerite Nader, President & chief executive officer of Equity LifeStyle Properties, Inc. (NYSE:ELS) said, "And then, just with respect to the broader acquisition pipeline, it's kind of the same as we've always said. We're working with interested buyers, but it's difficult to judge timing as to when closings would happen. Yes. I mean, I think that we're always looking for new acquisition and new opportunities. But I think, as we've often said, that getting bigger just to get bigger doesn't make sense for us. We are concentrating our efforts on both external growth and internal growth as we look to expansion sites and expanding our customer reach."

Equity LifeStyle Properties, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year Second Quarter Ending June 30, 2015 and Full Year Ending December 31, 2015

Equity LifeStyle Properties, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $208,414,000 against $196,745,000 a year ago. Net income available for common shares was $27,185,000 against $38,099,000 a year ago. Funds flow operations was $59,070,000 or $0.64 per diluted share against $71,356,000 or $0.78 per share diluted a year ago. Net income per common share basic and diluted were $0.32 against $0.46 a year ago. Normalized funds flow operations were $76,493,000 or $0.83 per diluted share against $71,781,000 or $0.79 per basic and diluted a share year ago. Net income available for stockholders were impacted by the early debt retirement expense of approximately $17.0 million. For the second quarter ending June 30, 2015, the company expects normalized funds flow operations of $62.6 million, net income available to common shares of $30.1 million, funds flow operations of $62.6 million, normalized funds flow operations per share of $0.65 to $0.71. Funds flow operations per share will be in the range of $0.65 to $0.71. Net income per share fully diluted will be in the range of $0.33 to $0.39. Depreciation on real estate and other to be $26.6 million. Depreciation on rental homes of $2.7 million. For the year ending December 31, 2015, the company expects normalized funds flow operations of $275.6 million or $2.95 to $3.05 per share. Net income available to common shares will be $128.1 million. Net income per common share will be $1.46 to $1.56. Funds flow from operations will be $258.2 million or $2.76 to $2.86 per diluted share. Depreciation on real estate and other to be $105.4 million. Depreciation on rental homes of $10.9 million.

Equity LifeStyle Properties, Inc., Q1 2015 Earnings Call, Apr 21, 2015

Equity LifeStyle Properties, Inc., Q1 2015 Earnings Call, Apr 21, 2015

Equity LifeStyle Properties, Inc. Announces Executive Changes

On March 13, 2015, John Los resigned his position as Senior Vice President and Chief Accounting Officer of Equity LifeStyle Properties, Inc. Mr. Los resigned in order to pursue an opportunity at a different company. His resignation was not the result of any disagreement between him and the company regarding accounting operations, policies or practices. Immediately following Mr. Los' resignation, Paul Seavey, Executive Vice President, Chief Financial Officer and Treasurer, assumed the responsibilities of principal accounting officer.

Equity Lifestyle Properties, Inc. Declares Quarter Dividend on Common Shares and Series C Cumulative Redeemable Perpetual Preferred Stock, Payable on April 10, 2015 and March 31, 2015 Respectively

The board of directors of Equity LifeStyle Properties, Inc. declared a dividend of $0.375 per common share, representing, on an annualized basis, a dividend of $1.50 per common share. The dividend will be paid on April 10, 2015 to stockholders of record on March 27, 2015. The board of directors also declared a dividend of $0.421875 per depositary share (each representing 1/100 of a share of 6.75% Series C Cumulative Redeemable Perpetual Preferred Stock), which represents, on an annualized basis, a dividend of $1.6875 per depositary share. The dividend will be paid on March 31, 2015 to stockholders of record on March 20, 2015.

 

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Industry Analysis

ELS

Industry Average

Valuation ELS Industry Range
Price/Earnings 44.4x
Price/Sales 5.6x
Price/Book 5.7x
Price/Cash Flow 19.2x
TEV/Sales 2.4x
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