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Last $54.52 USD
Change Today +0.37 / 0.68%
Volume 540.8K
ELS On Other Exchanges
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As of 8:04 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

equity lifestyle properties (ELS) Key Developments

Equity LifeStyle Properties, Inc. Appoints Ann Wallin as Vice President and Chief Accounting Officer

Effective June 15, 2015, Ann Wallin has been appointed Vice President and Chief Accounting Officer of Equity LifeStyle Properties, Inc. and will assume the role of principal accounting officer. Ms. Wallin, 41, served as interim chief financial officer and as chief accounting officer at Nanosphere, since February 2015 and from 2013 to 2015 as its Vice President of Finance and Accounting. From 2004 to 2013 Ms. Wallin served as Director of Internal Audit for Hub Group.

Equity LifeStyle Properties, Inc. Reconfirms Earnings Guidance for the Three Months Ending June 30, 2015 and Year Ending December 31, 2015

Equity LifeStyle Properties, Inc. reconfirmed earnings guidance for the three months ending June 30, 2015 and year ending December 31, 2015. For the three months ending June 30, 2015, the company expects normalized funds from operations per share (fully diluted to be between $0.65 and $0.71. The company reconfirmed funds from operations per share (fully diluted) to be between $0.65 and $0.71. Net income per share (fully diluted) expects to be between $0.33 and $0.39. For the year ending December 31, 2015, the company expects normalized funds from operations per share (fully diluted) to be between $2.95 and $3.05. The company reconfirmed funds from operations per share (fully diluted) to be between $2.76 and $2.86. Net income per share (fully diluted) expects to be between $1.46 and $1.56.

Equity LifeStyle Properties, Inc. Declares Second Quarter Dividend on Common Share and Depositary Share, Payable on July 10, 2015 and June 30, 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 July 10, 2015 to stockholders of record on June 26, 2015. 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 June 30, 2015 to stockholders of record on June 19, 2015.

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.

 

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Industry Analysis

ELS

Industry Average

Valuation ELS Industry Range
Price/Earnings 46.3x
Price/Sales 5.9x
Price/Book 5.9x
Price/Cash Flow 20.1x
TEV/Sales 2.7x
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