With a target price set at $64.00, Zacks has upgraded shares of Equity LifeStyle Properties, Inc (NYSE:ELS) from a hold rating to a buy rating, according to lulegacy. Shares of the real estate investment trust (REIT) opened at $56.87 on Monday, and closed Tuesday, July 28 at $57.07, approaching the 52-week high of $58.11. With a market cap of $4.79 billion and a cost-to-earning ratio of42.06, the 52-week low is $41.44.
As MHProNews reported July 21, 2015 the company beat the average estimate of Zacks Investment Research analysts by $.02 per share. Analysts anticipate ELS will post an earnings per share of $3.01 for the current fiscal year.
Stockholders of record on June 26th, 2015 received a quarterly dividend of $0.375 per share on Friday, July 24, signifying a dividend of $1.50 per year and a yield of 2.64%. In a study report from July 17, theStreet upgraded shares of ELS from a hold rating to a buy rating.
Additionally, disclosed in a filing with the Securities and Exchange Commission (SEC), dated June 23, Director David J. Contis sold 5,000 shares of the company’s stock at $53.65 per share for a net of $268,250.00.
ELS has an ownership interest in a portfolio of 384 manufactured home and recreational vehicle communities across North America comprising 13,113 home sites. ##
(Photo credit: MHVillage–California Hawaiian manufactured home community, San Jose, CA)
Article submitted by Matthew J. Silver to Daily business News-MHProNews.