Hot Stock Analysis: Equity LifeStyle Properties, Inc. (NYSE: ELS)

On Tuesday, Shares of Equity LifeStyle Properties, Inc. (NYSE: ELS) rose 1.16% to $84.71. The stock recorded $82.61 as its minimum price and hit the max level of $84.88, during its most recent trading session. It traded total volume of 519,262 shares higher than the average volume of 401.18K shares.

Equity LifeStyle Properties, Inc. (ELS) recently declared results for the quarter and year ended December 31, 2017.

Financial Results for the Quarter and Year Ended December 31, 2017

For the quarter ended December 31, 2017, total revenues increased $16.00M, or 7.5 percent, to $230.00M contrast to $214.00M for the same period in 2016. Net income available for Common Stockholders for the quarter ended December 31, 2017 increased $8.00M, or $0.08 per Common Share, to $45.00M, or $0.51 per Common Share, contrast to $37.00M, or $0.43 per Common Share, for the same period in 2016.

For the year ended December 31, 2017, total revenues increased $54.90M, or 6.3 percent, to $925.30M contrast to $870.40M for the same period in 2016. Net income available for Common Stockholders for the year ended December 31, 2017 increased $25.90M, or $0.25 per Common Share, to $189.90M, or $2.17 per Common Share, contrast to $164.00M, or $1.92 per Common Share, for the same period in 2016.

Non-GAAP Financial Measures and Portfolio Performance:

For the quarter ended December 31, 2017, Funds from Operations (“FFO”) available for Common Stock and OP Unit holders increased $6.90M, or $0.06 per Common Share, to $79.40M, or $0.84 per Common Share, contrast to $72.50M, or $0.78 per Common Share, for the same period in 2016. For the year ended December 31, 2017, FFO available for Common Stock and OP Unit holders increased $28.90M, or $0.28 per Common Share, to $331.70M or $3.55 per Common Share, contrast to $302.80M, or $3.27 per Common Share, for the same period in 2016.

For the quarter ended December 31, 2017, Normalized Funds from Operations (“Normalized FFO”) available for Common Stock and OP Unit holders increased $7.40M, or $0.07 per Common Share, to $82.60M, or $0.88 per Common Share, contrast to $75.20M, or $0.81 per Common Share, for the same period in 2016. For the year ended December 31, 2017, Normalized FFO available for Common Stock and OP Unit holders increased $29.40M, or $0.29 per Common Share, to $335.90M, or $3.60 per Common Share, contrast to $306.50M, or $3.31 per Common Share, for the same period in 2016.

For the quarter ended December 31, 2017, property operating revenues, apart from deferrals, increased $12.40M to $215.30M contrast to $202.90M for the same period in 2016. For the year ended December 31, 2017, property operating revenues, apart from deferrals, increased $56.80M to $875.90M contrast to $819.10M for the same period in 2016. For the quarter ended December 31, 2017, income from property operations, apart from deferrals and property management, increased $5.30M to $125.00M contrast to $119.70M for the same period in 2016. For the year ended December 31, 2017, income from property operations, apart from deferrals and property management, increased $28.90M to $508.80M contrast to $479.90M for the same period in 2016.

Balance Sheet Activity:

During the quarter, we sold 895,104 shares of common stock as part of our ATM equity offering program at a weighted average price of $87.88, resulting in net cash proceeds of $77.70M.

On October 16, 2017, we reached a $204.40M secured facility with Fannie Mae, maturing in 2037 and bearing interest at 3.97 percent per annum. We used the proceeds to pay, in full, $202.20M of loans counting $2.70M in early debt retirement costs. These loans were planned to mature in 2018.

Hurricane Irma:

During the quarter ended December 31, 2017, we recorded expense of $4.30M related to debris removal and cleanup following Hurricane Irma. In addition, we recorded insurance recovery revenue of $5.50M, which includes insurance proceeds received as a result of our first claim submission. During the quarter ended December 31, 2017, operations at our Florida Keys RV resorts were interrupted; therefore we designated them as Non-core properties. This change is reflected throughout the results presented in this release and in our Supplemental Financial Information package.

ELS has the market capitalization of $7.58B and its EPS growth ratio for the past five years was 32.00%. The return on assets ratio of the Company was 5.40% while its return on investment ratio stands at 9.30%. Price to sales ratio was 8.24 while 99.20% of the stock was owned by institutional investors.

Melinda Duque

Finance Reporter

I am Melinda Duque and I give “The Stock Gem” an insight into the most recent news hitting the “Financial” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

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