Equity Lifestyle Properties Up 1.02% To $66.41 After Earnings

Tuesday, April 18, 2023 - Equity Lifestyle Properties (ELS) reported upside earnings and revenues today.

The company reported an EPS of $0.74. The firm reported an EPS of $0.72 in the year-ago quarter. The increase in Equity Lifestyle Properties's annual growth rate represents how the business is performing decently amid recent economic conditions.

Consensus estimates for Equity Lifestyle Properties revenue averaged out to $368.1 million, with the business managing to beat those expectations with reported first-quarter revenue of $370 million. The $2 million (1%) positive revenue surprise led to 3% growth year-over-year as the firm reported revenue of $360.2 million in its year-ago quarter. The higher earnings growth compared to revenue points to Equity Lifestyle Properties improving its profit margin.

The stock is up 1.02% to $66.41 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Equity Lifestyle Properties a Bullish Sentiment Rank from InvestorsObserver.

Equity Lifestyle Properties has performed a little above average during the past few months. Before the report, Equity Lifestyle Properties received a Long-Term Technical Rank by InvestorsObserver of 61, putting it in the top half of stocks. The firm set a 52-week low on October 21, 2022 at $56.91 and set a 52-week high on April 21, 2022 at $83.8.

Equity Lifestyle Properties Inc is a real estate investment trust primarily engaged in the ownership and operation of manufactured home communities and recreational vehicle (RV) campgrounds throughout the US. The vast majority of the company's real estate portfolio is comprised of sites located near bodies of water in Florida, the Northeastern region of the US, Arizona, and California. Equity Lifestyle derives nearly all of its income in the form of rental revenue from its properties. This income is pretty evenly split between its community sites and resort sites in the Florida, Northeastern US, Arizona, and California markets. Equity Lifestyle's site offerings mainly attract retirees, vacationing families, and second homeowners who lease on an annual basis.