Equity Lifestyle Properties Up 3.51% To $67.50 After Earnings

Equity Lifestyle Properties (ELS) said after close Monday that it earned $0.71 per share in quarter three 2023.

On the revenue line, the company reported $388.8 million, beating estimates by $1.1 million.

In the same quarter a year ago, the company earned $0.7 per share on revenue of $381 million.

The stock is up 3.51% to $67.50 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Equity Lifestyle Properties has performed a little below average during the past few months. Before the report, Equity Lifestyle Properties received a Long-Term Technical Rank by InvestorsObserver of 45, putting it in the bottom half of stocks. The firm set a 52-week high on February 2, 2023 at $74.4 and set a 52-week low on October 21, 2022 at $56.91.

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.