Earnings Review and Free Research Report: Equity LifeStyle’s Quarterly Revenue Grew 5.3%, FFO Climbed 8%

LONDON, UK / ACCESSWIRE / July 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Equity LifeStyle Properties, Inc. (NYSE: ELS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ELS, following the Company’s posting of its second quarter fiscal 2017 earnings results on July 17, 2017. The resort community operator’s results met market expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Earnings Reviewed

For the quarter ended June 30, 2017, Equity LifeStyle’s total revenue grew 5.3% to $221.3 million compared to $210.1 million for Q2 2016. For the six months ended June 30, 2017, Equity LifeStyle’s total revenues increased 5.5%, to $453.7 million compared to $430.2 million for the same period in 2016.

For Q2 2017, Equity LifeStyle reported adjusted EBITDA of $100.8 million compared to adjusted EBITDA of $95.9 million in Q2 2016.

Equity LifeStyle’s net income available to common stockholders for Q2 2017 increased $4.0 million, or $0.03 per common share, to $39.5 million, or $0.45 per common share, compared to $35.5 million, or $0.42 per common share, for Q2 2016. For H1 2017, the Company’s net income available to common stockholders increased $10.3 million, or $0.10 per common share, to $96.4 million, or $1.11 per common share, compared to $86.1 million, or $1.01 per common share, for H1 2016.

Financial Measures and Portfolio Performance

During Q2 2017, Equity LifeStyle’s Funds from Operations (“FFO”) available for Common Stock and OP Unit holders increased $6.0 million, or $0.06 per Common Share, to $74.9 million, or $0.81 per Common Share, compared to $68.9 million, or $0.75 per Common Share, in Q2 2016. The Company’s FFO numbers matched analysts’ expectations of $0.81 per share.

In the reported quarter, the Company’s Normalized FFO available for Common Stock and OP Unit holders grew $5.8 million, or $0.06 per Common Share, to $75.1 million, or $0.81 per Common Share, versus $69.3 million, or $0.75 per Common Share, for the prior year’s comparable quarter.

For Q2 2017, Equity LifeStyle’s property operating revenues, excluding deferrals, increased $14.0 million to $211.4 million compared to $197.4 million for Q2 2016. The Company’s income from property operations, excluding deferrals and property management, increased $6.6 million to $120.0 million in the reported quarter compared to $113.4 million for the year ago same period

Equity LifeStyle’s Core property operating revenues, excluding deferrals, increased approximately 5.5% and Core income from property operations, excluding deferrals and property management, increased approximately 4.8% on a y-o-y basis compared to the same period in 2016.

Investment Activity

During Q2 2017, Equity LifeStyle completed the acquisition of Paradise Park Largo, a 108-site manufactured home community located in Largo, Florida. The purchase price of approximately $8.0 million was funded with available cash, loan assumption of $3.6 million, and new loan proceeds of $2.3 million. In the reported quarter, the Company entered into a joint venture agreement to purchase Crosswinds Mobile Home Park, a 376-site manufactured home community located in St. Petersburg, Florida. Equity LifeStyle’s ownership interest in the project is 49% and the purchase price of the Property was $18.4 million.

As of July 17, 2017, Equity LifeStyle owns or has an interest in 393 quality properties in 32 states and British Columbia consisting of 147,107 sites.

Stock Performance

On Tuesday, July 18, 2017, the stock closed the trading session at $86.00, marginally down 0.37% from its previous closing price of $86.32. A total volume of 651.79 thousand shares has exchanged hands, which was higher than the 3-month average volume of 368.35 thousand shares. Equity LifeStyle Properties’ stock price rallied 5.26% in the last three months, 17.61% in the past six months, and 6.17% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 19.28%. The stock is trading at a PE ratio of 43.43 and has a dividend yield of 2.27%. At Tuesday’s closing price, the stock’s net capitalization stands at $7.41 billion.

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