Last $51.09 USD
Change Today -0.12 / -0.23%
Volume 238.0K
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As of 5:15 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

equity lifestyle properties (ELS) Snapshot

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12/22/14 - $51.71
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equity lifestyle properties (ELS) Details

Equity LifeStyle Properties, Inc. is a publicly owned real estate investment trust (REIT). The firm engages in the ownership and operation of lifestyle oriented properties. Its portfolio of properties include various amenities and common facilities, such as a clubhouse, a swimming pool, laundry facilities, and cable television service, sauna/whirlpool spas, golf courses, tennis, shuffleboard and basketball courts, and exercise rooms. The firm leases developed sites to owners of manufactured homes referred to as resort homes, park models referred to as resort cottages, and recreational vehicles. It primarily invests in the markets of the United States. The firm primarily invests in land with lower maintenance costs and customer turnover costs, high quality real estate in and around major metropolitan areas, high barriers to entry, retirement and vacation destinations, growth markets, and appreciating component of real estate2. It was formerly known as Home Communities, Inc. The firm was founded in 1992 and is based in Chicago, Illinois with additional offices in Clearwater, Florida, Phoenix, Arizona, and Aurora, Colorado.

3,700 Employees
Last Reported Date: 02/24/14
Founded in 1992

equity lifestyle properties (ELS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $375.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $311.4K
Executive Vice President of Property Manageme...
Total Annual Compensation: $350.0K
Executive Vice President of Asset Management
Total Annual Compensation: $311.4K
Compensation as of Fiscal Year 2013.

equity lifestyle properties (ELS) Key Developments

Equity LifeStyle Properties, Inc. Enters into $395 Million New Mortgage Loans Agreement

On December 12, 2014, Equity LifeStyle Properties, Inc. entered into agreements to obtain approximately $395 million in new mortgage loans from institutional lenders, subject to customary approvals and conditions. The loans will be secured by mortgages on 26 manufactured home and RV properties and, in total, are expected to bear a weighted average fixed interest rate of approximately 4.1% per annum, and to have a weighted average maturity of approximately 21 years. Proceeds from the financing will be used to repay secured debt with a weighted average effective interest rate of approximately 5.1% and costs related to the early repayment of debt. The debt to be repaid includes approximately $231 million maturing in 2015 and approximately $142 million maturing in 2016. The company expects to pay approximately $21 million in debt prepayment costs. The financing is expected to close in the first quarter of 2015.

Equity LifeStyle Properties, Inc. Announces Court Grants Relief in California Lawsuit

On December 5, 2014, in the California Superior Court for Santa Clara County, Case No. 109CV140751, involving Equity LifeStyle Properties, Inc.'s California Hawaiian property, the Court ruled on its post-trial motions and granted the company a new trial on the issue of damages while upholding the jury's determination of liability. As grounds for the ruling, the Court cited excessive damages and insufficiency of the evidence to support the verdict as to the amount of damages awarded by the jury. The court's ruling overturns the April 2014 verdicts of $15.3 million in compensatory damages and $95.8 million in punitive damages. As grounds for the ruling, the Court cited excessive damages and insufficiency of the evidence to support the verdict as to the amount of damages awarded by the jury. The company intend to continue to vigorously defend in the litigation.

Equity LifeStyle Properties, Inc. Announces Dividend for the Fourth Quarter of 2014, Payable on January 9, 2015; Declares Dividend on Preferred Stock, Payable on December 31, 2014

The board of directors of Equity LifeStyle Properties, Inc. approved setting the annual dividend rate for 2015 at $1.50 per common share, an increase of $0.20 over the current $1.30 per common share for 2014. The company's Board of Directors also declared the fourth quarter 2014 dividend of $0.325 per common share, representing, on an annualized basis, a dividend of $1.30 per common share. The dividend will be paid on January 9, 2015 to stockholders of record on December 26, 2014. The company's also declared a dividend of $0.421875 per depositary share (each representing 1/100 of a share of the company's 6.75% Series C Cumulative Redeemable Perpetual Preferred Stock) which represents, on an annualized basis, a dividend of $1.6875 per depositary share. The dividend will be paid on December 31, 2014 to stockholders of record on December 12, 2014.


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Price/Earnings 36.9x
Price/Sales 5.6x
Price/Book 5.5x
Price/Cash Flow 18.2x
TEV/Sales 2.3x

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