FBR Capital Maintains an 'Outperform' on Equity LifeStyle Properties (ELS); Saving 15 Minutes; Updating Estimates
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Price: $62.65 +0.51%
Rating Summary:
8 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
8 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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FBR Capital maintains an 'Outperform' on Equity LifeStyle Properties (NYSE: ELS), PT $61.50.
FBR analyst says, "Given Equity Lifestyle's reported 1Q11 results, we are updating our FFO and AFFO estimates, as well as introducing our 2014 data. The call did not change our thesis on ELS; core growth continues at a slow, measured pace. The company is increasing efforts around various initiatives that could add performance at the margins (advertising, vertical customer reach, third-party financing, higher vols., etc.). Performance for the various business lines more or less continues to track management's original "stable" guidance. We continue to like the stock as a lowbetahedge with attractively priced growth."
"We are keeping our 2011 and 2012 FFO estimates unchanged at $3.88 and
$4.19, respectively. We are revising our 2013 FFO per share estimate to $4.43
from $4.48 as a result of higher interest expense projections...We are introducing 2014 FFO and AFFO per share estimates of $4.61 and $4.13, respectively."
For more ratings news on Equity LifeStyle Properties click here and for the rating history of Equity LifeStyle Properties click here.
Shares of Equity LifeStyle Properties closed at $56.75 yesterday.
FBR analyst says, "Given Equity Lifestyle's reported 1Q11 results, we are updating our FFO and AFFO estimates, as well as introducing our 2014 data. The call did not change our thesis on ELS; core growth continues at a slow, measured pace. The company is increasing efforts around various initiatives that could add performance at the margins (advertising, vertical customer reach, third-party financing, higher vols., etc.). Performance for the various business lines more or less continues to track management's original "stable" guidance. We continue to like the stock as a lowbetahedge with attractively priced growth."
"We are keeping our 2011 and 2012 FFO estimates unchanged at $3.88 and
$4.19, respectively. We are revising our 2013 FFO per share estimate to $4.43
from $4.48 as a result of higher interest expense projections...We are introducing 2014 FFO and AFFO per share estimates of $4.61 and $4.13, respectively."
For more ratings news on Equity LifeStyle Properties click here and for the rating history of Equity LifeStyle Properties click here.
Shares of Equity LifeStyle Properties closed at $56.75 yesterday.
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