Upcoming AWS Coverage on Avalonbay Communities Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 19, 2017 / Active Wall St. announces its post-earnings coverage on Equity LifeStyle Properties, Inc. (NYSE: ELS). The Company posted its first quarter fiscal 2017 financial results on April 17, 2017. The resort community operator exceeded market expectations. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of Equity LifeStyle Properties' competitors within the REIT - Residential space, Avalonbay Communities, Inc. (NYSE: AVB), announced on March 30, 2017, that it will release its Q1 2017 earnings on April 26, 2017 after the market close. The Company will hold a conference call on April 27, 2017 at 1:00 PM ET to discuss its Q1 2017 results. AWS will be initiating a research report on Avalonbay Communities in the coming days.

Today, AWS is promoting its earnings coverage on ELS; touching on AVB. Get our free coverage by signing up to: http://www.activewallst.com/register/

Earnings Reviewed

For the quarter ended March 31, 2017, Equity LifeStyle's total revenues increased $12.3 million, or 5.6%, to $232.4 million compared to $220.1 million for Q1 FY16.

For Q1 FY17, Equity LifeStyle's net income available for Common Stockholders increased $6.3 million, or $0.05 per common share, to $56.9 million, or $0.65 per Common Share, compared to $50.6 million, or $0.60 per Common Share, for the same period in 2016.

Portfolio Performance

For the quarter ended March 31, 2017, Equity LifeStyle's Funds from Operations ("FFO") available for Common Stock and OP Unit holders increased $8.5 million, or $0.08 per common share, to $93.1 million or $1.00 per common share, compared to $84.6 million, or $0.92 per common share, for the same period in 2016.

Equity LifeStyle's normalized Funds from Operations ("Normalized FFO") available for Common Stock and OP Unit holders increased $8.4 million, or $0.08 per common share, to $93.2 million, or $1.00 per common share, for Q1 FY17 compared to $84.8 million, or $0.92 per common share, for Q1 FY16. Normalized FFO came in above analysts' consensus of $0.98 per share.

During Q1 FY17, Equity LifeStyle's property operating revenues, excluding deferrals, increased $14.6 million to $222.0 million compared to $207.4 million for Q1 FY16. For the quarter ended March 31, 2017, the Company's income from property operations, excluding deferrals and property management, increased $8.4 million to $135.6 million compared to $127.2 million for the year ago comparable period.

Equity LifeStyle's Core property operating revenues, excluding deferrals, increased approximately 4.3% for Q1 FY17 and Core income from property operations, excluding deferrals and property management, increased approximately 3.8% on y-o-y basis.

As of April 17, 2017, Equity LifeStyle own or have an interest in 391 quality properties in 32 states and British Columbia consisting of 146,626 sites.

Balance Sheet Activity

During the reported quarter, Equity LifeStyle paid off one loan of approximately $21.1 million using available cash, with an interest rate of 5.76% per annum, secured by one manufactured home community.

Outlook

For Q2 FY17, Equity Lifestyle is forecasting per-share funds from operations in the range of $0.77 per share to $0.83 per share. The Company expects full-year funds from operations in the range of $3.51 to $3.61 per share.

Stock Performance

On Tuesday, April 18, 2017, the stock closed the trading session at $81.70, climbed 2.27% from its previous closing price of $79.89. A total volume of 568.73 thousand shares have exchanged hands, which was higher than the 3-month average volume of 334.33 thousand shares. Equity LifeStyle Properties' stock price rallied 12.44% in the last three months, 11.28% in the past six months, and 17.86% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 14.03%. The stock is trading at a PE ratio of 42.49 and has a dividend yield of 2.39%.

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SOURCE: Active Wall Street