Back to top

Analyst Blog

Equity LifeStyle Properties Inc. (ELS - Snapshot Report), a real estate investment trust (REIT), announced the purchase of two properties in Texas for $25 million late last week. The properties - Victoria Palms Resort and Alamo Palms – are located in the Rio Grande Valley. The buyout of the two properties, that include around 1,765 sites and spans approximately 175 acres, were financed with the company’s available cash.

Particularly, Victoria Palms is an age restricted 1,122 site property comprising 270 manufactured home sites and 853 recreational vehicle (RV) sites. Alamo Palms is also an age restricted 643 site property including 293 manufactured home sites and 350 RV sites.

Headquartered in Chicago, Illinois, Equity LifeStyle Properties Inc. is a self-administered, self-managed REIT. It is a fully integrated owner and operator of lifestyle-oriented properties and leases individual developed areas or sites with access to utilities for placement of factory built homes, cottages, cabins or RVs.

As of December 28, 2012, Equity LifeStyle owns or has an interest in 383 quality properties in 32 states and British Columbia consisting of 142,679 sites. Customers may lease individual sites or buy right-to-use contracts offering customers the right to use specific Properties for limited stays.

The acquisition of the two properties in Texas is a strategic fit for Equity LifeStyle. Particularly, it enhances the company’s South Texas portfolio and boosts its market presence.

Equity LifeStyle currently has a Zacks #2 Rank (implying a short-term Buy rating). One of its competitors, Home Properties Inc. (HME - Snapshot Report) also holds a Zacks #2 Rank.
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
ERBA DIAGNO… ERB 3.84 +8.17%
BANCO DO BR… BDORY 14.39 +3.15%
AIR INDUSTR… AIRI 9.89 +3.11%
GREEN PLAIN… GPRE 45.15 +3.06%
WEATHERFORD… WFT 23.58 +2.83%