Equity Lifestyle Properties, Inc. (NYSE:ELS)

CAPS Rating: 1 out of 5

The Company is a fully integrated owner and operator of lifestyle oriented properties. The Company leases individual developed areas with access to utilities for placement of factory built homes, cottages, cabins or recreational vehicles.


Player Avatar MattH42004 (29.90) Submitted: 6/23/2009 8:29:28 PM : Underperform Start Price: $18.11 ELS Score: -13.23

16%. Thats how much ELS just had to dilute its current shareholders by in order to provide some semblance of financial security and to "repay secured long-term debt and for general corporate uses." So how much did they get for their massive dilution...about 130 million...or about 8% of their 1.6 billion in net debt. Great job guys, for 16% dilution you get to pay down 8% of your ridiculous debt. Owe yea, and they are currently trading at a little over 10x their book value. I don't see this going very well...

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