Equity LifeStyle Properties (NYSE:ELS) Issues Earnings Results

Equity LifeStyle Properties (NYSE:ELS) released its earnings results on Monday. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23), Yahoo Finance reports. The firm had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.73% and a net margin of 23.56%. Equity LifeStyle Properties’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS.

Equity LifeStyle Properties Stock Performance

NYSE:ELS traded down $0.68 during mid-day trading on Wednesday, hitting $65.66. The stock had a trading volume of 998,868 shares, compared to its average volume of 1,232,789. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month high of $74.04. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 3.99 and a beta of 0.77. The company’s 50 day simple moving average is $64.06 and its 200 day simple moving average is $64.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.477 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 2.91%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ELS shares. Evercore ISI increased their target price on Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday. Truist Financial lowered their target price on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday. Finally, Barclays decreased their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.39.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.