Equity LifeStyle Properties (NYSE:ELS) Updates Q4 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.730-0.790 for the period, compared to the consensus earnings per share estimate of 0.710. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.890-2.950 EPS.

Equity LifeStyle Properties Stock Down 2.8 %

Shares of NYSE ELS opened at $68.04 on Tuesday. The business has a fifty day moving average of $71.24 and a two-hundred day moving average of $66.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60. The stock has a market cap of $12.69 billion, a PE ratio of 37.18, a PEG ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, July 22nd. 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). The business had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, equities research analysts expect that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.4775 per share. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, September 27th. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ELS. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 target price for the company. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Evercore ISI boosted their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday. Finally, UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.56.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock valued at $6,348,011 over the last quarter. 1.40% of the stock is owned by corporate insiders.

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.