Equity LifeStyle Properties (NYSE:ELS) Issues Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Equity LifeStyle Properties (NYSE:ELS) released its quarterly earnings results on Monday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.28), Yahoo Finance reports. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The firm had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. During the same period last year, the firm earned $0.71 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock traded up $0.92 during midday trading on Tuesday, reaching $68.94. 167,723 shares of the stock traded hands, compared to its average volume of 1,201,256. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $71.24 and a two-hundred day moving average price of $66.74. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.4775 dividend. The ex-dividend date was Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.77%. Equity LifeStyle Properties’s payout ratio is 104.37%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ELS. Truist Financial lifted their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Robert W. Baird boosted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.60.

Insider Buying and Selling at Equity LifeStyle Properties

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

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.