Equity LifeStyle Properties (NYSE:ELS) Issues Q4 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.73-$0.79 for the period, compared to the consensus estimate of $0.74. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.890-2.950 EPS.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $68.70 on Wednesday. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $71.19 and its 200 day moving average is $66.78. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter last year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts forecast that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.4775 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.78%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Analysts Set New Price Targets

ELS has been the topic of several recent research reports. Evercore ISI increased their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday. Robert W. Baird raised their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 target price on the stock. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.60.

Insider Buying and Selling at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul Seavey sold 31,988 shares of the 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 sale, 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 ownership of the stock. 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 in the last ninety days. Corporate 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.