Equity LifeStyle Properties (NYSE:ELS) Updates Q2 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.61-0.67 for the period, compared to the consensus earnings per share estimate of $0.66. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.840-2.940 EPS.

Equity LifeStyle Properties Price Performance

ELS stock traded down $0.33 on Thursday, reaching $60.99. 291,667 shares of the company’s stock were exchanged, compared to its average volume of 1,243,842. The stock has a fifty day moving average of $64.64 and a 200-day moving average of $67.12. Equity LifeStyle Properties has a twelve month low of $60.47 and a twelve month high of $74.04. The firm has a market cap of $11.37 billion, a PE ratio of 33.24, a P/E/G ratio of 3.68 and a beta of 0.69. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.477 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.91 annualized dividend and a yield of 3.13%. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Wall Street Analysts Forecast Growth

ELS has been the topic of several recent research reports. Royal Bank of Canada restated a sector perform rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a hold rating and a $64.00 price objective on the stock. Truist Financial lowered their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating for the company in a research note on Wednesday, January 24th. Finally, Wolfe Research upgraded Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 target price for the company in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $70.15.

About Equity LifeStyle Properties

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.