Equity LifeStyle Properties (NYSE:ELS) Releases Earnings Results, Misses Estimates By $0.28 EPS

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

Equity LifeStyle Properties Stock Up 1.0 %

Shares of ELS traded up $0.68 on Tuesday, hitting $68.70. 1,299,432 shares of the stock traded hands, compared to its average volume of 1,206,804. The company has a market capitalization of $12.81 billion, a PE ratio of 37.70, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The business has a 50 day simple moving average of $71.24 and a 200 day simple moving average of $66.74. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $76.60.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.4775 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.78%. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's dividend payout ratio (DPR) is 104.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ELS shares. Evercore ISI increased their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a research note on Monday. Royal Bank of Canada reissued a "sector perform" rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.60.

Insider Activity at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 260,936 shares of the company's stock, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred 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 of the company's stock, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock valued at $6,348,011 over the last 90 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.