Equity LifeStyle Properties (NYSE:ELS) Releases FY 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.890-2.950 for the period, compared to the consensus estimate of 2.890. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its Q4 guidance to $0.73-$0.79 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELS. Truist Financial boosted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research note on Thursday. They set a "hold" rating and a $72.00 price objective on the stock. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, 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 note on Monday. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of "Hold" and an average price target of $71.56.

Equity LifeStyle Properties Price Performance

NYSE ELS traded down $1.93 during trading on Monday, reaching $68.04. The company's stock had a trading volume of 1,798,190 shares, compared to its average volume of 1,206,347. The stock has a market capitalization of $12.69 billion, a PE ratio of 37.18, 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 current ratio of 0.03 and a quick ratio of 0.03. The firm has a fifty day moving average of $71.24 and a 200 day 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 (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million for 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%. Equity LifeStyle Properties's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. Analysts expect that Equity LifeStyle Properties will post 2.92 EPS 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. Stockholders of record on Friday, September 27th were given a dividend of $0.4775 per share. 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 2.81%. Equity LifeStyle Properties's dividend payout ratio is 104.37%.

Insider Activity

In other news, CEO Marguerite M. Nader sold 33,000 shares of the 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 transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 260,936 shares of the company's stock, valued at $19,705,886.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is currently owned by 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.