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

Equity LifeStyle Properties (NYSE:ELS) updated its fourth quarter earnings guidance on Monday. 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.

Analyst Ratings Changes

ELS has been the topic of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI upped their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Truist Financial boosted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus price target of $71.56.

Equity LifeStyle Properties Trading Down 2.8 %

Shares of NYSE:ELS opened at $68.04 on Tuesday. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two 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 company has a market cap 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’s 50-day moving average price is $71.24 and its 200 day moving average price is $66.74.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results 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 business had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. Sell-side analysts anticipate that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.81%. This is a boost 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%.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company’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 sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 260,936 shares in the company, 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. Over the last 90 days, insiders have sold 85,808 shares of company stock valued at $6,348,011. 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.