Equity LifeStyle Properties (NYSE:ELS) Posts Quarterly Earnings Results

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

Equity LifeStyle Properties Trading Up 2.8 %

Equity LifeStyle Properties stock opened at $70.58 on Thursday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $71.17 and a 200 day moving average of $66.81. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 38.57, a P/E/G ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a 12-month low of $59.82 and a 12-month high of $76.60.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.4775 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Analysts Set New Price Targets

Several equities analysts recently commented on ELS shares. Evercore ISI boosted their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday. Royal Bank of Canada reiterated 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. Robert W. Baird upped their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Compass Point lifted their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.40.

Insider Activity

In other Equity LifeStyle Properties news, 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 transaction of $2,492,160.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 over 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.