Equity LifeStyle Properties, Inc. (NYSE:ELS) Announces Quarterly Dividend of $0.48

Equity LifeStyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Friday, December 27th will be paid a dividend of 0.477 per share by the real estate investment trust on Friday, January 10th. This represents a $1.91 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, December 27th.

Equity LifeStyle Properties has increased its dividend by an average of 18.9% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. Equity LifeStyle Properties has a payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Equity LifeStyle Properties to earn $3.10 per share next year, which means the company should continue to be able to cover its $1.91 annual dividend with an expected future payout ratio of 61.6%.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $67.78 on Wednesday. The company has a fifty day simple moving average of $69.81 and a 200-day simple moving average of $69.12. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 3.61 and a beta of 0.77. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.28). The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. On average, equities analysts anticipate that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Analysts Set New Price Targets

ELS has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Robert W. Baird boosted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Compass Point raised their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Truist Financial upped their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

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.