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

Equity LifeStyle Properties (NYSE:ELS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.860-2.960 for the period, compared to the consensus estimate of 2.900. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY24 guidance to $2.86-2.96 EPS.

Equity LifeStyle Properties Stock Up 0.4 %

ELS traded up $0.25 during midday trading on Wednesday, reaching $66.59. The company’s stock had a trading volume of 155,942 shares, compared to its average volume of 1,226,811. The stock’s 50-day moving average is $64.06 and its 200-day moving average is $64.84. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $74.04. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.99 and a beta of 0.77. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.73% and a net margin of 23.56%. The business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. During the same period last year, the firm posted $0.66 EPS. Equity LifeStyle Properties’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Equity LifeStyle Properties will post 2.9 EPS for the current year.

Equity LifeStyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a dividend of $0.477 per share. The ex-dividend date was Friday, June 28th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.87%. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Analyst Ratings Changes

ELS has been the subject of a number of recent research reports. Truist Financial cut their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a hold rating for the company in a research note on Thursday, May 2nd. Evercore ISI boosted their price target on Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an in-line rating in a research note on Tuesday. Finally, Barclays cut their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating for the company in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties currently has an average rating of Hold and an average target price of $68.61.

About Equity LifeStyle Properties

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.