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 Stock Performance

Shares of ELS traded down $1.95 during mid-day trading on Monday, hitting $68.02. 1,758,393 shares of the company’s stock were exchanged, compared to its average volume of 1,206,151. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $76.60. The stock’s 50-day simple moving average is $71.30 and its 200-day simple moving average is $66.70. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). The company had revenue of $380.00 million during the quarter, compared to analyst estimates 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 was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, equities research analysts expect that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is 104.37%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELS shares. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Truist Financial boosted their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI raised their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research note on Thursday. They issued a “hold” rating and a $72.00 price target on the stock. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Hold” and a consensus target price of $71.56.

Insider Activity

In other news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties 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 transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock valued at $6,348,011 over the last quarter. 1.40% of the stock is owned by company 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.