Equity LifeStyle Properties (NYSE:ELS) Updates Q4 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.730-0.790 for the period, compared to the consensus earnings per share estimate of 0.710. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.890-2.950 EPS.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ELS shares. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a report on Thursday. They set a “hold” rating and a $72.00 price objective for the company. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Evercore ISI raised their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.56.

Equity LifeStyle Properties Stock Performance

Shares of ELS traded down $1.95 during trading hours on Monday, hitting $68.02. The company’s stock had a trading volume of 1,758,393 shares, compared to its average volume of 1,206,151. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 3.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The business has a 50 day simple moving average of $71.30 and a two-hundred day simple moving average of $66.70. 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 posted its earnings results 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 business had revenue of $380.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. On average, equities analysts expect that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.4775 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Insider Activity

In other news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties 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 sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. 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 ninety days, insiders sold 85,808 shares of company stock worth $6,348,011. 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.