Equity LifeStyle Properties (NYSE:ELS) Updates 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 guidance of 2.890-2.950 for the period, compared to the consensus earnings per share estimate of 2.890. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its Q4 guidance to $0.73-$0.79 EPS.

Equity LifeStyle Properties Stock Performance

ELS opened at $68.04 on Tuesday. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 37.18, a P/E/G ratio of 3.60 and a beta of 0.79. The business’s 50-day moving average price is $71.24 and its two-hundred day moving average price is $66.74. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced 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 an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.81%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Analysts Set New Price Targets

A number of brokerages recently commented on ELS. Wells Fargo & Company upgraded 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 report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday. Finally, Truist Financial upped their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.56.

Insider Transactions at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value 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 disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 over the last quarter. 1.40% of the stock is currently owned by 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.