Equity LifeStyle Properties (NYSE:ELS) Issues Quarterly Earnings Results

Equity LifeStyle Properties (NYSE:ELS) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28), Yahoo Finance reports. The company had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 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 down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS.

Equity LifeStyle Properties Stock Performance

ELS stock traded up $1.89 during mid-day trading on Wednesday, hitting $70.58. 1,359,836 shares of the company were exchanged, compared to its average volume of 1,207,552. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $76.60. The business has a 50 day simple moving average of $71.19 and a 200-day simple moving average of $66.78. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $13.16 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.4775 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 2.71%. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Analyst Ratings Changes

ELS has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Truist Financial lifted 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. Finally, Evercore ISI upped 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 report on Monday. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of “Hold” and an average target price of $71.64.

Insider Activity

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

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.