Equity LifeStyle Properties (NYSE:ELS) Releases Q2 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.61-0.67 for the period, compared to the consensus estimate of $0.66. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.840-2.940 EPS.

Equity LifeStyle Properties Stock Performance

NYSE:ELS opened at $62.70 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a 50-day moving average of $64.83 and a two-hundred day moving average of $67.18. The stock has a market cap of $11.69 billion, a P/E ratio of 37.32, a PEG ratio of 3.73 and a beta of 0.69. Equity LifeStyle Properties has a 1-year low of $60.47 and a 1-year high of $74.04.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a $0.477 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 113.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ELS shares. Royal Bank of Canada restated a sector perform rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Wolfe Research upgraded shares of Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 target price on the stock in a research note on Friday, February 9th. Truist Financial cut their target price on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating on the stock in a research note on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a hold rating and a $64.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $70.15.

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.