Equity LifeStyle Properties (NYSE:ELS) Releases Q3 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.690-0.750 for the period, compared to the consensus estimate of 0.720. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.860-2.960 EPS.

Equity LifeStyle Properties Stock Performance

ELS traded up $0.25 during midday trading on Wednesday, hitting $66.59. 155,942 shares of the company traded hands, compared to its average volume of 1,226,811. The company’s 50-day moving average is $64.06 and its 200 day moving average is $64.84. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $74.04. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $12.42 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last issued 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). Equity LifeStyle Properties had a return on equity of 23.73% and a net margin of 23.56%. The business had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. During the same quarter last year, the company earned $0.66 EPS. Equity LifeStyle Properties’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts expect that Equity LifeStyle Properties will post 2.9 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an in-line rating in a research note on Tuesday. Truist Financial cut their price objective on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a hold rating for the company in a report on Thursday, May 2nd. Finally, Barclays cut their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating for the company in a report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $68.61.

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.