Equity Lifestyle Properties, Inc. (NYSE:ELS) Announces Quarterly Dividend of $0.54

Equity Lifestyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, September 25th will be given a dividend of 0.5425 per share by the real estate investment trust on Friday, October 9th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, September 25th.

Equity Lifestyle Properties has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 21 years. Equity Lifestyle Properties has a payout ratio of 102.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Equity Lifestyle Properties to earn $3.35 per share next year, which means the company should continue to be able to cover its $2.17 annual dividend with an expected future payout ratio of 64.8%.

Equity Lifestyle Properties Price Performance

ELS stock traded up $0.61 during midday trading on Wednesday, hitting $66.63. The company’s stock had a trading volume of 97,347 shares, compared to its average volume of 1,696,925. Equity Lifestyle Properties has a 12 month low of $58.15 and a 12 month high of $69.00. The company has a quick ratio of 0.04, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 3.96 and a beta of 0.66. The company has a 50 day moving average of $63.82 and a two-hundred day moving average of $64.30.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). The company had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. On average, analysts expect that Equity Lifestyle Properties will post 3.18 EPS for the current year.

Wall Street Analysts Forecast Growth

ELS has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, April 15th. Truist Financial set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research report on Thursday, July 9th. Finally, Wells Fargo & Company reduced their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.70.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.