Equity LifeStyle Properties, Inc. (NYSE:ELS) Plans Dividend Increase – $0.52 Per Share

Equity LifeStyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Investors of record on Friday, March 28th will be given a dividend of 0.515 per share by the real estate investment trust on Friday, April 11th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48.

Equity LifeStyle Properties has raised its dividend payment by an average of 9.6% per year over the last three years. Equity LifeStyle Properties has a payout ratio of 89.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Equity LifeStyle Properties to earn $3.28 per share next year, which means the company should continue to be able to cover its $1.91 annual dividend with an expected future payout ratio of 58.2%.

Equity LifeStyle Properties Trading Down 0.2 %

Shares of Equity LifeStyle Properties stock opened at $66.27 on Friday. 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 0.15, a current ratio of 0.02 and a quick ratio of 0.03. The stock has a fifty day moving average price of $67.09 and a 200-day moving average price of $69.44. The firm has a market cap of $12.66 billion, a PE ratio of 33.98, a P/E/G ratio of 2.82 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. Equities research analysts anticipate that Equity LifeStyle Properties will post 3.1 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Robert W. Baird upped their target price on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $72.00 to $80.00 in a research note on Thursday, January 2nd. Compass Point lifted their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI lowered their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and an average target price of $73.90.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.