Equity LifeStyle Properties (NYSE:ELS) Issues FY 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.890-2.950 for the period, compared to the consensus EPS estimate of 2.890. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its Q4 guidance to $0.73-$0.79 EPS.

Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS opened at $70.58 on Thursday. The company has a market cap of $13.16 billion, a P/E ratio of 38.57, a PEG ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $76.60. The business’s 50-day simple moving average is $71.17 and its 200 day simple moving average is $66.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The firm had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, sell-side analysts forecast that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

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

Analysts Set New Price Targets

ELS has been the topic of a number of recent analyst reports. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Truist Financial upped their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.40.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the company’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 value of $2,492,160.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on 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 transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock valued at $6,348,011 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

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.