Equity LifeStyle Properties (NYSE:ELS) Issues Q4 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.730-0.790 for the period, compared to the consensus EPS estimate of 0.710. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.890-2.950 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Finally, Truist Financial raised their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.56.

Equity LifeStyle Properties Trading Down 2.8 %

Shares of ELS stock opened at $68.04 on Tuesday. The stock has a fifty day simple moving average of $71.24 and a two-hundred day simple moving average of $66.74. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60. The firm has a market capitalization of $12.69 billion, a PE ratio of 37.18, a PEG ratio of 3.60 and a beta of 0.79. 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 quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, analysts predict that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.4775 per share. This represents a $1.91 annualized dividend and a yield of 2.81%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insider Activity at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock worth $6,348,011 over the last three months. Company 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.