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

Equity LifeStyle Properties (NYSE:ELS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.890-2.950 for the period, compared to the consensus 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 Trading Down 2.8 %

NYSE ELS traded down $1.95 on Monday, reaching $68.02. 1,758,393 shares of the company were exchanged, compared to its average volume of 1,206,151. The business’s fifty day moving average price is $71.30 and its 200 day moving average price is $66.70. The stock has a market capitalization of $12.69 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released 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 company had revenue of $380.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Analysts forecast that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ELS shares. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Truist Financial upped their price target 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. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research note on Thursday. They issued a “hold” rating and a $72.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.56.

Insider Activity at Equity LifeStyle Properties

In related news, 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 value of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the company’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 owns 260,936 shares in the company, valued at $19,705,886.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is currently owned by company insiders.

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.