Equity LifeStyle Properties (NYSE:ELS) Issues Earnings Results, Misses Estimates By $0.28 EPS

Equity LifeStyle Properties (NYSE:ELS) released its quarterly earnings results on Monday. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28), Yahoo Finance reports. The firm had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS.

Equity LifeStyle Properties Price Performance

ELS opened at $70.58 on Thursday. The business has a fifty day moving average of $71.17 and a 200 day moving average of $66.81. The stock 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. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60.

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 paid a dividend of $0.4775 per share. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Insiders Place Their Bets

In other news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. 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 accessible through the SEC website. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock worth $6,348,011 over the last quarter. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ELS. Compass Point raised their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday. Robert W. Baird upped their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.40.

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.