Equity LifeStyle Properties (NYSE:ELS) Issues FY24 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.84-2.94 for the period, compared to the consensus estimate of $2.89. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.840-2.940 EPS.

Equity LifeStyle Properties Stock Down 0.9 %

Equity LifeStyle Properties stock traded down $0.57 during trading hours on Thursday, hitting $60.75. The stock had a trading volume of 971,622 shares, compared to its average volume of 1,248,629. The stock’s 50-day moving average price is $64.64 and its 200-day moving average price is $67.12. Equity LifeStyle Properties has a 12-month low of $60.47 and a 12-month high of $74.04. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $11.33 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 3.68 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 3.14%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ELS. Truist Financial reduced their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating for the company in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a hold rating and a $64.00 target price for the company. Wolfe Research raised shares of Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 price objective on the stock in a report on Friday, February 9th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $70.15.

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.