Equity LifeStyle Properties (NYSE:ELS) Updates 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 guidance of 2.840-2.940 for the period, compared to the consensus earnings per share estimate of 2.890. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY24 guidance to $2.84-2.94 EPS.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock traded down $0.57 during trading hours on Thursday, hitting $60.75. The stock had a trading volume of 971,626 shares, compared to its average volume of 1,252,582. The company has a 50-day moving average of $64.64 and a two-hundred day moving average of $67.12. 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 company has a market cap of $11.33 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 3.68 and a beta of 0.69. Equity LifeStyle Properties has a fifty-two week low of $60.47 and a fifty-two week high of $74.04.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.477 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.14%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ELS. Royal Bank of Canada reissued a sector perform rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a hold rating and a $64.00 price target on the stock. Wolfe Research upgraded Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 price target on the stock in a research report on Friday, February 9th. Finally, Truist Financial decreased their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating on the stock in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $70.15.

Equity LifeStyle Properties Company Profile

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.