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

Equity LifeStyle Properties (NYSE:ELS) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.86-2.96 for the period, compared to the consensus estimate of $2.89. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.860-2.960 EPS.

Equity LifeStyle Properties Stock Down 1.0 %

Shares of ELS opened at $65.65 on Thursday. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 3.91 and a beta of 0.77. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $74.04. The stock’s 50-day moving average price is $64.06 and its 200-day moving average price is $64.84. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). The company 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 23.73% and a net margin of 23.56%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. On average, sell-side analysts predict that Equity LifeStyle Properties will post 2.9 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, June 28th. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Wall Street Analyst Weigh In

ELS has been the subject of several recent analyst reports. Royal Bank of Canada restated a sector perform rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday. Evercore ISI lifted their price target on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an in-line rating in a research report on Tuesday. Barclays lowered their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating for the company in a research report on Friday, April 26th. Finally, Truist Financial reduced their target price on Equity LifeStyle Properties from $72.00 to $65.00 and set a hold rating on the stock in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $68.39.

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.