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

Equity LifeStyle Properties (NYSE:ELS) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.890-2.950 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 Q4 guidance to $0.73-$0.79 EPS.

Equity LifeStyle Properties Stock Up 1.0 %

Shares of NYSE:ELS opened at $68.70 on Wednesday. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The firm’s 50 day moving average price is $71.19 and its 200 day moving average price is $66.78. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same period last year, the business posted $0.71 EPS. Equity LifeStyle Properties’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts predict that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.4775 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.78%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Evercore ISI increased 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 research note on Monday. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Robert W. Baird boosted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Truist Financial boosted their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and an average price target of $71.60.

Insider Buying and Selling

In related news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $19,705,886.72. This represents 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 news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on 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 completion of the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 in the last three months. Corporate insiders own 1.40% of the company’s stock.

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.