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

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

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $70.58 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $13.16 billion, a P/E ratio of 38.57, a P/E/G ratio of 3.60 and a beta of 0.79. The firm’s 50 day moving average price is $71.17 and its 200-day moving average price is $66.81. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $76.60.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s payout ratio is 104.37%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ELS shares. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Robert W. Baird lifted their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Truist Financial upped their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven equities research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.40.

Insider Activity at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,808 shares of company stock worth $6,348,011. 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.