Equity LifeStyle Properties (NYSE:ELS) Releases 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 2.890-2.950 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 Price Performance

Shares of ELS stock traded down $1.95 during midday trading on Monday, reaching $68.02. 1,759,237 shares of the company were exchanged, compared to its average volume of 1,206,155. The company’s 50 day moving average price is $71.30 and its two-hundred day moving average price is $66.70. 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 company has a market cap of $12.69 billion, a P/E ratio of 37.87, a PEG ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a 12 month low of $59.82 and a 12 month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The firm had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same quarter last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.4775 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 annualized dividend and a yield of 2.81%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Evercore ISI upped their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday. Truist Financial increased their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.56.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 transaction 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 approximately $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is currently owned by company insiders.

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.