Equity LifeStyle Properties (NYSE:ELS) Issues Earnings Results, Misses Expectations By $0.28 EPS

Equity LifeStyle Properties (NYSE:ELS) issued its earnings results on Monday. The real estate investment trust reported $0.44 earnings per share 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 company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $68.04 on Tuesday. The company has a market cap of $12.69 billion, a P/E ratio of 37.18, a P/E/G ratio of 3.60 and a beta of 0.79. The business has a fifty day simple moving average of $71.24 and a 200-day simple moving average of $66.74. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed 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. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.81%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties 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 sale, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 transaction, the chief financial officer now 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 can be accessed through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ELS shares. 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 report on Thursday, September 19th. Robert W. Baird upped their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective on the stock. Finally, Truist Financial increased their price objective 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. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and an average target price of $71.60.

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.