Equity LifeStyle Properties, Inc. (ELS) To Go Ex-Dividend on December 27th

Equity LifeStyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Friday, December 27th will be paid a dividend of 0.477 per share by the real estate investment trust on Friday, January 10th. This represents a $1.91 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, December 27th.

Equity LifeStyle Properties has increased its dividend by an average of 18.9% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. Equity LifeStyle Properties has a payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Equity LifeStyle Properties to earn $3.10 per share next year, which means the company should continue to be able to cover its $1.91 annual dividend with an expected future payout ratio of 61.6%.

Equity LifeStyle Properties Stock Performance

ELS opened at $67.78 on Wednesday. The firm has a 50 day moving average of $69.81 and a two-hundred day moving average of $69.12. The firm has a market capitalization of $12.95 billion, a PE ratio of 34.94, a P/E/G ratio of 3.61 and a beta of 0.77. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. 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 announced its quarterly 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). The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. Equity LifeStyle Properties’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. On average, analysts anticipate that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ELS. Compass Point raised their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Truist Financial raised their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 target price on the stock. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.50.

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.