Equity LifeStyle Properties (NYSE:ELS) Releases FY24 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.84-2.94 for the period, compared to the consensus estimate of $2.89. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.840-2.940 EPS.

Equity LifeStyle Properties Price Performance

ELS stock opened at $62.70 on Tuesday. The business has a fifty day moving average of $64.83 and a two-hundred day moving average of $67.18. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69. Equity LifeStyle Properties has a 52-week low of $60.47 and a 52-week high of $74.04.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.477 per share. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. This represents a $1.91 annualized dividend and a yield of 3.04%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 113.69%.

Wall Street Analyst Weigh In

ELS has been the subject of several recent analyst reports. Wolfe Research raised Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 target price for the company in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a hold rating and a $64.00 price objective for the company. Royal Bank of Canada reaffirmed a sector perform rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Finally, Truist Financial dropped their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating for the company in a research note on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $70.15.

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.