Equity LifeStyle Properties, Inc. Plans Quarterly Dividend of $0.48 (NYSE:ELS)

Equity LifeStyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.477 per share by the real estate investment trust on Friday, July 12th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, June 28th.

Equity LifeStyle Properties has increased its dividend payment 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 dividend payout ratio of 102.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Equity LifeStyle Properties to earn $3.07 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 62.2%.

Equity LifeStyle Properties Trading Up 0.5 %

Shares of ELS stock traded up $0.31 during mid-day trading on Thursday, reaching $61.26. The company’s stock had a trading volume of 26,253 shares, compared to its average volume of 1,248,807. The company’s 50 day simple moving average is $64.05 and its 200-day simple moving average is $66.99. Equity LifeStyle Properties has a 12-month low of $59.82 and a 12-month high of $74.04. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $11.42 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 3.55 and a beta of 0.70.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELS. Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, February 9th. Truist Financial lowered their price target on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Finally, Barclays decreased their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.55.

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.