Equity Lifestyle Properties (NYSE:ELS) Posts Quarterly Earnings Results, Misses Estimates By $0.34 EPS

Equity Lifestyle Properties (NYSE:ELS) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.34), Zacks reports. The company had revenue of $409.90 million for the quarter, compared to analyst estimates of $402.75 million. Equity Lifestyle Properties had a return on equity of 21.73% and a net margin of 24.97%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS.

Equity Lifestyle Properties Stock Performance

Shares of ELS opened at $60.84 on Friday. The firm has a market capitalization of $11.81 billion, a P/E ratio of 19.25, a PEG ratio of 3.49 and a beta of 0.63. Equity Lifestyle Properties has a one year low of $57.46 and a one year high of $69.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.02 and a quick ratio of 0.02. The business has a fifty day moving average of $61.26 and a 200 day moving average of $62.97.

Equity Lifestyle Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, September 25th. Equity Lifestyle Properties’s payout ratio is presently 106.90%.

Wall Street Analysts Forecast Growth

ELS has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on Equity Lifestyle Properties from $74.00 to $71.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company set a $64.00 price target on Equity Lifestyle Properties and gave the company an “equal weight” rating in a report on Monday, October 19th. Truist Financial set a $64.00 target price on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Friday, September 11th. Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Finally, UBS Group dropped their price objective on shares of Equity Lifestyle Properties from $76.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.09.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.