Equity LifeStyle Properties (NYSE:ELS) Updates Q2 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.610-0.670 for the period, compared to the consensus estimate of 0.670. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.840-2.940 EPS.

Wall Street Analyst Weigh In

ELS has been the subject of a number of analyst reports. Truist Financial reduced their target price on shares of 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. Wolfe Research upgraded shares of Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 target price on the stock in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft assumed 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 on the stock. Finally, Royal Bank of Canada restated a sector perform rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $70.15.

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock traded down $0.42 on Wednesday, reaching $61.35. The stock had a trading volume of 221,166 shares, compared to its average volume of 1,239,177. The business’s 50-day moving average price is $64.83 and its two-hundred day moving average price is $67.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties has a fifty-two week low of $60.47 and a fifty-two week high of $74.04. The stock has a market cap of $11.44 billion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors 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. This represents a $1.91 annualized dividend and a yield of 3.11%. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

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.