Equity LifeStyle Properties (NYSE:ELS – Get Free Report) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.28), Yahoo Finance reports. 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 23.71% and a net margin of 23.56%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS.
Equity LifeStyle Properties Trading Up 2.8 %
Shares of ELS stock traded up $1.89 on Wednesday, reaching $70.58. The company had a trading volume of 1,359,836 shares, compared to its average volume of 1,207,552. The company has a 50-day moving average of $71.19 and a 200-day moving average of $66.78. The stock has a market cap of $13.16 billion, a PE ratio of 38.63, a PEG ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a 12 month low of $59.82 and a 12 month high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34.
Equity LifeStyle Properties Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.4775 per share. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s payout ratio is presently 104.37%.
Insider Activity
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on ELS shares. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 target price on the stock. Truist Financial upped their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird lifted their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Compass Point boosted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.64.
Check Out Our Latest Stock Analysis on Equity LifeStyle Properties
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.
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