Equity LifeStyle Properties (NYSE:ELS) Posts Earnings Results, Misses Estimates By $0.28 EPS

Equity LifeStyle Properties (NYSE:ELS) 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

In related news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock valued at $6,348,011 in the last quarter. Company insiders own 1.40% of the company’s stock.

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.

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.