Equity LifeStyle Properties (NYSE:ELS) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Equity LifeStyle Properties (NYSE:ELS – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.890-2.950 for the period, compared to the consensus EPS estimate of 2.890. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its Q4 guidance to $0.73-$0.79 EPS.

Equity LifeStyle Properties Stock Down 2.8 %

NYSE:ELS traded down $1.95 on Monday, reaching $68.02. The stock had a trading volume of 1,759,237 shares, compared to its average volume of 1,206,155. The company has a 50-day moving average of $71.30 and a 200 day moving average of $66.70. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock has a market cap of $12.69 billion, a P/E ratio of 37.87, a price-to-earnings-growth 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.

Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts predict that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.4775 per share. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ELS shares. Evercore ISI upped their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday. They set a “hold” rating and a $72.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.56.

Get Our Latest Research Report on Equity LifeStyle Properties

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock worth $6,348,011 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Equity LifeStyle Properties Company Profile

(Get Free Report)

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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