Equity LifeStyle Properties, Inc. (NYSE:ELS) Plans Quarterly Dividend of $0.48

Equity LifeStyle Properties, Inc. (NYSE:ELS) announced a quarterly dividend on Wednesday, July 31st, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.4775 per share by the real estate investment trust on Friday, October 11th. This represents a $1.91 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48.

Equity LifeStyle Properties has increased its dividend by an average of 18.9% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. Equity LifeStyle Properties has a payout ratio of 102.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Equity LifeStyle Properties to earn $3.07 per share next year, which means the company should continue to be able to cover its $1.91 annual dividend with an expected future payout ratio of 62.2%.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $68.68 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $74.04. The stock’s 50-day simple moving average is $64.34 and its 200-day simple moving average is $64.73. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 3.95 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (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 company had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same period last year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Equity LifeStyle Properties will post 2.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ELS has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 23rd. Truist Financial upped their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Barclays lowered their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.94.

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.