Equity Lifestyle Properties (NYSE:ELS) Posts Quarterly Earnings Results, Meets Expectations

Equity Lifestyle Properties (NYSE:ELS) announced its earnings results on Tuesday. The real estate investment trust reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79, Zacks reports. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share.

Equity Lifestyle Properties Price Performance

ELS stock traded up $0.88 during midday trading on Tuesday, reaching $61.90. The company had a trading volume of 2,341,598 shares, compared to its average volume of 1,669,639. Equity Lifestyle Properties has a 1 year low of $57.46 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market capitalization of $12.01 billion, a P/E ratio of 29.76, a P/E/G ratio of 3.63 and a beta of 0.63. The firm has a 50-day moving average price of $61.57 and a 200-day moving average price of $63.05.

Equity Lifestyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were given a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio is 104.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELS. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a research note on Monday, October 12th. Barclays set a $66.00 price objective on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research report on Wednesday, October 14th. Truist Financial set a $64.00 price objective on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Friday, September 11th. Mizuho reaffirmed a “neutral” rating and issued a $65.00 target price (down from $72.00) on shares of Equity Lifestyle Properties in a research report on Monday, September 21st. Finally, Royal Bank Of Canada dropped their price objective on shares of Equity Lifestyle Properties from $71.00 to $68.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.30.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.