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

Equity LifeStyle Properties (NYSE:ELS) issued its 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. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same period last year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis.

Equity LifeStyle Properties Trading Up 1.0 %

Shares of ELS stock opened at $68.70 on Wednesday. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The stock’s 50 day simple moving average is $71.19 and its two-hundred day simple moving average is $66.78. The company has a market cap of $12.81 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.4775 per share. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.78%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Insider Activity at Equity LifeStyle Properties

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

Analyst Upgrades and Downgrades

ELS has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI boosted their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday. 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 note on Tuesday, July 30th. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target for the company. Finally, UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.60.

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.