Equity LifeStyle Properties (NYSE:ELS) Releases FY24 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.84-2.94 for the period, compared to the consensus estimate of $2.89. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.840-2.940 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a hold rating and a $64.00 target price on the stock. Truist Financial cut their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating for the company in a research note on Wednesday, January 24th. Wolfe Research upgraded Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 price target for the company in a research note on Friday, February 9th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of Hold and a consensus target price of $70.15.

Equity LifeStyle Properties Stock Performance

NYSE:ELS opened at $61.73 on Wednesday. The business’s 50-day moving average price is $64.83 and its two-hundred day moving average price is $67.18. Equity LifeStyle Properties has a twelve month low of $60.47 and a twelve month high of $74.04. The stock has a market cap of $11.51 billion, a P/E ratio of 33.73, a PEG ratio of 3.73 and a beta of 0.69. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

About Equity LifeStyle Properties

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.