Equity LifeStyle Properties (NYSE:ELS) Updates Q2 2024 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.610-0.670 for the period, compared to the consensus earnings per share estimate of 0.670. The company issued revenue guidance of -. Equity LifeStyle Properties also updated its FY 2024 guidance to 2.840-2.940 EPS.

Analysts Set New Price Targets

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

Equity LifeStyle Properties Stock Performance

Shares of NYSE ELS opened at $62.70 on Tuesday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm’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 52-week low of $60.47 and a 52-week high of $74.04. The stock has a market capitalization of $11.69 billion, a P/E ratio of 37.32, a P/E/G ratio of 3.73 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.477 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a yield of 3.04%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 113.69%.

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.