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

Equity LifeStyle Properties, Inc. (NYSE:ELS) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.477 per share by the real estate investment trust on Friday, July 12th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, June 28th.

Equity LifeStyle Properties has raised its dividend payment by an average of 18.9% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Equity LifeStyle Properties has a dividend payout ratio of 102.7% meaning 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 Stock Performance

Shares of NYSE ELS traded up $0.81 during mid-day trading on Thursday, reaching $61.76. 166,316 shares of the company were exchanged, compared to its average volume of 1,249,681. The company’s 50-day simple moving average is $64.05 and its 200-day simple moving average is $66.99. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $11.52 billion, a P/E ratio of 33.83, a P/E/G ratio of 3.55 and a beta of 0.70. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month high of $74.04.

Wall Street Analysts Forecast Growth

ELS has been the subject of several analyst reports. Truist Financial dropped their price objective on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday. Barclays dropped their price objective on shares of 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.85.

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.