Equity Lifestyle Properties, Inc. (ELS) To Go Ex-Dividend on September 25th

Equity Lifestyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, September 25th will be paid a dividend of 0.5425 per share by the real estate investment trust on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 25th.

Equity Lifestyle Properties has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Equity Lifestyle Properties has a payout ratio of 102.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Equity Lifestyle Properties to earn $3.37 per share next year, which means the company should continue to be able to cover its $2.17 annual dividend with an expected future payout ratio of 64.4%.

Equity Lifestyle Properties Stock Down 0.2%

ELS stock opened at $60.32 on Wednesday. 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 firm has a market capitalization of $11.71 billion, a P/E ratio of 29.00, a P/E/G ratio of 3.52 and a beta of 0.64. Equity Lifestyle Properties has a 52-week low of $58.72 and a 52-week high of $69.00. The company’s 50 day simple moving average is $63.96 and its 200-day simple moving average is $63.89.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). The firm had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. As a group, equities research analysts anticipate that Equity Lifestyle Properties will post 3.2 EPS for the current year.

Analyst Upgrades and Downgrades

ELS has been the subject of a number of research reports. UBS Group set a $65.00 price objective on Equity Lifestyle Properties in a research report on Monday. Evercore set a $68.00 price objective on shares of Equity Lifestyle Properties in a research note on Monday. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. Morgan Stanley reissued a “mixed” rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Finally, Barclays set a $69.00 price target on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Equity Lifestyle Properties presently has an average rating of “Hold” and a consensus target price of $67.88.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages residential communities and resort properties across the United States. Its portfolio primarily consists of manufactured home communities, recreational vehicle (RV) resorts and campgrounds.

The company provides long-term homesites for manufactured housing residents, as well as seasonal and transient accommodations for RV owners and vacationers. Its properties generally offer amenities and services such as clubhouses, swimming pools, recreational facilities, community events and utility connections.