Equity Lifestyle Properties (NYSE:ELS) Releases Quarterly Earnings Results, Misses Expectations By $0.34 EPS

Equity Lifestyle Properties (NYSE:ELS) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.34), Zacks reports. Equity Lifestyle Properties had a net margin of 24.97% and a return on equity of 21.70%. The business had revenue of $409.90 million during the quarter, compared to analyst estimates of $402.75 million. During the same period last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year.

Equity Lifestyle Properties Stock Performance

NYSE:ELS opened at $59.18 on Thursday. The stock’s 50-day moving average is $61.43 and its 200-day moving average is $63.00. Equity Lifestyle Properties has a 1-year low of $57.46 and a 1-year high of $69.00. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The stock has a market cap of $11.48 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 3.54 and a beta of 0.63.

Equity Lifestyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 104.33%.

Key Stories Impacting Equity Lifestyle Properties

Here are the key news stories impacting Equity Lifestyle Properties this week:

• Positive Sentiment: Third-quarter revenue increased 4.2% year over year to $409.9 million, exceeding analysts’ $402.75 million estimate. Normalized funds from operations (FFO) were $0.79 per share, matching consensus and improving from $0.75 a year earlier. Gains in occupied sites supported the quarter’s performance. ELS Reports Third Quarter Results
• Positive Sentiment: Robert W. Baird maintained an “outperform” rating while lowering its price target from $74 to $71. The revised target still implies approximately 20% upside from the referenced share price, signaling continued confidence in ELS’s long-term prospects.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley reissued a “mixed” rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Barclays set a $66.00 price target on shares of Equity Lifestyle Properties and gave the company an “equal weight” rating in a research note on Wednesday, October 14th. Robert W. Baird decreased their price target on shares of Equity Lifestyle Properties from $74.00 to $71.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company set a $64.00 price objective on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research report on Monday. Finally, Weiss Ratings downgraded shares of Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.09.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.