Equity Lifestyle Properties (NYSE:ELS) Announces Quarterly Earnings Results

Equity Lifestyle Properties (NYSE:ELS) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.34), Zacks reports. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The company had revenue of $409.90 million for the quarter, compared to analyst estimates of $402.75 million. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $61.90 on Wednesday. The stock has a market cap of $12.01 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 3.49 and a beta of 0.63. The business has a 50-day simple moving average of $61.53 and a 200-day simple moving average of $63.04. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. Equity Lifestyle Properties has a 52-week low of $57.46 and a 52-week high of $69.00.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were paid a dividend of $0.5425 per share. The ex-dividend date was Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.5%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 104.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. 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 report on Wednesday, August 12th. Royal Bank Of Canada cut their target price on Equity Lifestyle Properties from $71.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 13th. Truist Financial set a $64.00 target price on Equity Lifestyle Properties and gave the stock a “hold” rating in a research note on Friday, September 11th. Wells Fargo & Company set a $64.00 price target on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research report on Monday. Finally, Mizuho reaffirmed a “neutral” rating and set a $65.00 price target (down from $72.00) on shares of Equity Lifestyle Properties in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.30.

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.