Equity LifeStyle Properties (NYSE:ELS) Posts Quarterly Earnings Results, Meets Estimates

Equity LifeStyle Properties (NYSE:ELS) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76, Zacks reports. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock traded up $2.10 during trading on Monday, reaching $69.33. 2,400,063 shares of the company’s stock traded hands, compared to its average volume of 1,419,826. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a market capitalization of $13.25 billion, a P/E ratio of 35.74, a PEG ratio of 3.28 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $68.01 and its 200 day moving average is $69.55.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 98.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ELS. Jefferies Financial Group raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a research report on Tuesday, January 21st. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Compass Point boosted their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.20.

Equity LifeStyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.