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

Equity Lifestyle Properties, Inc. (NYSE:ELS) announced a quarterly dividend on Tuesday, July 28th. Stockholders 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) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, September 25th.

Equity Lifestyle Properties has raised 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% indicating that 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 $3.35 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 64.8%.

Equity Lifestyle Properties Stock Performance

ELS opened at $67.66 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.04. The firm has a fifty day moving average price of $63.91 and a 200 day moving average price of $64.34. Equity Lifestyle Properties has a 1 year low of $58.15 and a 1 year high of $69.00. The stock has a market cap of $13.12 billion, a P/E ratio of 32.53, a P/E/G ratio of 4.02 and a beta of 0.66.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Equity Lifestyle Properties will post 3.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ELS shares. Wells Fargo & Company cut their price target on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Weiss Ratings raised Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Jefferies Financial Group upgraded Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, April 15th. Finally, Truist Financial set a $67.00 price target on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of “Hold” and a consensus price target of $68.70.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.