Equity LifeStyle Properties (NYSE:ELS) Announces Earnings Results

Equity LifeStyle Properties (NYSE:ELS) released its quarterly earnings data on Monday. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting 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 Equity LifeStyle Properties stock traded up $2.10 during trading on Monday, hitting $69.33. 2,400,063 shares of the company’s stock were exchanged, compared to its average volume of 1,419,826. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 35.74, a PEG ratio of 3.28 and a beta of 0.79. The business has a 50-day simple moving average of $68.01 and a 200-day simple moving average of $69.55. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ELS shares. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $72.00 to $80.00 in a research note on Thursday, January 2nd. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $73.00 in a report on Tuesday, January 21st. Evercore ISI lifted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, Robert W. Baird raised their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.20.

About Equity LifeStyle Properties

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.