Equity LifeStyle Properties, Inc. Plans Quarterly Dividend of $0.48 (NYSE:ELS)

Equity LifeStyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.477 per share by the real estate investment trust on Friday, July 12th. This represents a $1.91 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, June 28th.

Equity LifeStyle Properties has raised its dividend by an average of 18.9% per year over the last three years and has raised its dividend every year for the last 20 years. Equity LifeStyle Properties has a payout ratio of 102.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Equity LifeStyle Properties to earn $3.07 per share next year, which means the company should continue to be able to cover its $1.91 annual dividend with an expected future payout ratio of 62.2%.

Equity LifeStyle Properties Trading Up 0.5 %

Shares of ELS traded up $0.31 during mid-day trading on Thursday, hitting $61.26. 26,253 shares of the company’s stock traded hands, compared to its average volume of 1,248,807. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $74.04. The firm has a market capitalization of $11.42 billion, a P/E ratio of 33.31, a PEG ratio of 3.55 and a beta of 0.70. The business’s 50-day moving average price is $64.05 and its 200-day moving average price is $66.99.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective on the stock. Barclays cut their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, February 9th. Truist Financial dropped their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.55.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.