Equity LifeStyle Properties (NYSE:ELS – Get Free Report) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.61-0.67 for the period, compared to the consensus EPS estimate of $0.66. Equity LifeStyle Properties also updated its FY24 guidance to $2.84-2.94 EPS.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Wolfe Research raised shares of Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 target price for the company in a report on Friday, February 9th. Royal Bank of Canada reaffirmed a sector perform rating and set a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Truist Financial reduced their target price on shares of 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, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a hold rating and a $64.00 target price for the company. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $70.15.
Read Our Latest Research Report on ELS
Equity LifeStyle Properties Price Performance
Equity LifeStyle Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a $0.477 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.04%. Equity LifeStyle Properties’s dividend payout ratio is 113.69%.
About Equity LifeStyle Properties
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.
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