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

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 3.09%. The ex-dividend date of this dividend is Friday, June 28th.

Equity LifeStyle Properties has increased its dividend payment by an average of 18.9% annually 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. Equities 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 Price Performance

ELS traded up $0.81 during trading hours on Thursday, hitting $61.76. The company’s stock had a trading volume of 166,316 shares, compared to its average volume of 1,249,681. The business’s 50-day moving average price is $64.05 and its 200-day moving average price is $66.99. Equity LifeStyle Properties has a 12 month low of $59.82 and a 12 month high of $74.04. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 33.83, a P/E/G ratio of 3.55 and a beta of 0.70. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Barclays cut their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of 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. Truist Financial cut their price objective on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.85.

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.