Equity LifeStyle Properties, Inc. (ELS) To Go Ex-Dividend on June 28th

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 paid a dividend of 0.477 per share by the real estate investment trust on Friday, July 12th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, June 28th.

Equity LifeStyle Properties has increased its dividend 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 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 Stock Performance

NYSE ELS traded up $0.81 on Thursday, hitting $61.76. 304,735 shares of the company’s stock were exchanged, compared to its average volume of 1,250,837. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $74.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. The firm’s 50-day moving average price is $64.05 and its two-hundred day moving average price is $66.99. The firm 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday, February 9th. Truist Financial dropped their price objective on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday. 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 on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target 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 issued a buy rating to the company. Based on data from MarketBeat, Equity LifeStyle Properties presently has a consensus rating of “Hold” and an average 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.