Equity Lifestyle Properties, Inc. (NYSE:ELS) Plans $0.54 Quarterly Dividend

Equity Lifestyle Properties, Inc. (NYSE:ELS - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, June 26th will be paid a dividend of 0.5425 per share by the real estate investment trust on Friday, July 10th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, June 26th.

Equity Lifestyle Properties has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 21 years. Equity Lifestyle Properties has a payout ratio of 102.4% indicating that 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 $3.36 per share next year, which means the company should continue to be able to cover its $2.17 annual dividend with an expected future payout ratio of 64.6%.

Equity Lifestyle Properties Stock Down 0.0%

Shares of NYSE:ELS opened at $62.75 on Wednesday. The firm has a market capitalization of $12.17 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76. The business has a 50 day simple moving average of $65.37 and a two-hundred day simple moving average of $63.43. Equity Lifestyle Properties has a 1 year low of $58.15 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The business had revenue of $397.62 million during the quarter, compared to analysts' expectations of $395.71 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Equity Lifestyle Properties will post 3.18 EPS for the current year.

Analyst Ratings Changes

ELS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price for the company in a research report on Wednesday, April 15th. Wells Fargo & Company restated an "equal weight" rating and issued a $70.00 price target (up from $68.00) on shares of Equity Lifestyle Properties in a report on Friday, February 27th. Truist Financial raised their price target on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a "hold" rating in a research note on Wednesday, February 18th. Zacks Research upgraded shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Finally, Bank of America upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Equity Lifestyle Properties currently has an average rating of "Moderate Buy" and a consensus price target of $69.63.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc NYSE: ELS is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company's portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.