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

Key Points

• Equity Lifestyle Properties declared a quarterly dividend of $0.5425 per share, payable October 9 to shareholders of record September 25. The annualized dividend is $2.17 per share, with a yield of approximately 3.3%.
• The REIT has increased its dividend for 21 consecutive years, but its current 102.4% payout ratio exceeds earnings. Analysts expect improved coverage next year, with an estimated payout ratio of 64.8%.
• ELS reported quarterly revenue of $397.81 million, up 5.5% year over year and above estimates, but earnings per share of $0.50 missed the $0.72 consensus forecast. Institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties, Inc. (NYSE:ELS - Get Free Report) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, September 25th will be given a dividend of 0.5425 per share by the real estate investment trust on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, September 25th.

Equity Lifestyle Properties has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Equity Lifestyle Properties has a dividend payout ratio of 102.4% 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 $3.35 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 64.8%.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock traded up $0.26 during trading hours on Wednesday, reaching $66.28. The stock had a trading volume of 51,227 shares, compared to its average volume of 1,696,583. The firm has a market capitalization of $12.86 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 3.96 and a beta of 0.66. The firm has a 50-day simple moving average of $63.82 and a 200-day simple moving average of $64.30. Equity Lifestyle Properties has a twelve month low of $58.15 and a twelve month high of $69.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The company's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Equity Lifestyle Properties will post 3.18 earnings per share for the current year.

Institutional Investors Weigh In On Equity Lifestyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in ELS. Vanguard Group Inc. boosted its holdings in shares of Equity Lifestyle Properties by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust's stock worth $1,544,190,000 after acquiring an additional 592,013 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Equity Lifestyle Properties by 303.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust's stock valued at $966,648,000 after buying an additional 11,999,874 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock valued at $643,331,000 after buying an additional 2,246,622 shares during the last quarter. Principal Financial Group Inc. lifted its position in Equity Lifestyle Properties by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 6,435,365 shares of the real estate investment trust's stock worth $401,698,000 after buying an additional 66,772 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Equity Lifestyle Properties by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,712,562 shares of the real estate investment trust's stock valued at $285,048,000 after acquiring an additional 100,364 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

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.

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