Equity LifeStyle Properties, Inc. (NYSE:ELS) to Issue Quarterly Dividend of $0.48

Equity LifeStyle Properties, Inc. (NYSE:ELS - Get Free Report) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, June 28th.

Equity LifeStyle Properties has increased its dividend by an average of 18.9% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Equity LifeStyle Properties has a dividend 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 Trading Up 3.6 %

Equity LifeStyle Properties stock traded up $2.21 during trading hours on Thursday, reaching $63.16. 1,597,019 shares of the company's stock traded hands, compared to its average volume of 1,267,454. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $74.04. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 3.55 and a beta of 0.70. The firm's 50 day moving average is $64.05 and its 200-day moving average is $66.99.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wolfe Research upgraded shares of Equity LifeStyle Properties from a "peer perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Friday, February 9th. Truist Financial lowered their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a "hold" rating and a $64.00 price target for the company. Finally, Barclays lowered their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an "overweight" rating for the company in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.85.

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.