Equity Lifestyle Properties, Inc. (ELS) Announces Dividend Increase – $0.49 Per Share
Equity Lifestyle Properties, Inc. (NYSE:ELS) announced a quarterly dividend on Thursday, November 2nd, Zacks reports. Stockholders of record on Friday, December 29th will be paid a dividend of 0.488 per share by the real estate investment trust on Friday, January 12th. This represents a $1.95 annualized dividend and a dividend yield of Infinity. The ex-dividend date is Thursday, December 28th. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.49.
Equity Lifestyle Properties has increased its dividend payment by an average of 30.1% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Equity Lifestyle Properties has a payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Equity Lifestyle Properties to earn $3.88 per share next year, which means the company should continue to be able to cover its $1.95 annual dividend with an expected future payout ratio of 50.3%.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, October 16th. The real estate investment trust reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.34). The business had revenue of $241.63 million during the quarter, compared to analyst estimates of $226.85 million. Equity Lifestyle Properties had a return on equity of 21.07% and a net margin of 22.52%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS.
ELS has been the subject of several recent analyst reports. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, August 29th. BidaskClub cut Equity Lifestyle Properties from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Cantor Fitzgerald reissued a “hold” rating and set a $81.00 price objective on shares of Equity Lifestyle Properties in a research report on Wednesday, September 13th. Finally, BMO Capital Markets began coverage on Equity Lifestyle Properties in a research report on Monday, October 9th. They set a “market perform” rating and a $92.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Equity Lifestyle Properties has an average rating of “Hold” and an average target price of $87.67.
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About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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