Equity Lifestyle Properties, Inc. (NYSE:ELS) announced a quarterly dividend on Wednesday, October 31st, Wall Street Journal reports. Shareholders of record on Friday, December 28th will be given a dividend of 0.55 per share by the real estate investment trust on Friday, January 11th. This represents a $2.20 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, December 27th.
Equity Lifestyle Properties has raised its dividend payment by an average of 15.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Equity Lifestyle Properties has a payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Equity Lifestyle Properties to earn $4.18 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 52.6%.
ELS traded down $1.88 on Wednesday, hitting $94.69. 488,428 shares of the company traded hands, compared to its average volume of 379,273. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.23. The company has a market cap of $8.60 billion, a PE ratio of 26.84, a P/E/G ratio of 4.30 and a beta of 0.17. Equity Lifestyle Properties has a 12-month low of $79.78 and a 12-month high of $98.53.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 22nd. The real estate investment trust reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. The firm had revenue of $256.70 million during the quarter, compared to the consensus estimate of $240.19 million. Equity Lifestyle Properties had a return on equity of 19.69% and a net margin of 22.40%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. As a group, sell-side analysts expect that Equity Lifestyle Properties will post 3.91 EPS for the current fiscal year.
ELS has been the subject of several analyst reports. Bank of America upped their price objective on Equity Lifestyle Properties from $99.00 to $100.50 and gave the company a “buy” rating in a research note on Monday, September 17th. BMO Capital Markets upped their price objective on Equity Lifestyle Properties from $96.00 to $99.00 and gave the company a “market perform” rating in a research note on Tuesday, October 23rd. Zacks Investment Research downgraded Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Wells Fargo & Co upped their price objective on Equity Lifestyle Properties from $95.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Finally, ValuEngine raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $96.93.
Equity Lifestyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of July 23, 2018, we own or have an interest in 410 quality properties in 32 states and British Columbia consisting of 153,549 sites.
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