Equity LifeStyle Properties, Inc. (ELS) to Issue Quarterly Dividend of $0.52 on April 11th

Equity LifeStyle Properties, Inc. (NYSE:ELS) announced a quarterly dividend on Thursday, February 6th, RTT News reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.515 per share by the real estate investment trust on Friday, April 11th. This represents a $2.06 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, March 28th. This is a 8.0% increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48.

Equity LifeStyle Properties has increased its dividend by an average of 8.6% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Equity LifeStyle Properties has a payout ratio of 97.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Equity LifeStyle Properties to earn $3.25 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 63.4%.

Equity LifeStyle Properties Trading Down 1.5 %

Shares of NYSE:ELS opened at $66.85 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a market cap of $12.78 billion, a P/E ratio of 34.28, a PEG ratio of 3.02 and a beta of 0.79. The stock’s fifty day moving average price is $66.93 and its 200-day moving average price is $68.71.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. Sell-side analysts expect that Equity LifeStyle Properties will post 3.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ELS has been the subject of a number of research analyst reports. Truist Financial raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Royal Bank of Canada cut their price objective on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $72.00 to $80.00 in a research report on Thursday, January 2nd. Evercore ISI cut their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research note on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.78.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.