Equity LifeStyle Properties (NYSE:ELS) Updates Q2 2022 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELSGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.590-$0.650 for the period. The company issued revenue guidance of -.Equity LifeStyle Properties also updated its FY 2022 guidance to $2.680-$2.780 EPS.

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of Equity LifeStyle Properties in a research report on Thursday, March 31st. They set a hold rating for the company. Zacks Investment Research cut shares of Equity LifeStyle Properties from a buy rating to a hold rating in a research report on Wednesday, March 30th. Finally, Royal Bank of Canada dropped their target price on shares of Equity LifeStyle Properties from $85.00 to $82.00 and set a sector perform rating for the company in a research report on Wednesday, January 26th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $83.75.

Shares of ELS traded down $0.34 during trading hours on Monday, reaching $78.65. The stock had a trading volume of 846,650 shares, compared to its average volume of 866,602. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. Equity LifeStyle Properties has a 52 week low of $67.05 and a 52 week high of $88.70. The firm has a 50-day moving average of $76.43 and a 200 day moving average of $80.56. The company has a market cap of $14.63 billion, a P/E ratio of 55.06, a P/E/G ratio of 4.81 and a beta of 0.63.

Equity LifeStyle Properties (NYSE:ELSGet Rating) last released its quarterly earnings data on Monday, January 24th. The real estate investment trust reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. Equity LifeStyle Properties had a net margin of 20.64% and a return on equity of 19.44%. The business had revenue of $325.30 million during the quarter, compared to analysts’ expectations of $288.00 million. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities analysts expect that Equity LifeStyle Properties will post 2.74 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Friday, March 25th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, March 24th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.09%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.36. Equity LifeStyle Properties’s dividend payout ratio is currently 114.69%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH boosted its stake in Equity LifeStyle Properties by 13.0% in the 4th quarter. Allianz Asset Management GmbH now owns 646,700 shares of the real estate investment trust’s stock worth $56,689,000 after purchasing an additional 74,200 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Equity LifeStyle Properties by 0.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 353,870 shares of the real estate investment trust’s stock worth $31,020,000 after buying an additional 2,106 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Equity LifeStyle Properties by 1.7% during the 4th quarter. California State Teachers Retirement System now owns 309,944 shares of the real estate investment trust’s stock worth $27,170,000 after buying an additional 5,123 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Equity LifeStyle Properties by 65.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 237,268 shares of the real estate investment trust’s stock worth $20,799,000 after buying an additional 94,206 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Equity LifeStyle Properties by 0.3% during the 4th quarter. Glenmede Trust Co. NA now owns 56,879 shares of the real estate investment trust’s stock worth $4,985,000 after buying an additional 159 shares during the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

About Equity LifeStyle Properties (Get Rating)

We are a self-administered, self-managed real estate investment trust (ÂREITÂ) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.

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