Equity Lifestyle Properties, Inc. (ELS) Plans $0.55 Quarterly Dividend

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Equity Lifestyle Properties, Inc. (NYSE:ELS) declared a quarterly dividend on Wednesday, October 31st, Wall Street Journal reports. Stockholders 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 dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, December 27th.

Equity Lifestyle Properties has raised its dividend payment by an average of 15.5% per year over the last three years and has increased its dividend every year for the last 7 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%.

NYSE ELS opened at $94.69 on Thursday. The firm has a market cap of $8.67 billion, a PE ratio of 26.30, a PEG ratio of 4.30 and a beta of 0.17. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.23. Equity Lifestyle Properties has a 1-year low of $79.78 and a 1-year high of $98.53.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, October 22nd. The real estate investment trust reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.12. The firm had revenue of $256.70 million for the quarter, compared to analysts’ expectations of $240.19 million. Equity Lifestyle Properties had a return on equity of 19.69% and a net margin of 22.40%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. As a group, analysts forecast that Equity Lifestyle Properties will post 3.91 EPS for the current fiscal year.

Several research firms have recently weighed in on ELS. Zacks Investment Research cut Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Robert W. Baird upped their price objective on Equity Lifestyle Properties from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, October 25th. ValuEngine upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Bank of America upped their price objective on Equity Lifestyle Properties from $99.00 to $100.50 and gave the stock a “buy” rating in a research note on Monday, September 17th. Finally, Wells Fargo & Co upped their price objective on Equity Lifestyle Properties from $95.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Equity Lifestyle Properties presently has an average rating of “Hold” and a consensus price target 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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Dividend History for Equity Lifestyle Properties (NYSE:ELS)

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