Published on 28 Jan 2024 on GuruFocus.com via Yahoo Finance
Equity Lifestyle Properties Inc (ELS) Reports Growth in Q4 Earnings and Increases 2024 Dividend
Total Revenues: Increased to $360.6 million in Q4 2023 from $340.6 million in Q4 2022.Net Income: Rose to $91.9 million for Common Stockholders in Q4 2023, up from $73.0 million in the prior year's quarter.FFO and Normalized FFO: FFO per share increased to $0.76 and Normalized FFO per share increased to $0.71 in Q4 2023.Dividend Increase: Announced a 6.7% increase in annual dividend rate for 2024 to $1.91 per share of Common Stock.Core Portfolio Growth: Core property operating revenues grew by 6.6% and income from property operations increased by 5.2% in Q4 2023.
Warning! GuruFocus has detected 8 Warning Signs with ELS.High Yield Dividend Stocks in Gurus' PortfolioThis Powerful Chart Made Peter Lynch 29% A Year For 13 YearsHow to calculate the intrinsic value of a stock?
On January 29, 2024, Equity Lifestyle Properties Inc (NYSE:ELS) released its 8-K filing, detailing the company's financial results for the fourth quarter and full year ended December 31, 2023. ELS, a residential real estate investment trust (REIT) with a focus on manufactured housing, residential vehicle communities, and marinas, reported a portfolio of 451 properties across the United States and British Columbia, with a significant presence in retirement destinations.