Royal Bank of Canada Reaffirms Sector Perform Rating for Equity LifeStyle Properties (NYSE:ELS)

Royal Bank of Canada reaffirmed their sector perform rating on shares of Equity LifeStyle Properties (NYSE:ELS) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $68.00 price target on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on ELS. Truist Financial reduced their target price on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a hold rating on the stock in a research note on Thursday, May 2nd. Barclays reduced their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating on the stock in a research report on Friday, April 26th. Finally, Evercore ISI boosted their target price on Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an in-line rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $68.39.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $67.02 on Wednesday. The stock has a market capitalization of $12.50 billion, a PE ratio of 36.62, a P/E/G ratio of 3.87 and a beta of 0.77. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $74.04. The business has a 50 day simple moving average of $64.16 and a two-hundred day simple moving average of $64.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. During the same period in the previous year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that Equity LifeStyle Properties will post 2.9 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.477 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 2.85%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Institutional Trading of Equity LifeStyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates raised its holdings in shares of Equity LifeStyle Properties by 19.4% in the 4th quarter. Raymond James & Associates now owns 77,485 shares of the real estate investment trust’s stock valued at $5,466,000 after purchasing an additional 12,579 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Equity LifeStyle Properties by 13.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,414 shares of the real estate investment trust’s stock valued at $382,000 after buying an additional 656 shares during the period. Pacer Advisors Inc. raised its stake in Equity LifeStyle Properties by 97.4% in the fourth quarter. Pacer Advisors Inc. now owns 30,897 shares of the real estate investment trust’s stock worth $2,179,000 after buying an additional 15,246 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth $77,000. Finally, Manning & Napier Group LLC boosted its holdings in shares of Equity LifeStyle Properties by 0.7% in the 4th quarter. Manning & Napier Group LLC now owns 153,238 shares of the real estate investment trust’s stock valued at $10,809,000 after buying an additional 1,016 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.