Equity LifeStyle Properties (NYSE:ELS) PT Raised to $70.00

Equity LifeStyle Properties (NYSE:ELS) had its price target upped by Truist Financial from $65.00 to $70.00 in a research note issued to investors on Tuesday, Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada restated a sector perform rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an in-line rating in a report on Tuesday, July 23rd. Finally, Barclays reduced their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating on the stock in a report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equity LifeStyle Properties has an average rating of Hold and a consensus target price of $68.94.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $72.53 on Tuesday. The firm has a 50-day moving average of $64.60 and a 200-day moving average of $64.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market cap of $13.53 billion, a PE ratio of 39.63, a P/E/G ratio of 3.96 and a beta of 0.77. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $74.04.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $334.53 million. During the same period in the prior year, the business posted $0.66 earnings per share. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Equity LifeStyle Properties will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.4775 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 2.63%. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates raised its holdings in Equity LifeStyle Properties by 19.4% during the fourth quarter. Raymond James & Associates now owns 77,485 shares of the real estate investment trust’s stock worth $5,466,000 after buying an additional 12,579 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Equity LifeStyle Properties by 13.8% in 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 purchasing an additional 656 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Equity LifeStyle Properties by 0.4% in the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock valued at $3,153,000 after purchasing an additional 200 shares during the last quarter. Arizona State Retirement System grew its position in Equity LifeStyle Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock valued at $3,431,000 after buying an additional 375 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Equity LifeStyle Properties by 1.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 411,760 shares of the real estate investment trust’s stock valued at $29,490,000 after buying an additional 6,096 shares during the period. 97.21% of the stock is 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.