Equity LifeStyle Properties (NYSE:ELS) Trading Down 2%

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) traded down 2% on Thursday . The stock traded as low as $70.02 and last traded at $70.05. 204,263 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,218,865 shares. The stock had previously closed at $71.45.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELS shares. Evercore ISI upped 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, July 23rd. Royal Bank of Canada reissued 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. Barclays cut their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Finally, Truist Financial raised their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Hold” and a consensus price target of $68.94.

Equity LifeStyle Properties Stock Performance

The stock has a market cap of $13.11 billion, a PE ratio of 38.56, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a fifty day moving average price of $66.19 and a 200 day moving average price of $64.99. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate 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 company had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.72%. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Institutional Trading of Equity LifeStyle Properties

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Equity LifeStyle Properties by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after purchasing an additional 240,853 shares in the last quarter. Norges Bank bought a new position in Equity LifeStyle Properties in the 4th quarter valued at approximately $455,623,000. Victory Capital Management Inc. lifted its position in Equity LifeStyle Properties by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock valued at $300,237,000 after acquiring an additional 331,945 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Equity LifeStyle Properties by 5.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after acquiring an additional 153,715 shares in the last quarter. Finally, Boston Partners lifted its position in Equity LifeStyle Properties by 4.2% in the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after acquiring an additional 113,891 shares in the last quarter. 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.