Equity LifeStyle Properties, Inc. (NYSE:ELS) Receives Consensus Recommendation of “Hold” from Brokerages

Equity LifeStyle Properties, Inc. (NYSE:ELS) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $69.25.

ELS has been the topic of several research analyst reports. Evercore ISI upped their price objective on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday. Truist Financial increased their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $75.31 on Tuesday. The business has a 50 day simple moving average of $70.08 and a 200 day simple moving average of $65.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market capitalization of $14.05 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. On average, sell-side analysts forecast that Equity LifeStyle Properties will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.4775 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Insider Transactions at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several large investors have recently bought and sold shares of ELS. Cim LLC bought a new stake in shares of Equity LifeStyle Properties during the 4th quarter valued at $2,586,000. Centersquare Investment Management LLC lifted its stake in Equity LifeStyle Properties by 22.9% in the first quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock valued at $7,417,000 after buying an additional 22,900 shares during the period. GAMMA Investing LLC boosted its holdings in Equity LifeStyle Properties by 36.0% during the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 217 shares during the last quarter. Farrow Financial Inc. acquired a new position in shares of Equity LifeStyle Properties during the 4th quarter worth about $1,467,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Equity LifeStyle Properties by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock valued at $21,952,000 after acquiring an additional 12,444 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Company Profile

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.