Equity LifeStyle Properties (NYSE:ELS) Trading 3.1% Higher on Analyst Upgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS)’s share price rose 3.1% during mid-day trading on Wednesday after Compass Point raised their price target on the stock from $70.00 to $72.00. Compass Point currently has a neutral rating on the stock. Equity LifeStyle Properties traded as high as $70.89 and last traded at $70.81. Approximately 738,702 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 1,204,292 shares. The stock had previously closed at $68.69.

ELS has been the subject of several other research reports. Robert W. Baird upped their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Truist Financial upped their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Evercore ISI boosted their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.64.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Equity LifeStyle Properties

Institutional investors and hedge funds have recently modified their holdings of the company. PGGM Investments increased its stake in shares of Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after purchasing an additional 1,804,156 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Equity LifeStyle Properties by 4,590.4% in the first quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after acquiring an additional 450,042 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Equity LifeStyle Properties by 569.9% in the second quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock valued at $32,235,000 after acquiring an additional 421,062 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Equity LifeStyle Properties by 46,368.4% during the first quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after acquiring an additional 354,718 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Equity LifeStyle Properties by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock worth $300,237,000 after purchasing an additional 331,945 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Up 3.3 %

The stock has a market cap of $13.23 billion, a PE ratio of 38.63, a PEG ratio of 3.60 and a beta of 0.79. 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 business has a 50-day moving average of $71.19 and a 200 day moving average of $66.78.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the prior year, the firm earned $0.71 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.4775 per share. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, September 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

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.