Equity LifeStyle Properties (NYSE:ELS) Price Target Raised to $71.00

Equity LifeStyle Properties (NYSE:ELS) had its target price increased by Truist Financial from $70.00 to $71.00 in a research note published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other brokerages have also recently weighed in on ELS. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Compass Point upped their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 target price on the stock. Finally, Evercore ISI upped their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS traded down $0.20 on Tuesday, reaching $71.51. 104,666 shares of the company’s stock were exchanged, compared to its average volume of 1,207,817. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The business’s 50-day moving average is $70.87 and its two-hundred day moving average is $67.71. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.85 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The business had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities research analysts forecast that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.67%. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the sale, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 17.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in ELS. Moran Wealth Management LLC grew its stake in shares of Equity LifeStyle Properties by 0.8% in the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 143 shares during the period. V Square Quantitative Management LLC increased its position in shares of Equity LifeStyle Properties by 31.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Equity LifeStyle Properties by 0.6% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after purchasing an additional 152 shares during the last quarter. Toronto Dominion Bank boosted its position in Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after buying an additional 154 shares in the last quarter. Finally, LRI Investments LLC grew its stake in Equity LifeStyle Properties by 8.7% during the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 171 shares during 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.