Equity LifeStyle Properties, Inc. (NYSE:ELS) Given Consensus Rating of “Hold” by Brokerages

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) have earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $68.94.

ELS has been the topic of a number of research reports. Barclays dropped their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Evercore ISI increased their target price on Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 23rd. Truist Financial boosted their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th.

Equity LifeStyle Properties Stock Performance

ELS stock opened at $70.80 on Friday. The stock’s 50 day simple moving average is $66.85 and its 200 day simple moving average is $65.04. Equity LifeStyle Properties has a 12-month low of $59.82 and a 12-month high of $74.04. The firm has a market cap of $13.20 billion, a P/E ratio of 38.69, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share 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 analyst estimates of $334.53 million. During the same period last year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts predict 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. Shareholders of record on Friday, September 27th will be paid 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 is Friday, September 27th. This represents a $1.91 annualized dividend and a yield of 2.70%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its position in shares of Equity LifeStyle Properties by 744.8% in the second quarter. Point72 Asset Management L.P. now owns 251,747 shares of the real estate investment trust’s stock worth $16,396,000 after buying an additional 221,947 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in Equity LifeStyle Properties in the 2nd quarter worth about $4,885,000. MBB Public Markets I LLC acquired a new stake in Equity LifeStyle Properties during the 2nd quarter worth about $788,000. Employees Retirement System of Texas grew its stake in Equity LifeStyle Properties by 57.4% during the 2nd quarter. Employees Retirement System of Texas now owns 96,000 shares of the real estate investment trust’s stock valued at $6,252,000 after acquiring an additional 35,000 shares in the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of Equity LifeStyle Properties by 300.1% in the 2nd quarter. APG Asset Management N.V. now owns 21,065 shares of the real estate investment trust’s stock valued at $1,280,000 after purchasing an additional 15,800 shares during the period. Institutional investors own 97.21% of the company’s stock.

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.