Equity LifeStyle Properties (NYSE:ELS) PT Raised to $73.00

Equity LifeStyle Properties (NYSE:ELS) had its price target increased by Evercore ISI from $72.00 to $73.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on ELS. Truist Financial boosted their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a hold rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated a sector perform rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Equity LifeStyle Properties currently has an average rating of Hold and an average target price of $69.06.

Equity LifeStyle Properties Trading Up 1.1 %

Shares of NYSE ELS opened at $72.71 on Wednesday. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $74.04. The company has a market cap of $13.56 billion, a PE ratio of 39.73, 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. The company has a 50-day moving average of $68.17 and a two-hundred day moving average of $65.30.

Equity LifeStyle Properties (NYSE:ELS) last announced 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). The company had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, equities analysts expect that Equity LifeStyle Properties will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following 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 Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Equity LifeStyle Properties

Hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama raised its holdings in Equity LifeStyle Properties by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 233,448 shares of the real estate investment trust’s stock valued at $16,467,000 after buying an additional 863 shares during the last quarter. Cim LLC bought a new position in Equity LifeStyle Properties in the 4th quarter valued at approximately $2,586,000. Centersquare Investment Management LLC raised its holdings in Equity LifeStyle Properties by 22.9% during the 1st quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock worth $7,417,000 after purchasing an additional 22,900 shares during the last quarter. GAMMA Investing LLC raised its holdings in Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares during the last quarter. Finally, Farrow Financial Inc. bought a new position in Equity LifeStyle Properties during the 4th quarter worth approximately $1,467,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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.