Equity LifeStyle Properties (NYSE:ELS) Reaches New 52-Week High at $74.16

Equity LifeStyle Properties, Inc. (NYSE:ELS) shares reached a new 52-week high on Friday . The company traded as high as $74.16 and last traded at $73.87, with a volume of 1511313 shares. The stock had previously closed at $72.33.

Wall Street Analyst Weigh In

ELS has been the subject of a number of research reports. Evercore ISI increased their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Truist Financial raised their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.88.

Equity LifeStyle Properties Stock Performance

The firm’s fifty day moving average price is $68.78 and its 200-day moving average price is $65.47. 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 market cap of $13.78 billion, a P/E ratio of 40.38, a P/E/G ratio of 4.19 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last posted 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 business had revenue of $380.00 million during 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 business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. As a group, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the transaction, 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 document filed with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Equity LifeStyle Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. bought a new position in shares of Equity LifeStyle Properties in the 1st quarter valued at about $25,000. Rise Advisors LLC bought a new position in Equity LifeStyle Properties in the first quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Equity LifeStyle Properties during the 2nd quarter worth $30,000. Blue Trust Inc. raised its position in shares of Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the period. 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.