Equity LifeStyle Properties, Inc. (NYSE:ELS) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven analysts that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $72.50.

A number of brokerages have recently issued reports on ELS. Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Compass Point increased their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Evercore ISI increased their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Truist Financial upped their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a "hold" rating and a $72.00 price target for the company.

Equity LifeStyle Properties Stock Up 0.1 %

Shares of NYSE:ELS traded up $0.10 during trading on Friday, reaching $70.94. 1,094,935 shares of the stock were exchanged, compared to its average volume of 1,256,897. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $76.60. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 3.76 and a beta of 0.79. The stock has a fifty day moving average of $70.38 and a two-hundred day moving average of $68.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same quarter last year, the business posted $0.71 earnings per share. The business's revenue was down .4% compared to the same quarter last year. Research analysts anticipate that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.477 per share. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.69%. Equity LifeStyle Properties's dividend payout ratio is currently 98.45%.

Insider Activity

In other news, CEO Marguerite M. Nader sold 33,000 shares of the firm'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 value of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of 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 17.73 % 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Moran Wealth Management LLC lifted its position in Equity LifeStyle Properties by 0.8% during the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust's stock worth $1,264,000 after acquiring an additional 143 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Equity LifeStyle Properties by 31.3% in the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 146 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Equity LifeStyle Properties by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust's stock valued at $1,745,000 after acquiring an additional 152 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Equity LifeStyle Properties by 0.9% during the 2nd quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust's stock worth $1,106,000 after purchasing an additional 154 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in Equity LifeStyle Properties by 8.7% in the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 171 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other 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.