Equity LifeStyle Properties, Inc. (NYSE:ELS - Get Free Report)'s share price shot up 3.1% during trading on Thursday . The company traded as high as $68.95 and last traded at $68.75. 1,422,568 shares were traded during mid-day trading, an increase of 11% from the average session volume of 1,285,235 shares. The stock had previously closed at $66.66.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Truist Financial upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. BMO Capital Markets raised Equity LifeStyle Properties from a "market perform" rating to an "outperform" rating and set a $78.00 target price on the stock in a research report on Friday. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research note on Tuesday. They set a "buy" rating and a $80.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.20.
Read Our Latest Research Report on ELS
Equity LifeStyle Properties Trading Down 2.5 %
The company has a 50-day moving average price of $66.69 and a 200 day moving average price of $68.06. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 3.02 and a beta of 0.72. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. As a group, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.
Equity LifeStyle Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.33%. This is a positive change from Equity LifeStyle Properties's previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties's dividend payout ratio (DPR) is currently 105.64%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ELS. Principal Financial Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 172.0% during the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock valued at $404,319,000 after buying an additional 3,838,809 shares during the last quarter. Invesco Ltd. lifted its stake in Equity LifeStyle Properties by 592.7% in the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock valued at $260,955,000 after acquiring an additional 3,352,584 shares during the last quarter. Norges Bank bought a new stake in Equity LifeStyle Properties in the fourth quarter worth approximately $163,212,000. Northern Trust Corp increased its stake in shares of Equity LifeStyle Properties by 43.3% during the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust's stock worth $162,162,000 after purchasing an additional 735,580 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Equity LifeStyle Properties by 221.2% during the 4th quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust's stock valued at $64,961,000 after purchasing an additional 671,703 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.
About Equity LifeStyle Properties
(
Get Free Report)
Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.
Further Reading
Before you consider Equity LifeStyle Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Equity LifeStyle Properties wasn't on the list.
While Equity LifeStyle Properties currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
