Equity LifeStyle Properties (NYSE:ELS - Free Report) had its price target boosted by Evercore ISI from $76.00 to $77.00 in a research report report published on Monday, 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. Royal Bank of Canada restated a "sector perform" rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research report on Thursday. They issued a "hold" rating and a $72.00 price objective for the company. Truist Financial boosted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $71.56.
Check Out Our Latest Stock Report on Equity LifeStyle Properties
Equity LifeStyle Properties Price Performance
NYSE:ELS traded down $1.93 during mid-day trading on Monday, reaching $68.04. The stock had a trading volume of 1,798,190 shares, compared to its average volume of 1,206,347. The firm has a 50 day moving average price of $71.30 and a two-hundred day moving average price of $66.70. The stock has a market capitalization of $12.69 billion, a P/E ratio of 37.87, a P/E/G ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $76.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released 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 firm 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 business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, analysts expect that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.
Equity LifeStyle Properties Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.4775 per share. The ex-dividend date was Friday, September 27th. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.81%. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 104.37%.
Insider Activity
In other news, COO Patrick Waite sold 20,820 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Patrick Waite sold 20,820 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares of the company's stock, valued at $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock worth $6,348,011 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Equity LifeStyle Properties
Large investors have recently bought and sold shares of the business. Mather Group LLC. bought a new stake in Equity LifeStyle Properties in the 1st quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in Equity LifeStyle Properties in the 2nd quarter worth about $30,000. UMB Bank n.a. increased its holdings in Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock worth $38,000 after buying an additional 417 shares in the last quarter. Blue Trust Inc. increased its holdings in Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $40,000 after buying an additional 391 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in 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 worth $53,000 after buying an additional 217 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.
About Equity LifeStyle Properties
(
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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.
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