Equity LifeStyle Properties (NYSE:ELS) Trading 3.1% Higher on Analyst Upgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS - Get Free Report)'s share price traded up 3.1% during trading on Wednesday after Compass Point raised their price target on the stock from $70.00 to $72.00. Compass Point currently has a neutral rating on the stock. Equity LifeStyle Properties traded as high as $70.89 and last traded at $70.81. 738,702 shares changed hands during trading, a decline of 39% from the average session volume of 1,204,292 shares. The stock had previously closed at $68.69.

Several other research firms have also weighed in on ELS. Evercore ISI upped their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a report on Monday. Robert W. Baird boosted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday. UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a report on Thursday, October 10th. Truist Financial upped their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a "hold" rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a "hold" rating and a $72.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of "Hold" and a consensus target price of $71.64.

Insiders Place Their Bets

In related news, COO Patrick Waite sold 20,820 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value 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 approximately $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares of the company's stock, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock valued at $6,348,011 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. PGGM Investments lifted its position in Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust's stock worth $120,067,000 after acquiring an additional 1,804,156 shares in the last quarter. ProShare Advisors LLC grew its holdings in Equity LifeStyle Properties by 4,590.4% during the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust's stock valued at $29,614,000 after purchasing an additional 450,042 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Equity LifeStyle Properties by 569.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust's stock worth $32,235,000 after buying an additional 421,062 shares during the period. National Bank of Canada FI lifted its holdings in Equity LifeStyle Properties by 46,368.4% in the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust's stock worth $22,321,000 after buying an additional 354,718 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Equity LifeStyle Properties by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust's stock valued at $300,237,000 after buying an additional 331,945 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Up 2.8 %

The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 38.57, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $71.17 and a two-hundred day moving average price of $66.81.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.28). The business had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. Equity LifeStyle Properties's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. As a group, sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.71%. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties's dividend payout ratio is 104.37%.

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.