Equity LifeStyle Properties (NYSE:ELS) Price Target Raised to $71.00 at Truist Financial

Equity LifeStyle Properties (NYSE:ELS) had its target price raised by Truist Financial from $70.00 to $71.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

ELS has been the topic of several other research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI raised their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective on the stock. Finally, Compass Point boosted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Equity LifeStyle Properties Stock Down 0.4 %

Equity LifeStyle Properties stock opened at $72.24 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a 50 day moving average price of $70.89 and a 200 day moving average price of $67.65. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company has a market capitalization of $13.80 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 3.96 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) 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). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts expect that Equity LifeStyle Properties will post 2.9 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated 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 sale, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This trade represents 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 valued at $6,348,011 over the last three months. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Equity LifeStyle Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moran Wealth Management LLC raised 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 buying an additional 143 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Equity LifeStyle Properties by 31.3% during 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 period. Johnson Investment Counsel Inc. grew its holdings in Equity LifeStyle Properties by 0.6% during the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 152 shares during the period. Toronto Dominion Bank increased its holdings in shares of Equity LifeStyle Properties by 0.9% in the 2nd quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after purchasing an additional 154 shares in the last quarter. Finally, LRI Investments LLC increased its holdings in Equity LifeStyle Properties by 8.7% in the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 171 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

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.