Brokerages Set Equity LifeStyle Properties, Inc. (NYSE:ELS) PT at $72.50

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $72.50.

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted 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. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Truist Financial increased their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Compass Point lifted their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th.

Equity LifeStyle Properties Trading Up 0.8 %

NYSE:ELS opened at $67.12 on Thursday. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The stock has a market cap of $12.82 billion, a P/E ratio of 34.60, a P/E/G ratio of 3.61 and a beta of 0.77. 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 stock has a 50-day simple moving average of $69.84 and a 200-day simple moving average of $69.08.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) 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 business had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, 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. Investors of record on Friday, December 27th will be issued a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.84%. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELS. Daiwa Securities Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 370.6% in the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock valued at $166,182,000 after purchasing an additional 1,834,491 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Equity LifeStyle Properties by 592.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust’s stock worth $116,068,000 after acquiring an additional 1,391,846 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Equity LifeStyle Properties by 56.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock worth $159,232,000 after acquiring an additional 805,681 shares during the period. Caprock Group LLC purchased a new position in Equity LifeStyle Properties in the 3rd quarter valued at approximately $54,866,000. Finally, Quantinno Capital Management LP raised its holdings in Equity LifeStyle Properties by 14,049.2% during the third quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust’s stock worth $50,935,000 after purchasing an additional 708,925 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

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.