Equity LifeStyle Properties, Inc. (NYSE:ELS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Equity LifeStyle Properties, Inc. (NYSE:ELS) has received an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $72.50.

A number of research firms have recently weighed in on ELS. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Compass Point increased their price target 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. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. 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 research note on Monday, October 21st. Finally, Robert W. Baird raised their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd.

Institutional Investors Weigh In On Equity LifeStyle Properties

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

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $67.12 on Thursday. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $76.60. The stock has a market cap of $12.82 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 3.61 and a beta of 0.77. The business’s fifty day moving average price is $69.84 and its two-hundred day moving average price is $69.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the prior year, the business posted $0.71 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

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.