Equity LifeStyle Properties (NYSE:ELS) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Equity LifeStyle Properties (NYSE:ELS) from a market perform rating to an outperform rating in a research report report published on Friday, MarketBeat.com reports. BMO Capital Markets currently has $78.00 price target on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $72.00 to $80.00 in a report on Thursday, January 2nd. Truist Financial upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Evercore ISI decreased their price objective on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada dropped their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.20.

Equity LifeStyle Properties Stock Down 3.1 %

ELS stock opened at $65.94 on Friday. The stock has a market cap of $12.60 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The firm’s 50-day simple moving average is $66.98 and its 200 day simple moving average is $68.32. 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 quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. As a group, sell-side analysts predict that Equity LifeStyle Properties will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.06 dividend on an annualized basis and a yield of 3.12%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 105.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. National Pension Service purchased a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at approximately $25,000. Bessemer Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth $30,000. Board of the Pension Protection Fund purchased a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at $33,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Equity LifeStyle Properties by 43.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 171 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.