Equity LifeStyle Properties (NYSE:ELS) Reaches New 1-Year Low – Here’s Why

Equity LifeStyle Properties, Inc. (NYSE:ELS) reached a new 52-week low on Wednesday . The stock traded as low as $58.86 and last traded at $60.84, with a volume of 255244 shares. The stock had previously closed at $61.79.

Wall Street Analysts Forecast Growth

ELS has been the topic of a number of research analyst reports. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. BMO Capital Markets upgraded shares of Equity LifeStyle Properties from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Friday, April 4th. Royal Bank of Canada decreased their price target on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 29th. Finally, Robert W. Baird upped their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.20.

Equity LifeStyle Properties Trading Down 0.7 %

The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $66.69 and a 200 day moving average of $68.06. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting 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, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders 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 dividend yield of 3.36%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is 105.64%.

Institutional Investors Weigh In On Equity LifeStyle Properties

Large investors have recently bought and sold shares of the business. National Pension Service acquired a new position in Equity LifeStyle Properties in the fourth quarter worth $25,000. Bessemer Group Inc. raised 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 buying an additional 210 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Equity LifeStyle Properties during the 4th quarter worth about $30,000. Board of the Pension Protection Fund bought a new stake in Equity LifeStyle Properties during the 4th quarter worth about $33,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 171 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

About Equity LifeStyle Properties

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.