Equity LifeStyle Properties (NYSE:ELS) Upgraded at UBS Group

UBS Group upgraded shares of Equity LifeStyle Properties (NYSE:ELS) to a strong-buy rating in a research note published on Thursday morning, Zacks.com reports.

A number of other analysts also recently commented on ELS. Evercore ISI increased their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an in-line rating in a research report on Monday, September 16th. Wells Fargo & Company raised Equity LifeStyle Properties from an equal weight rating to an overweight rating and increased their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Truist Financial increased their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a hold rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of Moderate Buy and a consensus price target of $71.38.

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock opened at $67.78 on Thursday. The company has a market cap of $12.64 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $76.60. The business has a 50 day moving average price of $71.47 and a 200-day moving average price of $66.50. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). The company had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. Equities analysts anticipate that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.4775 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insider Transactions at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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 owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their position. 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. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after buying an additional 240,853 shares in the last quarter. Victory Capital Management Inc. raised its position in Equity LifeStyle Properties by 7.8% during the second quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock valued at $300,237,000 after purchasing an additional 331,945 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Equity LifeStyle Properties by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after purchasing an additional 153,715 shares in the last quarter. Boston Partners raised its position in Equity LifeStyle Properties by 4.2% during the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after purchasing an additional 113,891 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Equity LifeStyle Properties by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock valued at $176,250,000 after purchasing an additional 178,258 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

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.