Equity LifeStyle Properties (NYSE:ELS) Price Target Raised to $72.00 at Robert W. Baird

Equity LifeStyle Properties (NYSE:ELS) had its price objective hoisted by Robert W. Baird from $71.00 to $72.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on ELS. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI upped their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Truist Financial upped their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.60.

Equity LifeStyle Properties Trading Up 1.0 %

NYSE ELS opened at $68.70 on Tuesday. The stock has a 50-day simple moving average of $71.19 and a 200 day simple moving average of $66.78. The company has a market capitalization of $12.81 billion, a PE ratio of 37.54, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties has a 12 month low of $59.82 and a 12 month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its 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 23.56% and a return on equity of 23.71%. The business had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Research analysts forecast that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insider Activity

In other news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction that occurred 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 directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock valued at $6,348,011 over the last three months. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELS. Wellington Management Group LLP raised its holdings in Equity LifeStyle Properties by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after acquiring an additional 155 shares in the last quarter. Mather Group LLC. bought a new position in shares of Equity LifeStyle Properties in the 1st quarter valued at $25,000. Vert Asset Management LLC grew its position in Equity LifeStyle Properties by 8.1% during the 1st quarter. Vert Asset Management LLC now owns 72,490 shares of the real estate investment trust’s stock worth $4,668,000 after acquiring an additional 5,450 shares during the last quarter. Oak Thistle LLC bought a new stake in Equity LifeStyle Properties during the 1st quarter worth $422,000. Finally, State of Michigan Retirement System grew its position in shares of Equity LifeStyle Properties by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 45,800 shares of the real estate investment trust’s stock valued at $2,950,000 after buying an additional 1,100 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

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.