Equity LifeStyle Properties (NYSE:ELS) Price Target Increased to $72.00 by Analysts at Compass Point

Equity LifeStyle Properties (NYSE:ELS) had its price objective hoisted by Compass Point from $70.00 to $72.00 in a research note released on Wednesday morning, Benzinga reports. Compass Point currently has a neutral rating on the real estate investment trust’s stock.

ELS has been the topic of a number of other research reports. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI boosted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective on the stock. Finally, Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.40.

Equity LifeStyle Properties Stock Down 0.8 %

ELS stock opened at $69.40 on Wednesday. The firm’s fifty day simple moving average is $71.14 and its 200-day simple moving average is $66.87. The company has a market capitalization of $12.94 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 3.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. 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 released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same period in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Equity LifeStyle Properties will post 2.9 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Insider Transactions at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock worth $6,348,011 in the last ninety days. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after buying an additional 240,853 shares during the period. Victory Capital Management Inc. raised its position in Equity LifeStyle Properties by 7.8% in 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 during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Equity LifeStyle Properties by 5.0% in the 2nd 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 during the last quarter. Boston Partners grew its holdings in shares of Equity LifeStyle Properties by 4.2% during the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after purchasing an additional 113,891 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Equity LifeStyle Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock worth $176,250,000 after purchasing an additional 178,258 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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.