Equity LifeStyle Properties (NYSE:ELS) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Equity LifeStyle Properties (NYSE:ELS) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $68.00 price objective on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on ELS. Barclays dropped their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating on the stock in a research report on Friday, April 26th. Evercore ISI upped their target price on Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an in-line rating in a research note on Tuesday, July 23rd. Finally, Truist Financial reduced their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a hold rating on the stock in a research note on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Equity LifeStyle Properties presently has an average rating of Hold and a consensus target price of $68.39.

Equity LifeStyle Properties Stock Up 1.4 %

Equity LifeStyle Properties stock opened at $67.00 on Wednesday. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $74.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $12.50 billion, a P/E ratio of 36.61, a PEG ratio of 3.95 and a beta of 0.77. The stock has a 50-day simple moving average of $64.21 and a 200-day simple moving average of $64.84.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities research analysts expect that Equity LifeStyle Properties will post 2.9 earnings per share for the current year.

Equity LifeStyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.477 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 2.85%. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Institutional Trading of Equity LifeStyle Properties

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Equity LifeStyle Properties by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock worth $4,224,000 after purchasing an additional 155 shares during the last quarter. Donoghue Forlines LLC raised its holdings in shares of Equity LifeStyle Properties by 2.3% during the fourth quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 160 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Equity LifeStyle Properties by 8.7% during the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 171 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Equity LifeStyle Properties by 4.7% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 177 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of Equity LifeStyle Properties by 40.5% during the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 182 shares during the period. 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.