Evercore ISI Raises Equity LifeStyle Properties (NYSE:ELS) Price Target to $76.00

Equity LifeStyle Properties (NYSE:ELS) had its target price hoisted by Evercore ISI from $73.00 to $76.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the company. Truist Financial increased their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a hold rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated a sector perform rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $70.67.

Equity LifeStyle Properties Trading Up 0.1 %

Shares of Equity LifeStyle Properties stock opened at $73.54 on Monday. The firm has a market capitalization of $13.71 billion, a PE ratio of 40.19, a price-to-earnings-growth ratio of 4.32 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. The firm’s 50 day moving average is $70.84 and its 200 day moving average is $66.02. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60.

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 analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. During the same period in the previous year, the firm posted $0.66 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Equity LifeStyle Properties will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the 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 transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction 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. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors have recently made changes to their positions in the stock. Mather Group LLC. acquired a new position in shares of Equity LifeStyle Properties during the first quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in Equity LifeStyle Properties in the 1st quarter valued at $27,000. V Square Quantitative Management LLC bought a new stake in Equity LifeStyle Properties during the 2nd quarter valued at $30,000. Blue Trust Inc. raised its holdings in Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 391 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

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.