Equity LifeStyle Properties (NYSE:ELS) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties (NYSE:ELS) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $72.00 price objective on the real estate investment trust’s stock.

ELS has been the subject of a number of other research reports. Truist Financial raised their price objective on shares of 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 research report on Wednesday, July 24th. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Evercore ISI upped their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Hold” and an average target price of $71.44.

Equity LifeStyle Properties Stock Up 0.2 %

Shares of NYSE:ELS opened at $70.14 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market cap of $13.08 billion, a P/E ratio of 38.33, a P/E/G ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $76.60. The firm has a fifty day moving average price of $71.34 and a 200 day moving average price of $66.61.

Equity LifeStyle Properties (NYSE:ELS) last posted 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). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.4775 per share. The ex-dividend date of this dividend was Friday, September 27th. This is an increase 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 2.72%. Equity LifeStyle Properties’s payout ratio is 104.37%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction that occurred on Monday, September 16th. The shares were 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 approximately $19,705,886.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equity LifeStyle Properties news, 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 value of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,808 shares of company stock valued at $6,348,011. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. Centersquare Investment Management LLC lifted its position in Equity LifeStyle Properties by 22.9% during the first quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock valued at $7,417,000 after buying an additional 22,900 shares in the last quarter. GAMMA Investing LLC raised its position in 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 purchasing an additional 217 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Equity LifeStyle Properties by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock worth $21,952,000 after purchasing an additional 12,444 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Equity LifeStyle Properties by 35.3% in the first quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock worth $5,106,000 after buying an additional 20,697 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Equity LifeStyle Properties by 46,368.4% in the first quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after buying an additional 354,718 shares in the last quarter. 97.21% of the stock is 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.