Equity LifeStyle Properties, Inc. (NYSE:ELS) Given Consensus Rating of “Moderate Buy” by Brokerages

Equity LifeStyle Properties, Inc. (NYSE:ELS) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $72.50.

A number of analysts have recently issued reports on the stock. Evercore ISI lifted their price objective 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. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Compass Point boosted their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Truist Financial upped their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Equity LifeStyle Properties by 56.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock worth $159,232,000 after purchasing an additional 805,681 shares during the last quarter. Franklin Resources Inc. increased its stake in Equity LifeStyle Properties by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 809,801 shares of the real estate investment trust’s stock worth $55,034,000 after buying an additional 59,243 shares during the period. Tidal Investments LLC boosted its position in Equity LifeStyle Properties by 15.8% in the 3rd quarter. Tidal Investments LLC now owns 112,115 shares of the real estate investment trust’s stock valued at $7,998,000 after buying an additional 15,310 shares during the period. Destination Wealth Management acquired a new position in shares of Equity LifeStyle Properties in the third quarter worth $262,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Equity LifeStyle Properties in the third quarter worth $72,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $67.78 on Thursday. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The stock’s fifty day moving average price is $69.81 and its two-hundred day moving average price is $69.12. The firm has a market cap of $12.95 billion, a PE ratio of 34.94, a PEG ratio of 3.61 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same period last year, the firm earned $0.71 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts forecast that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.81%. Equity LifeStyle Properties’s payout ratio is 98.45%.

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.