Truist Financial Boosts Equity LifeStyle Properties (NYSE:ELS) Price Target to $71.00

Equity LifeStyle Properties (NYSE:ELS) had its price target increased by Truist Financial from $70.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the stock. Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Evercore ISI lifted their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Compass Point upped their target price 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. Finally, UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Trading Down 1.2 %

ELS opened at $70.89 on Tuesday. 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 company’s 50 day simple moving average is $70.81 and its two-hundred day simple moving average is $67.78. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 3.85 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.

Equity LifeStyle Properties (NYSE:ELS) last issued its 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 company had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. Analysts expect that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Insider Transactions at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the transaction, 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 11.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 completion of the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently made changes to their positions in ELS. Vestcor Inc raised its holdings in Equity LifeStyle Properties by 34.9% during the third quarter. Vestcor Inc now owns 5,609 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 1,450 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Equity LifeStyle Properties by 1.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,999 shares of the real estate investment trust’s stock worth $20,046,000 after acquiring an additional 2,647 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Equity LifeStyle Properties by 213.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 18,277 shares of the real estate investment trust’s stock worth $1,304,000 after acquiring an additional 12,454 shares in the last quarter. MML Investors Services LLC lifted its position in Equity LifeStyle Properties by 10.4% in the third quarter. MML Investors Services LLC now owns 8,202 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 770 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Equity LifeStyle Properties by 79.7% in the third quarter. National Bank of Canada FI now owns 237,766 shares of the real estate investment trust’s stock valued at $16,962,000 after acquiring an additional 105,435 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

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.