Equity LifeStyle Properties (NYSE:ELS) Hits New 52-Week High at $75.89

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) reached a new 52-week high on Friday . The company traded as high as $75.89 and last traded at $75.64, with a volume of 14608 shares traded. The stock had previously closed at $75.23.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ELS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Truist Financial increased their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI increased their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.88.

Equity LifeStyle Properties Stock Performance

The business has a 50-day moving average of $70.08 and a two-hundred day moving average of $65.81. The company has a market cap of $14.22 billion, a P/E ratio of 41.67, a P/E/G ratio of 4.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly 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 business had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. On average, sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.4775 dividend. This represents a $1.91 annualized dividend and a yield of 2.50%. 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 (DPR) is currently 104.37%.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total value 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 $15,575,398.71. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ELS. Norges Bank purchased a new position in shares of Equity LifeStyle Properties in the fourth quarter worth about $455,623,000. PGGM Investments raised its stake in shares of Equity LifeStyle Properties by 4,586.1% in the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after purchasing an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Equity LifeStyle Properties by 55.1% in the first quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after purchasing an additional 536,864 shares during the last quarter. ProShare Advisors LLC raised its position in Equity LifeStyle Properties by 4,590.4% during the first quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock valued at $29,614,000 after acquiring an additional 450,042 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Equity LifeStyle Properties by 569.9% during the second quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock valued at $32,235,000 after acquiring an additional 421,062 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

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.