Equity LifeStyle Properties, Inc. (NYSE:ELS) Receives Consensus Rating of “Hold” from Analysts

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) have received a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $70.67.

ELS has been the subject of a number of analyst reports. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI boosted their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th.

Insiders Place Their Bets

In related news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,808 shares of company stock valued at $6,348,011. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several large investors have recently modified their holdings of the business. Cim LLC acquired a new position in Equity LifeStyle Properties in the 4th quarter worth $2,586,000. Centersquare Investment Management LLC raised its position in Equity LifeStyle Properties by 22.9% in the 1st 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 during the last quarter. GAMMA Investing LLC lifted its stake in Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Equity LifeStyle Properties by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock valued at $21,952,000 after acquiring an additional 12,444 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Equity LifeStyle Properties by 35.3% during the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock worth $5,106,000 after acquiring an additional 20,697 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Stock Performance

ELS opened at $69.28 on Friday. The stock’s 50 day simple moving average is $71.70 and its 200-day simple moving average is $66.39. 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 stock has a market cap of $12.92 billion, a PE ratio of 37.86, a P/E/G ratio of 4.22 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 announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) 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 the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. Sell-side analysts forecast that Equity LifeStyle Properties will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.4775 dividend. This represents a $1.91 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

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.