Jefferies Financial Group Begins Coverage on Equity LifeStyle Properties (NYSE:ELS)

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

ELS has been the topic of a number of other research reports. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Truist Financial increased their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Evercore ISI increased their price objective on shares of 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 investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.44.

Equity LifeStyle Properties Trading Down 0.2 %

Shares of Equity LifeStyle Properties stock opened at $69.97 on Thursday. The stock has a market capitalization of $13.05 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $71.30 and a 200 day simple moving average of $66.70. Equity LifeStyle Properties has a 12-month low of $59.82 and a 12-month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million for 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%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. Research analysts expect that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.4775 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Insider Activity

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred on Friday, August 16th. The shares were 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred 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 directly owns 221,777 shares in the company, valued at $15,575,398.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ELS. PGGM Investments raised its holdings in Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after buying an additional 1,804,156 shares during the period. Principal Financial Group Inc. raised its holdings in Equity LifeStyle Properties by 55.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after buying an additional 536,864 shares during the period. ProShare Advisors LLC raised its holdings in Equity LifeStyle Properties by 4,590.4% during the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after buying an additional 450,042 shares during the period. Daiwa Securities Group Inc. raised its holdings in Equity LifeStyle Properties by 569.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after buying an additional 421,062 shares during the period. Finally, National Bank of Canada FI raised its holdings in Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock worth $22,321,000 after buying an additional 354,718 shares during the period. Institutional investors 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.