Equity LifeStyle Properties (NYSE:ELS) Upgraded at Truist Financial

Truist Financial upgraded shares of Equity LifeStyle Properties (NYSE:ELS) from a hold rating to a buy rating in a report issued on Friday, MarketBeat Ratings reports.

A number of other research analysts also recently commented on the company. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $72.00 to $80.00 in a report on Thursday, January 2nd. Wells Fargo & Company raised shares of 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 report on Thursday, September 19th. Compass Point increased 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. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $73.30.

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock opened at $66.52 on Friday. The business has a 50-day simple moving average of $68.54 and a 200-day simple moving average of $69.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $76.60. The company has a market cap of $12.71 billion, a PE ratio of 34.29, a P/E/G ratio of 3.21 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The firm had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. On average, equities research analysts forecast that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Hedge Funds Weigh In On Equity LifeStyle Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Board of the Pension Protection Fund purchased a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at approximately $33,000. UMB Bank n.a. lifted its stake in shares of Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 417 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Equity LifeStyle Properties by 43.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 171 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 146 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Equity LifeStyle Properties in the second quarter worth approximately $54,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.