Equity LifeStyle Properties (NYSE:ELS) Hits New 1-Year Low Following Analyst Downgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS)’s share price reached a new 52-week low during trading on Friday after Barclays lowered their price target on the stock from $78.00 to $72.00. Barclays currently has an overweight rating on the stock. Equity LifeStyle Properties traded as low as $60.47 and last traded at $60.53, with a volume of 889533 shares. The stock had previously closed at $60.75.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective for the company. Finally, Truist Financial cut their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Equity LifeStyle Properties has an average rating of “Hold” and a consensus price target of $69.55.

Institutional Trading of Equity LifeStyle Properties

A number of large investors have recently made changes to their positions in the stock. Mather Group LLC. purchased a new position in Equity LifeStyle Properties during the first quarter worth about $25,000. Rise Advisors LLC purchased a new position in Equity LifeStyle Properties during the first quarter worth about $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Equity LifeStyle Properties during the fourth quarter worth about $35,000. Headlands Technologies LLC lifted its position in Equity LifeStyle Properties by 143.8% during the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 368 shares during the period. Finally, GAMMA Investing LLC purchased a new position in Equity LifeStyle Properties during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Down 0.4 %

The business has a fifty day moving average price of $64.41 and a 200 day moving average price of $67.06. The company has a market capitalization of $11.29 billion, a PE ratio of 33.08, a P/E/G ratio of 4.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.15%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 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.