Equity LifeStyle Properties, Inc. (NYSE:ELS) Receives $68.94 Average Price Target from Brokerages

Equity LifeStyle Properties, Inc. (NYSE:ELS) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $68.94.

Several equities analysts have commented on the stock. Barclays decreased their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Truist Financial upped 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. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 23rd. Finally, 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.

Equity LifeStyle Properties Stock Down 0.1 %

Equity LifeStyle Properties stock opened at $70.80 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The company’s 50-day moving average is $66.85 and its 200-day moving average is $65.04. The firm has a market capitalization of $13.20 billion, a PE ratio of 38.69, a P/E/G ratio of 4.06 and a beta of 0.77. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $74.04.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data 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). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. During the same quarter in the prior year, the company earned $0.66 EPS. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that Equity LifeStyle Properties will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business’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 transaction of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equity LifeStyle Properties

Institutional investors have recently made changes to their positions in the stock. Mather Group LLC. bought a new position in shares of Equity LifeStyle Properties during the first quarter worth about $25,000. Rise Advisors LLC bought a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Equity LifeStyle Properties during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Equity LifeStyle Properties during the fourth quarter worth $35,000. Finally, Blue Trust Inc. lifted its holdings in Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 391 shares during the period. Institutional investors own 97.21% of the company’s stock.

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.