Equity LifeStyle Properties, Inc. (NYSE:ELS) Receives $74.33 Consensus Target Price from Brokerages

Equity LifeStyle Properties, Inc. (NYSE:ELS) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $74.33.

A number of equities analysts have issued reports on the company. Truist Financial reduced their target price on Equity LifeStyle Properties from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Evercore ISI dropped their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research report on Tuesday, April 8th. They set a “buy” rating and a $80.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Finally, BMO Capital Markets reduced their target price on Equity LifeStyle Properties from $78.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd.

Insiders Place Their Bets

In other news, CFO Paul Seavey sold 10,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total value of $647,200.00. Following the completion of the sale, the chief financial officer now owns 78,162 shares of the company’s stock, valued at approximately $5,058,644.64. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

Institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC boosted its position in shares of Equity LifeStyle Properties by 62.3% during the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 8,873 shares in the last quarter. Jane Street Group LLC increased its position in shares of Equity LifeStyle Properties by 598.5% during the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after acquiring an additional 102,303 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Equity LifeStyle Properties by 810.9% during the first quarter. Bayforest Capital Ltd now owns 19,284 shares of the real estate investment trust’s stock valued at $1,286,000 after acquiring an additional 17,167 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Equity LifeStyle Properties by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,849,471 shares of the real estate investment trust’s stock valued at $123,360,000 after acquiring an additional 142,239 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Equity LifeStyle Properties by 14.1% in the first quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after buying an additional 804 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS opened at $65.33 on Friday. Equity LifeStyle Properties has a twelve month low of $58.86 and a twelve month high of $76.60. The firm has a market cap of $12.49 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The business has a fifty day moving average of $65.12 and a 200-day moving average of $66.92.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. The business had revenue of $327.21 million for the quarter, compared to analysts’ expectations of $391.34 million. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. During the same quarter last year, the business earned $0.59 earnings per share. On average, equities research analysts predict that Equity LifeStyle Properties will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.15%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 106.74%.

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.