Equity Lifestyle Properties, Inc. (NYSE:ELS) Receives $68.70 Average Target Price from Analysts

Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) have earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $68.4464.

A number of research firms have recently issued reports on ELS. Barclays restated an “equal weight” rating and issued a $68.00 target price on shares of Equity Lifestyle Properties in a report on Tuesday, July 14th. Morgan Stanley reissued a “mixed” rating and set a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday. Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a research note on Wednesday, July 22nd. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company lowered their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Equity Lifestyle Properties in the second quarter worth $1,576,449,000. Price T Rowe Associates Inc. MD boosted its position in Equity Lifestyle Properties by 303.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock valued at $966,648,000 after purchasing an additional 11,999,874 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after purchasing an additional 2,257,299 shares during the last quarter. Cohen & Steers Inc. grew its stake in Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after purchasing an additional 2,246,622 shares in the last quarter. Finally, Norges Bank purchased a new position in Equity Lifestyle Properties in the fourth quarter valued at about $125,352,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Stock Performance

Equity Lifestyle Properties stock opened at $65.00 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market cap of $12.62 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 3.73 and a beta of 0.64. Equity Lifestyle Properties has a fifty-two week low of $58.72 and a fifty-two week high of $69.00. The firm’s 50 day simple moving average is $64.49 and its 200-day simple moving average is $64.53.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.22). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The firm had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. During the same period in the prior year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Equity Lifestyle Properties will post 3.19 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 104.33%.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.