Equity Lifestyle Properties (NYSE:ELS) Stock Gets Price Target Cut from Royal Bank Of Canada

Equity Lifestyle Properties (NYSE:ELS) had its price target reduced by Royal Bank Of Canada from $71.00 to $68.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on ELS. Barclays set a $69.00 price target on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a report on Monday, August 17th. Truist Financial set a $64.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Friday, September 11th. Morgan Stanley reissued a “mixed” rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Weiss Ratings lowered Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 8th. Finally, UBS Group cut their target price on Equity Lifestyle Properties from $76.00 to $67.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.66.

Equity Lifestyle Properties Stock Performance

NYSE:ELS opened at $60.31 on Tuesday. The company has a market capitalization of $11.70 billion, a PE ratio of 19.11, a P/E/G ratio of 3.54 and a beta of 0.63. The company has a 50 day simple moving average of $61.72 and a two-hundred day simple moving average of $63.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. Equity Lifestyle Properties has a fifty-two week low of $57.46 and a fifty-two week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $383.66 million. During the same quarter in the previous year, the business posted $0.69 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts anticipate that Equity Lifestyle Properties will post 3.20 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were paid a dividend of $0.5425 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.17 annualized dividend and a yield of 3.6%. Equity Lifestyle Properties’s dividend payout ratio is currently 104.33%.

Institutional Investors Weigh In On Equity Lifestyle Properties

A number of large investors have recently bought and sold shares of the stock. Versant Capital Management Inc acquired a new position in shares of Equity Lifestyle Properties during the third quarter valued at about $26,000. Parkside Financial Bank & Trust grew its stake in shares of Equity Lifestyle Properties by 126.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 232 shares during the period. Mather Group LLC. grew its stake in shares of Equity Lifestyle Properties by 122.0% in the 3rd quarter. Mather Group LLC. now owns 535 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 294 shares during the period. YANKCOM Partnership increased its position in Equity Lifestyle Properties by 44.9% in the 3rd quarter. YANKCOM Partnership now owns 549 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 170 shares in the last quarter. Finally, Clearstead Trust LLC bought a new stake in Equity Lifestyle Properties in the 2nd quarter valued at about $33,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.