Analysts Set Equity LifeStyle Properties, Inc. (NYSE:ELS) Target Price at $72.50

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $72.50.

ELS has been the subject of a number of analyst reports. Truist Financial boosted their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Robert W. Baird raised their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Compass Point upped their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective on the stock.

Equity LifeStyle Properties Stock Up 0.6 %

ELS stock opened at $66.61 on Thursday. The stock has a market cap of $12.73 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.61 and a beta of 0.77. The firm’s 50-day simple moving average is $69.86 and its 200 day simple moving average is $69.02. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Equity LifeStyle Properties’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, sell-side analysts predict that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.86%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Institutional Investors Weigh In On Equity LifeStyle Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Townsquare Capital LLC raised its position in shares of Equity LifeStyle Properties by 23.7% during the third quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock worth $916,000 after purchasing an additional 2,458 shares during the period. Victory Capital Management Inc. increased its stake in Equity LifeStyle Properties by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after purchasing an additional 39,864 shares in the last quarter. Citigroup Inc. raised its holdings in Equity LifeStyle Properties by 16.7% during the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after buying an additional 30,489 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Equity LifeStyle Properties by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust’s stock valued at $2,211,000 after buying an additional 12,826 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Equity LifeStyle Properties by 95.3% in the third quarter. Sanctuary Advisors LLC now owns 32,578 shares of the real estate investment trust’s stock worth $2,311,000 after buying an additional 15,899 shares during the period. Institutional investors and hedge funds 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.