Equity LifeStyle Properties (NYSE:ELS) Trading 3.1% Higher – Time to Buy?

Equity LifeStyle Properties, Inc. (NYSE:ELS)’s share price traded up 3.1% during trading on Thursday . The company traded as high as $68.95 and last traded at $68.75. 1,422,568 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 1,285,235 shares. The stock had previously closed at $66.66.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ELS shares. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Royal Bank of Canada lowered their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Jefferies Financial Group raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $72.00 to $80.00 in a research note on Thursday, January 2nd. Finally, Evercore ISI dropped their price objective on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.78.

Equity LifeStyle Properties Stock Performance

The stock’s 50 day moving average is $66.97 and its two-hundred day moving average is $68.39. The firm has a market capitalization of $12.99 billion, a P/E ratio of 34.84, a P/E/G ratio of 3.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. As a group, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.515 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. This represents a $2.06 annualized dividend and a yield of 3.03%. Equity LifeStyle Properties’s dividend payout ratio is presently 105.64%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors have recently modified their holdings of the stock. National Pension Service bought a new position in Equity LifeStyle Properties during the 4th quarter worth approximately $25,000. Bessemer Group Inc. raised its holdings in Equity LifeStyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 210 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Equity LifeStyle Properties in the fourth quarter worth $30,000. Board of the Pension Protection Fund bought a new position in shares of Equity LifeStyle Properties during the fourth quarter worth $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 171 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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.