Equity LifeStyle Properties (NYSE:ELS) PT Raised to $76.00 at Evercore ISI

Equity LifeStyle Properties (NYSE:ELS) had its price target raised by Evercore ISI from $73.00 to $76.00 in a research report sent to investors on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the company. Truist Financial increased their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a hold rating in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $69.25.

Equity LifeStyle Properties Stock Down 1.3 %

Shares of NYSE:ELS opened at $73.49 on Monday. The firm has a market capitalization of $13.71 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The firm’s 50-day moving average is $70.70 and its two-hundred day moving average is $65.97.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. During the same quarter last year, the company earned $0.66 earnings per share. Equity LifeStyle Properties’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts predict that Equity LifeStyle Properties will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.4775 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Insider Activity at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ELS. Johnson Investment Counsel Inc. grew its holdings in shares of Equity LifeStyle Properties by 0.6% during the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after buying an additional 152 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Equity LifeStyle Properties by 0.9% in the 2nd quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after purchasing an additional 154 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Equity LifeStyle Properties by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after purchasing an additional 155 shares during the period. LRI Investments LLC raised its stake in shares of Equity LifeStyle Properties by 8.7% during the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 171 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Equity LifeStyle Properties by 4.7% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 177 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Company Profile

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.