Truist Financial Boosts Equity LifeStyle Properties (NYSE:ELS) Price Target to $71.00

Equity LifeStyle Properties (NYSE:ELS) had its price target increased by Truist Financial from $70.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on ELS. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Evercore ISI increased their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Equity LifeStyle Properties Trading Down 1.2 %

Shares of ELS opened at $70.89 on Tuesday. The stock has a market capitalization of $13.54 billion, a P/E ratio of 36.54, a PEG ratio of 3.85 and a beta of 0.79. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month 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. The firm has a fifty day simple moving average of $70.81 and a two-hundred day simple moving average of $67.78.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.28). The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. On average, research analysts anticipate that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is presently 98.45%.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the sale, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated 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 directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

Hedge funds and other institutional investors have recently modified their holdings of the business. Moran Wealth Management LLC raised its holdings in Equity LifeStyle Properties by 0.8% in the third quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock worth $1,264,000 after purchasing an additional 143 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Equity LifeStyle Properties by 0.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after buying an additional 152 shares during the period. Toronto Dominion Bank boosted its position in 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 worth $1,106,000 after purchasing an additional 154 shares in the last quarter. Finally, LRI Investments LLC grew its position in 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 valued at $139,000 after buying an additional 171 shares during the period. 97.21% of the stock is currently owned by institutional investors.

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.