Equity LifeStyle Properties (NYSE:ELS) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties (NYSE:ELS) in a report issued on Thursday, MarketBeat.com reports. The brokerage issued a hold rating and a $72.00 target price on the real estate investment trust’s stock.

ELS has been the subject of several other reports. Evercore ISI boosted their price objective on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Truist Financial lifted their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.44.

Equity LifeStyle Properties Trading Up 0.2 %

Shares of Equity LifeStyle Properties stock opened at $70.14 on Thursday. The firm has a 50-day simple moving average of $71.34 and a two-hundred day simple moving average of $66.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. 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 market cap of $13.08 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, equities analysts predict that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.4775 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Insider Activity at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,808 shares of company stock worth $6,348,011. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Centersquare Investment Management LLC lifted its stake in Equity LifeStyle Properties by 22.9% in the first quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock worth $7,417,000 after acquiring an additional 22,900 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Equity LifeStyle Properties by 36.0% during the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Equity LifeStyle Properties by 3.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock valued at $21,952,000 after buying an additional 12,444 shares during the last quarter. Tidal Investments LLC raised its stake in Equity LifeStyle Properties by 35.3% in the first quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock valued at $5,106,000 after buying an additional 20,697 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock worth $22,321,000 after acquiring an additional 354,718 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

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.