Equity LifeStyle Properties (NYSE:ELS) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Equity LifeStyle Properties (NYSE:ELS) in a report released on Wednesday morning, Benzinga reports. They currently have a $68.00 price objective on the real estate investment trust’s stock.

Several other brokerages have also recently commented on ELS. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an in-line rating in a research report on Tuesday, July 23rd. Truist Financial reduced their target price on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a hold rating on the stock in a report on Thursday, May 2nd. Finally, Barclays reduced their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating on the stock in a report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $68.39.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $67.00 on Wednesday. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month high of $74.04. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $64.21 and a two-hundred day simple moving average of $64.84. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 3.95 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Analysts forecast that Equity LifeStyle Properties will post 2.9 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.477 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.91 annualized dividend and a dividend yield of 2.85%. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors have recently added to or reduced their stakes in ELS. Leisure Capital Management bought a new position in Equity LifeStyle Properties during the second quarter worth about $490,000. Eagle Bay Advisors LLC boosted its position in Equity LifeStyle Properties by 1,544.0% during the second quarter. Eagle Bay Advisors LLC now owns 1,381 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 1,297 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Equity LifeStyle Properties by 25.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,426 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 486 shares during the period. Amica Mutual Insurance Co. boosted its position in Equity LifeStyle Properties by 31.8% during the second quarter. Amica Mutual Insurance Co. now owns 19,310 shares of the real estate investment trust’s stock worth $1,258,000 after purchasing an additional 4,657 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Equity LifeStyle Properties by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 1,853,283 shares of the real estate investment trust’s stock valued at $120,704,000 after acquiring an additional 27,773 shares during the period. 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.