Equity LifeStyle Properties (NYSE:ELS) Given New $76.00 Price Target at Evercore ISI

Equity LifeStyle Properties (NYSE:ELS) had its price objective lifted 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.

Several other research firms also recently commented on ELS. Truist Financial increased their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a hold rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed a sector perform rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $70.67.

Equity LifeStyle Properties Price Performance

NYSE ELS opened at $73.54 on Monday. The firm’s 50 day moving average is $70.84 and its 200-day moving average is $66.02. 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 market capitalization of $13.71 billion, a PE ratio of 40.19, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Equity LifeStyle Properties has a 12-month low of $59.82 and a 12-month high of $76.60.

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 for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Equity LifeStyle Properties will post 2.91 earnings per share for the current fiscal 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 $0.4775 dividend. The ex-dividend date of this dividend is Friday, September 27th. 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 2.60%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Insider Buying and Selling

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties 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 completion of the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,808 shares of company stock valued at $6,348,011. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Equity LifeStyle Properties in the 2nd quarter valued at approximately $119,000. Cim LLC increased its stake in Equity LifeStyle Properties by 7.2% in the second quarter. Cim LLC now owns 41,573 shares of the real estate investment trust’s stock valued at $3,007,000 after acquiring an additional 2,779 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Equity LifeStyle Properties during the second quarter valued at approximately $1,010,000. Point72 Asset Management L.P. lifted its stake in Equity LifeStyle Properties by 744.8% during the second quarter. Point72 Asset Management L.P. now owns 251,747 shares of the real estate investment trust’s stock worth $16,396,000 after purchasing an additional 221,947 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Equity LifeStyle Properties in the 2nd quarter valued at $4,885,000. Institutional investors and hedge funds 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.