Royal Bank of Canada Reiterates “Sector Perform” Rating for Equity LifeStyle Properties (NYSE:ELS)

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

A number of other research analysts have also recently weighed in on the stock. Evercore ISI raised their price objective on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an in-line rating in a research note on Tuesday. Truist Financial dropped their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a hold rating for the company in a research report on Thursday, May 2nd. Finally, Barclays reduced their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating on the stock in a research report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $68.39.

Equity LifeStyle Properties Stock Up 1.4 %

ELS opened at $67.02 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 3.87 and a beta of 0.77. Equity LifeStyle Properties has a one year low of $59.82 and a one year high of $74.04. The business’s fifty day moving average is $64.16 and its two-hundred day moving average is $64.86.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data 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 business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Analysts anticipate that Equity LifeStyle Properties will post 2.9 EPS for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a dividend of $0.477 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 2.85%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Equity LifeStyle Properties by 0.3% during the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after buying an additional 155 shares during the period. Donoghue Forlines LLC grew its position in Equity LifeStyle Properties by 2.3% during the fourth quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $508,000 after acquiring an additional 160 shares during the period. LRI Investments LLC increased its stake 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 worth $139,000 after acquiring an additional 171 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Equity LifeStyle Properties by 4.7% in the 4th 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. Finally, Lindbrook Capital LLC lifted its stake in shares of Equity LifeStyle Properties by 40.5% in the 4th quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 182 shares in the last quarter. 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.