Equity LifeStyle Properties, Inc. (NYSE:ELS) Receives $68.06 Consensus Target Price from Brokerages

Equity LifeStyle Properties, Inc. (NYSE:ELS) has been given an average rating of “Hold” by the nine brokerages that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $68.39.

Several brokerages have recently weighed in on ELS. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Evercore ISI upped 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 note on Tuesday, July 23rd. Barclays decreased their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Finally, Truist Financial decreased their target price on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd.

Equity LifeStyle Properties Price Performance

ELS opened at $67.00 on Monday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $74.04. The company has a 50 day moving average of $64.21 and a two-hundred day moving average of $64.76. The company has a market cap of $12.50 billion, a P/E ratio of 36.61, a P/E/G ratio of 3.95 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share 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 analysts’ expectations 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. On average, analysts expect that Equity LifeStyle Properties will post 2.9 earnings per share for the current year.

Equity LifeStyle Properties Announces Dividend

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

Institutional Trading of Equity LifeStyle Properties

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after purchasing an additional 240,853 shares during the period. Norges Bank acquired a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth $455,623,000. Boston Partners raised its holdings in shares of Equity LifeStyle Properties by 4.2% during the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after purchasing an additional 113,891 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Equity LifeStyle Properties by 17.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock worth $193,533,000 after purchasing an additional 410,042 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Equity LifeStyle Properties by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,559,965 shares of the real estate investment trust’s stock worth $180,585,000 after purchasing an additional 9,357 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

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.