Equity LifeStyle Properties (NYSE:ELS) Price Target Raised to $70.00

Equity LifeStyle Properties (NYSE:ELS) had its price objective increased by Truist Financial from $65.00 to $70.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada reissued 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 report on Tuesday, July 23rd. Finally, Barclays lowered 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 research report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $68.94.

Equity LifeStyle Properties Trading Up 2.5 %

NYSE ELS opened at $70.43 on Tuesday. The stock has a market cap of $13.14 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 3.96 and a beta of 0.77. 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 stock has a 50 day simple moving average of $64.60 and a two-hundred day simple moving average of $64.80. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $74.04.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data 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 company had revenue of $380.00 million for the quarter, compared to the consensus estimate 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 revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, analysts forecast that Equity LifeStyle Properties will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.4775 dividend. The ex-dividend date is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a yield of 2.71%. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of hedge funds have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in Equity LifeStyle Properties during the 1st quarter worth approximately $25,000. Rise Advisors LLC acquired a new position in Equity LifeStyle Properties during the first quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in Equity LifeStyle Properties during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Equity LifeStyle Properties during the fourth quarter worth $35,000. Finally, Blue Trust Inc. boosted its position in Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 391 shares during the period. 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.