Truist Financial Forecasts Strong Price Appreciation for Equity LifeStyle Properties (NYSE:ELS) Stock

Equity LifeStyle Properties (NYSE:ELS) had its price target lifted by Truist Financial from $70.00 to $71.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the stock. Compass Point raised their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target for the company. Evercore ISI raised their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reiterated 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. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Trading Down 0.4 %

Shares of Equity LifeStyle Properties stock opened at $72.24 on Tuesday. Equity LifeStyle Properties has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The business has a 50 day moving average price of $70.89 and a 200 day moving average price of $67.65. The company has a market capitalization of $13.80 billion, a P/E ratio of 37.24, a P/E/G ratio of 3.96 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The company had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. Sell-side analysts anticipate that Equity LifeStyle Properties will post 2.9 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.64%. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Insider Transactions at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction dated 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 owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total value 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 $15,575,398.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock worth $6,348,011 in the last three months. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Equity LifeStyle Properties

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Equity LifeStyle Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after purchasing an additional 240,853 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Equity LifeStyle Properties by 0.9% in the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after acquiring an additional 39,864 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Equity LifeStyle Properties by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after purchasing an additional 153,715 shares during the last quarter. Boston Partners grew its stake in Equity LifeStyle Properties by 4.2% during the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after purchasing an additional 113,891 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Equity LifeStyle Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock worth $176,250,000 after purchasing an additional 178,258 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

About Equity LifeStyle Properties

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.