Equity Lifestyle Properties Inc. (ELS) Downgraded by TheStreet to Hold
Equity Lifestyle Properties Inc. (NYSE:ELS) was downgraded by equities research analysts at TheStreet from a “buy” rating to a “hold” rating in a research note issued on Friday.
ELS has been the topic of a number of other research reports. Citigroup Inc. increased their price objective on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. BMO Capital Markets reissued a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of C$71.25.
Equity Lifestyle Properties (NYSE:ELS) traded down 0.06% during mid-day trading on Friday, reaching $71.46. 216,421 shares of the company’s stock were exchanged. Equity Lifestyle Properties has a 52 week low of $57.71 and a 52 week high of $83.19. The company has a market capitalization of $6.10 billion, a P/E ratio of 38.56 and a beta of 0.40. The company’s 50 day moving average price is $77.21 and its 200-day moving average price is $75.71.
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Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm earned $210.10 million during the quarter, compared to the consensus estimate of $114.76 million. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. On average, equities research analysts expect that Equity Lifestyle Properties will post $3.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 2.38%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 91.40%.
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Equity Lifestyle Properties by 405.2% in the second quarter. Royal Bank of Canada now owns 81,978 shares of the company’s stock valued at $6,563,000 after buying an additional 65,751 shares during the period. Cohen & Steers Inc. boosted its stake in Equity Lifestyle Properties by 6.5% in the second quarter. Cohen & Steers Inc. now owns 2,999,366 shares of the company’s stock valued at $240,099,000 after buying an additional 183,619 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Equity Lifestyle Properties by 18.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,131,855 shares of the company’s stock valued at $90,756,000 after buying an additional 173,067 shares during the period. Amalgamated Bank boosted its stake in Equity Lifestyle Properties by 22.4% in the second quarter. Amalgamated Bank now owns 12,199 shares of the company’s stock valued at $972,000 after buying an additional 2,234 shares during the period. Finally, Legal & General Group Plc boosted its stake in Equity Lifestyle Properties by 12.3% in the second quarter. Legal & General Group Plc now owns 162,763 shares of the company’s stock valued at $13,030,000 after buying an additional 17,879 shares during the period. 94.83% of the stock is owned by institutional investors.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations.
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