Equity Lifestyle Properties, Inc. (ELS) Downgraded to “Hold” at Zacks Investment Research
Equity Lifestyle Properties, Inc. (NYSE:ELS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
ELS has been the subject of several other research reports. TheStreet upgraded Equity Lifestyle Properties from a “c+” rating to a “b” rating in a research note on Monday, April 17th. Evercore ISI downgraded Equity Lifestyle Properties from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.08.
Shares of Equity Lifestyle Properties (NYSE ELS) traded up 0.07% during trading on Wednesday, hitting $85.21. 384,798 shares of the stock were exchanged. The firm’s 50-day moving average is $83.31 and its 200 day moving average is $77.22. The company has a market cap of $7.40 billion, a P/E ratio of 43.04 and a beta of 0.33. Equity Lifestyle Properties has a 1-year low of $65.87 and a 1-year high of $86.86.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, April 17th. The real estate investment trust reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. Equity Lifestyle Properties had a return on equity of 20.44% and a net margin of 21.87%. The business had revenue of $232.40 million during the quarter, compared to the consensus estimate of $218.28 million. During the same quarter last year, the company earned $0.92 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Equity Lifestyle Properties will post $2.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a $0.4875 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.95 annualized dividend and a dividend yield of 2.29%. Equity Lifestyle Properties’s payout ratio is currently 98.49%.
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In other Equity Lifestyle Properties news, Vice Chairman Howard Walker sold 1,608 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $82.11, for a total value of $132,032.88. Following the sale, the insider now owns 57,265 shares of the company’s stock, valued at approximately $4,702,029.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al acquired a new stake in Equity Lifestyle Properties during the fourth quarter valued at $203,000. Dynamic Technology Lab Private Ltd acquired a new stake in Equity Lifestyle Properties during the fourth quarter valued at $523,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Equity Lifestyle Properties by 21.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,468 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 963 shares during the last quarter. AQR Capital Management LLC boosted its stake in Equity Lifestyle Properties by 9.5% in the fourth quarter. AQR Capital Management LLC now owns 74,785 shares of the real estate investment trust’s stock valued at $5,392,000 after buying an additional 6,469 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Equity Lifestyle Properties by 1,299.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 58,677 shares of the real estate investment trust’s stock valued at $4,521,000 after buying an additional 54,485 shares during the last quarter. 96.40% of the stock is currently owned by hedge funds and other institutional investors.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an 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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