Equity Lifestyle Properties, Inc. (NYSE:ELS) Given Average Rating of “Hold” by Brokerages
Equity Lifestyle Properties, Inc. (NYSE:ELS) has earned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $82.00.
A number of brokerages recently issued reports on ELS. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Wednesday, June 7th. BidaskClub lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a report on Thursday. TheStreet upgraded Equity Lifestyle Properties from a “c+” rating to a “b” rating in a report on Monday, April 17th. Cantor Fitzgerald restated a “neutral” rating and set a $81.00 target price (up previously from $75.00) on shares of Equity Lifestyle Properties in a report on Saturday, July 22nd. Finally, Evercore ISI upped their target price on Equity Lifestyle Properties from $74.00 to $77.00 and gave the stock an “underperform” rating in a report on Tuesday, April 18th.
In other Equity Lifestyle Properties news, Vice Chairman Howard Walker sold 1,608 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $82.11, for a total transaction of $132,032.88. Following the completion of the sale, the insider now owns 57,265 shares in the company, valued at $4,702,029.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Samuel Zell bought 805,333 shares of the stock in a transaction on Friday, July 21st. The shares were bought at an average price of $87.43 per share, with a total value of $70,410,264.19. The disclosure for this purchase can be found here. 6.10% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. KAMES CAPITAL plc bought a new stake in Equity Lifestyle Properties during the first quarter worth $1,159,000. Glen Harbor Capital Management LLC raised its stake in Equity Lifestyle Properties by 756.6% in the first quarter. Glen Harbor Capital Management LLC now owns 38,136 shares of the real estate investment trust’s stock worth $2,939,000 after buying an additional 33,684 shares in the last quarter. Sit Investment Associates Inc. raised its stake in Equity Lifestyle Properties by 103.8% in the first quarter. Sit Investment Associates Inc. now owns 2,650 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 1,350 shares in the last quarter. ProShare Advisors LLC raised its stake in Equity Lifestyle Properties by 676.6% in the first quarter. ProShare Advisors LLC now owns 164,844 shares of the real estate investment trust’s stock worth $1,719,000 after buying an additional 143,617 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Equity Lifestyle Properties by 0.3% in the first quarter. Profund Advisors LLC now owns 3,199 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 8 shares in the last quarter. Institutional investors own 96.34% of the company’s stock.
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Shares of Equity Lifestyle Properties (ELS) opened at 86.95 on Friday. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 43.00 and a beta of 0.31. The company’s 50 day moving average price is $86.01 and its 200-day moving average price is $80.53. Equity Lifestyle Properties has a 1-year low of $65.87 and a 1-year high of $88.16.
Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $221.30 million during the quarter, compared to analyst estimates of $209.80 million. Equity Lifestyle Properties had a return on equity of 20.72% and a net margin of 22.00%. Equity Lifestyle Properties’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities analysts forecast that Equity Lifestyle Properties will post $2.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.4875 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.95 dividend on an annualized basis and a yield of 2.24%. Equity Lifestyle Properties’s dividend payout ratio is currently 97.02%.
Equity Lifestyle Properties Company Profile
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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