Equity Lifestyle Properties, Inc. (NYSE:ELS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Equity Lifestyle Properties, Inc. (NYSE:ELS) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $69.4583.

Several research analysts have issued reports on ELS shares. Royal Bank Of Canada upgraded Equity Lifestyle Properties from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $66.00 to $70.00 in a research report on Monday, December 8th. Wells Fargo & Company lowered their price target on shares of Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a “strong-buy” rating in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft lowered shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Tuesday. Finally, Evercore ISI cut their price objective on shares of Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating on the stock in a report on Thursday, October 23rd.

Institutional Investors Weigh In On Equity Lifestyle Properties

A number of large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its stake in Equity Lifestyle Properties by 114.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust’s stock worth $326,272,000 after acquiring an additional 2,868,678 shares during the last quarter. Norges Bank purchased a new stake in Equity Lifestyle Properties during the 2nd quarter valued at about $164,862,000. Daiwa Securities Group Inc. increased its holdings in shares of Equity Lifestyle Properties by 253.7% in the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after purchasing an additional 2,257,299 shares during the period. Centersquare Investment Management LLC raised its stake in shares of Equity Lifestyle Properties by 2,448.8% in the third quarter. Centersquare Investment Management LLC now owns 1,963,378 shares of the real estate investment trust’s stock worth $119,177,000 after purchasing an additional 1,886,348 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Equity Lifestyle Properties by 32.5% during the third quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after purchasing an additional 1,674,281 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Trading Up 0.6%

Shares of Equity Lifestyle Properties stock opened at $63.37 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.27. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 3.35 and a beta of 0.77. Equity Lifestyle Properties has a twelve month low of $58.15 and a twelve month high of $70.35. The business has a 50-day moving average price of $61.72 and a 200-day moving average price of $61.28.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $393.31 million during the quarter, compared to analyst estimates of $389.39 million. Equity Lifestyle Properties had a net margin of 24.97% and a return on equity of 20.99%. Equity Lifestyle Properties’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. Equities research analysts anticipate that Equity Lifestyle Properties will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, December 26th. This represents a $2.06 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio is presently 103.52%.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.