Equity LifeStyle Properties (NYSE:ELS) Hits New 12-Month Low Following Analyst Downgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS) reached a new 52-week low during mid-day trading on Friday after Barclays lowered their price target on the stock from $78.00 to $72.00. Barclays currently has an overweight rating on the stock. Equity LifeStyle Properties traded as low as $60.47 and last traded at $60.53, with a volume of 889533 shares trading hands. The stock had previously closed at $60.75.

Other analysts have also recently issued reports about the company. Truist Financial decreased their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, January 24th. Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.55.

Institutional Trading of Equity LifeStyle Properties

Hedge funds have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in Equity LifeStyle Properties in the first quarter valued at about $25,000. Rise Advisors LLC acquired a new position in Equity LifeStyle Properties during the first quarter worth about $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Equity LifeStyle Properties in the fourth quarter valued at about $35,000. Headlands Technologies LLC lifted its position in shares of Equity LifeStyle Properties by 143.8% during the 4th quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 368 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Equity LifeStyle Properties in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Down 0.4 %

The firm has a 50 day moving average of $64.53 and a two-hundred day moving average of $67.08. The stock has a market capitalization of $11.29 billion, a PE ratio of 33.07, a P/E/G ratio of 4.04 and a beta of 0.69. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.477 per share. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

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.