Equity LifeStyle Properties (NYSE:ELS) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Equity LifeStyle Properties (NYSE:ELS) from a hold rating to a buy rating in a research note released on Thursday, Marketbeat.com reports. They currently have $80.00 price target on the real estate investment trust’s stock, up from their prior price target of $72.00.

A number of other equities analysts have also weighed in on ELS. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Compass Point lifted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.30.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $67.79 on Thursday. The company has a market cap of $12.95 billion, a P/E ratio of 34.94, a P/E/G ratio of 3.61 and a beta of 0.79. The business has a fifty day simple moving average of $69.39 and a 200-day simple moving average of $69.34. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The business had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. Equities research analysts forecast that Equity LifeStyle Properties will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Institutional Trading of Equity LifeStyle Properties

Hedge funds have recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 417 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 146 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Equity LifeStyle Properties during the second quarter valued at about $54,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity LifeStyle Properties during the third quarter worth about $72,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Equity LifeStyle Properties in the third quarter worth about $75,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Company Profile

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.