Zacks Investment Research upgraded shares of Equity Lifestyle Properties (NYSE:ELS) from a hold rating to a buy rating in a research note released on Wednesday. The brokerage currently has $96.00 price target on the real estate investment trust’s stock.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
Several other equities analysts have also issued reports on ELS. BMO Capital Markets reiterated a hold rating and issued a $95.00 price objective on shares of Equity Lifestyle Properties in a research report on Tuesday, January 9th. Cantor Fitzgerald set a $85.00 price objective on Equity Lifestyle Properties and gave the company a hold rating in a research report on Tuesday, January 30th. TheStreet lowered Equity Lifestyle Properties from a b- rating to a c+ rating in a research report on Tuesday, January 16th. Robert W. Baird set a $90.00 price objective on Equity Lifestyle Properties and gave the company a neutral rating in a research report on Friday, January 5th. Finally, Evercore ISI upgraded Equity Lifestyle Properties from an underperform rating to an in-line rating in a research report on Monday, December 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Equity Lifestyle Properties currently has an average rating of Hold and a consensus price target of $88.33.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.33). Equity Lifestyle Properties had a net margin of 22.41% and a return on equity of 20.84%. The business had revenue of $229.99 million during the quarter, compared to analyst estimates of $210.71 million. equities analysts forecast that Equity Lifestyle Properties will post 3.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.20 dividend on an annualized basis and a yield of 2.51%. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.49. Equity Lifestyle Properties’s dividend payout ratio is 61.11%.
In other Equity Lifestyle Properties news, Vice Chairman Howard Walker sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $88.74, for a total transaction of $106,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roger Maynard sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $85.22, for a total value of $852,200.00. Following the transaction, the executive vice president now directly owns 161,489 shares of the company’s stock, valued at approximately $13,762,092.58. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC acquired a new stake in shares of Equity Lifestyle Properties in the 4th quarter valued at approximately $137,000. Quantbot Technologies LP acquired a new stake in shares of Equity Lifestyle Properties in the 3rd quarter valued at approximately $148,000. American International Group Inc. acquired a new stake in shares of Equity Lifestyle Properties in the 4th quarter valued at approximately $172,000. Advisor Group Inc. boosted its holdings in shares of Equity Lifestyle Properties by 37.5% in the 3rd quarter. Advisor Group Inc. now owns 2,048 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 559 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Equity Lifestyle Properties by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,577 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 178 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
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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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