Equity LifeStyle Properties (NYSE:ELS) Price Target Cut to $71.00 by Analysts at Evercore ISI

Equity LifeStyle Properties (NYSE:ELSGet Rating) had its target price cut by Evercore ISI from $73.00 to $71.00 in a research note released on Monday, The Fly reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the company. BMO Capital Markets reduced their price target on Equity LifeStyle Properties from $87.00 to $75.00 in a research report on Tuesday, July 19th. Truist Financial reaffirmed a buy rating and set a $77.00 price objective on shares of Equity LifeStyle Properties in a research report on Thursday, July 21st. Colliers Securities set a $92.00 target price on shares of Equity LifeStyle Properties in a research note on Tuesday, July 19th. Wolfe Research initiated coverage on shares of Equity LifeStyle Properties in a research note on Friday, July 15th. They issued a peer perform rating for the company. Finally, Robert W. Baird cut their target price on shares of Equity LifeStyle Properties from $89.00 to $83.00 in a research note on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $81.86.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $67.27 on Monday. The business’s 50 day simple moving average is $72.59 and its 200-day simple moving average is $73.89. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 5.12 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties has a 12 month low of $66.28 and a 12 month high of $88.70.

Equity LifeStyle Properties (NYSE:ELSGet Rating) last released its quarterly earnings data on Monday, July 18th. The real estate investment trust reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Equity LifeStyle Properties had a return on equity of 19.19% and a net margin of 20.28%. The firm had revenue of $365.31 million for the quarter, compared to analyst estimates of $331.29 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Equity LifeStyle Properties will post 2.73 earnings per share for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.64 dividend on an annualized basis and a yield of 2.44%. Equity LifeStyle Properties’s payout ratio is presently 107.90%.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in ELS. DigitalBridge Group Inc. increased its stake in shares of Equity LifeStyle Properties by 4,120.9% in the 1st quarter. DigitalBridge Group Inc. now owns 6,922,340 shares of the real estate investment trust’s stock valued at $21,421,000 after acquiring an additional 6,758,340 shares in the last quarter. Norges Bank purchased a new position in Equity LifeStyle Properties during the 4th quarter worth $287,372,000. JPMorgan Chase & Co. boosted its holdings in Equity LifeStyle Properties by 55.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,135,313 shares of the real estate investment trust’s stock worth $361,885,000 after acquiring an additional 1,823,555 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Equity LifeStyle Properties by 147.1% in the 1st quarter. Invesco Ltd. now owns 2,541,777 shares of the real estate investment trust’s stock worth $194,396,000 after buying an additional 1,512,944 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Equity LifeStyle Properties by 25.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,049,981 shares of the real estate investment trust’s stock worth $426,346,000 after buying an additional 1,220,440 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

About Equity LifeStyle Properties

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We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.

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Analyst Recommendations for Equity LifeStyle Properties (NYSE:ELS)

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