Equity LifeStyle Properties (NYSE:ELS) Given New $73.00 Price Target at Truist Financial

Equity LifeStyle Properties (NYSE:ELS – Get Rating) had its price objective upped by Truist Financial from $71.00 to $73.00 in a research note released on Tuesday morning, The Fly reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on ELS. Evercore ISI cut their target price on Equity LifeStyle Properties from $71.00 to $70.00 in a research note on Tuesday, September 27th. StockNews.com raised Equity LifeStyle Properties from a sell rating to a hold rating in a research report on Tuesday, January 10th. Robert W. Baird cut their price target on Equity LifeStyle Properties from $76.00 to $68.00 in a report on Tuesday, October 25th. Royal Bank of Canada lowered their price objective on Equity LifeStyle Properties from $71.00 to $68.00 and set a sector perform rating on the stock in a research note on Wednesday, October 19th. Finally, Barclays decreased their price target on Equity LifeStyle Properties from $92.00 to $75.00 and set an overweight rating on the stock in a research report on Friday, October 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $74.43.

Equity LifeStyle Properties Trading Up 1.0 %

NYSE:ELS opened at $68.11 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 4.51 and a beta of 0.62. Equity LifeStyle Properties has a 1 year low of $56.91 and a 1 year high of $83.80. The stock has a fifty day moving average price of $65.10 and a two-hundred day moving average price of $67.50.

Equity LifeStyle Properties (NYSE:ELS – Get Rating) last issued its quarterly earnings results on Tuesday, October 18th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $381.00 million during the quarter, compared to analyst estimates of $375.16 million. Equity LifeStyle Properties had a return on equity of 18.30% and a net margin of 19.36%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Equity LifeStyle Properties will post 2.65 earnings per share for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 109.33%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Institutional investors have recently made changes to their positions in the stock. RB Capital Management LLC grew its position in Equity LifeStyle Properties by 6.1% in the 1st quarter. RB Capital Management LLC now owns 7,109 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 407 shares in the last quarter. Raymond James & Associates lifted its stake in Equity LifeStyle Properties by 50.0% in the 1st quarter. Raymond James & Associates now owns 25,984 shares of the real estate investment trust’s stock worth $1,987,000 after purchasing an additional 8,658 shares in the last quarter. Bank of Montreal Can lifted its stake in Equity LifeStyle Properties by 67.0% in the 1st quarter. Bank of Montreal Can now owns 36,421 shares of the real estate investment trust’s stock worth $2,820,000 after purchasing an additional 14,609 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the 1st quarter valued at $590,000. Finally, Yousif Capital Management LLC raised its position in shares of Equity LifeStyle Properties by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 10,102 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 314 shares in the last quarter. Institutional investors and hedge funds own 90.65% 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.