Equity LifeStyle Properties (NYSE:ELS) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of Equity LifeStyle Properties (NYSE:ELS) from a hold rating to a sell rating in a research note released on Wednesday.

ELS has been the topic of a number of other reports. Robert W. Baird cut their price objective on Equity LifeStyle Properties from $79.00 to $76.00 in a research report on Wednesday, July 19th. Wells Fargo & Company cut shares of Equity LifeStyle Properties from an overweight rating to an equal weight rating and set a $70.50 target price for the company. in a research report on Tuesday. Truist Financial boosted their price target on shares of Equity LifeStyle Properties from $75.00 to $77.00 and gave the company a buy rating in a research report on Tuesday, July 25th. Royal Bank of Canada lowered their price objective on shares of Equity LifeStyle Properties from $70.00 to $69.00 in a report on Wednesday, July 19th. Finally, Barclays reduced their target price on Equity LifeStyle Properties from $79.00 to $78.00 in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of Hold and a consensus price target of $73.50.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $65.81 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties has a fifty-two week low of $56.91 and a fifty-two week high of $74.40. The company has a market capitalization of $12.26 billion, a P/E ratio of 43.01, a PEG ratio of 4.77 and a beta of 0.69. The stock has a 50 day moving average price of $68.03 and a two-hundred day moving average price of $67.08.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.32). Equity LifeStyle Properties had a net margin of 19.53% and a return on equity of 18.86%. The firm had revenue of $370.01 million for the quarter, compared to analysts’ expectations of $325.08 million. During the same period in the previous year, the company earned $0.64 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts expect that Equity LifeStyle Properties will post 2.85 earnings per share for the current year.

Equity LifeStyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.447 dividend. This represents a $1.79 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, September 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 116.99%.

Hedge Funds Weigh In On Equity LifeStyle Properties

A number of hedge funds have recently bought and sold shares of ELS. Raleigh Capital Management Inc. purchased a new position in Equity LifeStyle Properties in the first quarter worth about $28,000. Eagle Bay Advisors LLC bought a new stake in shares of Equity LifeStyle Properties during the second quarter valued at approximately $30,000. Exchange Traded Concepts LLC raised its holdings in Equity LifeStyle Properties by 314.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 506 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares during the last quarter. HM Payson & Co. bought a new position in Equity LifeStyle Properties in the 2nd quarter valued at approximately $40,000. Finally, Ronald Blue Trust Inc. boosted its stake in Equity LifeStyle Properties by 33.3% during the 1st quarter. Ronald Blue Trust Inc. now owns 804 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 98.55% 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 July 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,706 sites.