Equity LifeStyle Properties (NYSE:ELS) Reaches New 52-Week Low Following Analyst Downgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS)’s stock price hit a new 52-week low during mid-day trading on Friday after Barclays lowered their price target on the stock from $78.00 to $72.00. Barclays currently has an overweight rating on the stock. Equity LifeStyle Properties traded as low as $60.47 and last traded at $60.53, with a volume of 889533 shares trading hands. The stock had previously closed at $60.75.

Other research analysts have also issued reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Truist Financial reduced their price target on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price for the company. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $69.55.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ELS. Mather Group LLC. bought a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Equity LifeStyle Properties in the 1st quarter valued at $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Equity LifeStyle Properties in the fourth quarter valued at $35,000. Headlands Technologies LLC raised its stake in Equity LifeStyle Properties by 143.8% during the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 368 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

The company’s 50 day moving average price is $64.53 and its 200 day moving average price is $67.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 4.04 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 3.15%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

About Equity LifeStyle Properties

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.