Equity LifeStyle Properties (NYSE:ELS) Price Target Cut to $72.00

Equity LifeStyle Properties (NYSE:ELS) had its target price lowered by Barclays from $78.00 to $72.00 in a research note issued to investors on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

ELS has been the topic of a number of other research reports. Truist Financial dropped their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reissued a sector perform rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated 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. Finally, Wolfe Research upgraded shares of Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 price target on the stock in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Equity LifeStyle Properties currently has an average rating of Hold and a consensus price target of $69.55.

Equity LifeStyle Properties Stock Down 0.4 %

ELS opened at $60.53 on Friday. Equity LifeStyle Properties has a one year low of $60.47 and a one year high of $74.04. 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 stock has a market capitalization of $11.29 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 3.99 and a beta of 0.69. The business’s 50-day simple moving average is $64.41 and its 200-day simple moving average is $67.09.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a $0.477 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a yield of 3.15%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several hedge funds have recently bought and sold shares of ELS. Cornercap Investment Counsel Inc. acquired a new stake in shares of Equity LifeStyle Properties during the fourth quarter valued at $956,000. Arizona State Retirement System grew its holdings in shares of Equity LifeStyle Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock worth $3,431,000 after buying an additional 375 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Equity LifeStyle Properties by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock valued at $3,153,000 after buying an additional 200 shares during the period. Duality Advisers LP acquired a new stake in Equity LifeStyle Properties during the third quarter worth approximately $384,000. Finally, Janney Montgomery Scott LLC grew its stake in Equity LifeStyle Properties by 3.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 163,018 shares of the real estate investment trust’s stock worth $10,386,000 after acquiring an additional 5,318 shares during the period. Hedge funds and other institutional investors own 97.21% 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 January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.