Equity Lifestyle Properties (NYSE:ELS) Price Target Raised to $69.00 at Truist Financial

Equity Lifestyle Properties (NYSE:ELS) had its target price hoisted by Truist Financial from $66.00 to $69.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

ELS has been the subject of several other reports. UBS Group set a $67.00 price target on shares of Equity Lifestyle Properties and gave the stock a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. Zacks Research cut Equity Lifestyle Properties from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Bank of America upgraded Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Equity Lifestyle Properties Trading Down 1.1%

ELS opened at $67.11 on Wednesday. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The stock has a market cap of $13.01 billion, a PE ratio of 33.39, a PEG ratio of 3.77 and a beta of 0.76. The business has a 50 day moving average of $62.90 and a 200-day moving average of $61.84.

Equity Lifestyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.5425 per share. The ex-dividend date is Friday, March 27th. This represents a $2.17 annualized dividend and a yield of 3.2%. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 102.49%.

Institutional Investors Weigh In On Equity Lifestyle Properties

Several institutional investors have recently modified their holdings of the business. GoalVest Advisory LLC purchased a new position in Equity Lifestyle Properties in the 4th quarter worth about $25,000. Wiser Advisor Group LLC purchased a new position in shares of Equity Lifestyle Properties during the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in Equity Lifestyle Properties by 943.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 453 shares during the last quarter. Clearstead Trust LLC raised its stake in Equity Lifestyle Properties by 74.8% during the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 231 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new position in shares of Equity Lifestyle Properties in the 3rd quarter worth $34,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.