Equity Lifestyle Properties (NYSE:ELS) Upgraded at Zacks Research

Zacks Research upgraded shares of Equity Lifestyle Properties (NYSE:ELS) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other analysts have also commented on the stock. UBS Group set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the stock a “buy” rating in a research report on Thursday, January 8th. Bank of America upgraded shares of 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. Weiss Ratings reissued a “hold (c)” rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. Wells Fargo & Company decreased their price objective on Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.27.

Equity Lifestyle Properties Stock Down 0.7%

ELS stock opened at $67.85 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market capitalization of $13.16 billion, a P/E ratio of 33.76, a P/E/G ratio of 3.79 and a beta of 0.76. Equity Lifestyle Properties has a fifty-two week low of $58.15 and a fifty-two week high of $70.35. The business has a 50-day moving average of $63.47 and a 200-day moving average of $62.07.

Equity Lifestyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders 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 dividend yield of 3.2%. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 102.49%.

Hedge Funds Weigh In On Equity Lifestyle Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in Equity Lifestyle Properties during the 3rd quarter valued at $1,243,000. Andra AP fonden raised its position in shares of Equity Lifestyle Properties by 34.9% in the second quarter. Andra AP fonden now owns 352,400 shares of the real estate investment trust’s stock valued at $21,733,000 after purchasing an additional 91,100 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth about $1,039,000. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Equity Lifestyle Properties by 910.4% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust’s stock worth $6,091,000 after buying an additional 90,454 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Equity Lifestyle Properties by 191.3% during the 2nd quarter. Creative Planning now owns 30,420 shares of the real estate investment trust’s stock worth $1,876,000 after buying an additional 19,977 shares during the period. Institutional investors own 97.21% of the company’s stock.

About Equity Lifestyle Properties

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.