Equity Lifestyle Properties’ (ELS) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Equity Lifestyle Properties (NYSE:ELS) in a report released on Friday morning, Marketbeat.com reports. The brokerage currently has a $70.00 target price on the real estate investment trust’s stock, up from their previous target price of $68.00.

Several other research firms have also recently issued reports on ELS. Zacks Research raised Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft cut Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a report on Tuesday, January 20th. Truist Financial boosted their target price on Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. BMO Capital Markets restated an “outperform” rating and set a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th. Finally, 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 report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.42.

Equity Lifestyle Properties Trading Down 0.8%

NYSE:ELS opened at $67.25 on Friday. The company has a fifty day moving average of $63.71 and a 200 day moving average of $62.18. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $13.04 billion, a P/E ratio of 33.46, a P/E/G ratio of 3.73 and a beta of 0.75.

Equity Lifestyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, March 27th. Equity Lifestyle Properties’s dividend payout ratio is currently 102.49%.

Institutional Trading of Equity Lifestyle Properties

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Equity Lifestyle Properties by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock worth $1,544,190,000 after acquiring an additional 592,013 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Equity Lifestyle Properties by 303.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after purchasing an additional 11,999,874 shares during the period. State Street Corp increased its stake in shares of Equity Lifestyle Properties by 1.8% during the second quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust’s stock valued at $824,943,000 after purchasing an additional 237,090 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Equity Lifestyle Properties by 26.8% during the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after purchasing an additional 2,246,622 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Equity Lifestyle Properties by 32.5% during the third quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock valued at $414,194,000 after purchasing an additional 1,674,281 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

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.