Equity Lifestyle Properties (NYSE:ELS) Now Covered by Zelman & Associates

Zelman & Associates began coverage on shares of Equity Lifestyle Properties (NYSE:ELS) in a research note published on Monday,Benzinga reports. The brokerage issued an underperform rating and a $59.25 price target on the real estate investment trust’s stock.

Several other brokerages have also commented on ELS. 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. Robert W. Baird set a $73.00 price objective on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. BMO Capital Markets reiterated 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. Truist Financial raised their target price on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. Finally, UBS Group set a $67.00 price target on shares of Equity Lifestyle Properties and gave the company a “buy” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.63.

Equity Lifestyle Properties Trading Down 0.6%

Shares of NYSE ELS opened at $67.49 on Monday. 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 business has a fifty day simple moving average of $65.22 and a two-hundred day simple moving average of $62.77. The firm has a market cap of $13.09 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 3.77 and a beta of 0.75. Equity Lifestyle Properties has a twelve month low of $58.15 and a twelve month high of $69.28.

Equity Lifestyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s dividend payout ratio is presently 102.49%.

Institutional Investors Weigh In On Equity Lifestyle Properties

A number of institutional investors have recently added to or reduced their stakes in ELS. GoalVest Advisory LLC bought a new position in Equity Lifestyle Properties in the fourth quarter worth about $25,000. Wiser Advisor Group LLC bought a new stake in shares of Equity Lifestyle Properties in the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 453 shares in the last quarter. Clearstead Trust LLC grew its position in shares of Equity Lifestyle Properties by 74.8% in the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $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 approximately $34,000. 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.