Equity Lifestyle Properties Inc. (ELS) Downgraded by TheStreet to Hold
Equity Lifestyle Properties Inc. (NYSE:ELS) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Other analysts have also recently issued research reports about the stock. Citigroup Inc. increased their price target on shares of Equity Lifestyle Properties from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. BMO Capital Markets reissued a “hold” rating and set a $77.00 price target on shares of Equity Lifestyle Properties in a research report on Thursday, July 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$71.25.
Shares of Equity Lifestyle Properties (NYSE:ELS) traded down 0.06% on Friday, reaching $71.46. 216,421 shares of the company traded hands. The firm has a market capitalization of $6.10 billion, a P/E ratio of 38.56 and a beta of 0.40. Equity Lifestyle Properties has a 1-year low of $57.71 and a 1-year high of $83.19. The stock has a 50-day moving average price of $77.21 and a 200 day moving average price of $75.71.
Equity Lifestyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 18th. The company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company earned $210.10 million during the quarter, compared to analyst estimates of $114.76 million. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%. Equity Lifestyle Properties’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share. Analysts anticipate that Equity Lifestyle Properties will post $3.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.70 annualized dividend and a yield of 2.38%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 91.40%.
A number of hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in shares of Equity Lifestyle Properties by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 3,164 shares of the company’s stock valued at $211,000 after buying an additional 41 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Equity Lifestyle Properties by 0.4% in the second quarter. Glenmede Trust Co. NA now owns 15,200 shares of the company’s stock valued at $1,216,000 after buying an additional 60 shares during the period. National Asset Management Inc. boosted its stake in Equity Lifestyle Properties by 2.4% in the second quarter. National Asset Management Inc. now owns 3,352 shares of the company’s stock worth $269,000 after buying an additional 80 shares during the last quarter. World Asset Management Inc boosted its stake in Equity Lifestyle Properties by 5.7% in the second quarter. World Asset Management Inc now owns 3,785 shares of the company’s stock worth $303,000 after buying an additional 204 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Equity Lifestyle Properties by 5.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,122 shares of the company’s stock worth $330,000 after buying an additional 213 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations.
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