Equity Lifestyle Properties Inc. (ELS) Receives New Coverage from Analysts at Evercore ISI
Stock analysts at Evercore ISI started coverage on shares of Equity Lifestyle Properties Inc. (NYSE:ELS) in a report issued on Friday. The firm set a “hold” rating on the stock.
Several other equities research analysts have also issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $77.00 price target on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Citigroup Inc. lifted their price target on Equity Lifestyle Properties from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, TheStreet lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of C$71.25.
Shares of Equity Lifestyle Properties (NYSE:ELS) opened at 74.98 on Friday. The firm has a market cap of $6.40 billion, a PE ratio of 40.46 and a beta of 0.40. The company’s 50-day moving average price is $76.79 and its 200 day moving average price is $75.66. Equity Lifestyle Properties has a 1-year low of $57.71 and a 1-year high of $83.19.
Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 18th. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%. The business earned $210.10 million during the quarter, compared to analysts’ expectations of $114.76 million. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, analysts predict that Equity Lifestyle Properties will post $3.30 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, September 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 91.40%.
Large investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group raised its stake in Equity Lifestyle Properties by 2.0% in the second quarter. Schroder Investment Management Group now owns 1,142,331 shares of the company’s stock worth $91,443,000 after buying an additional 22,269 shares during the period. BlackRock Inc. increased its position in shares of Equity Lifestyle Properties by 8.9% in the first quarter. BlackRock Inc. now owns 93,096 shares of the company’s stock worth $6,771,000 after buying an additional 7,618 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Equity Lifestyle Properties by 3.3% in the first quarter. Geode Capital Management LLC now owns 689,621 shares of the company’s stock worth $50,156,000 after buying an additional 22,198 shares in the last quarter. First Midwest Bank Trust Division acquired a new position in shares of Equity Lifestyle Properties during the second quarter worth about $200,000. Finally, Resolution Capital Ltd increased its position in shares of Equity Lifestyle Properties by 11.2% in the second quarter. Resolution Capital Ltd now owns 1,069,136 shares of the company’s stock worth $85,584,000 after buying an additional 107,394 shares in the last quarter. 94.83% of the stock is owned by 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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