Equity Lifestyle Properties, Inc. (ELS) Receives $83.25 Average Price Target from Analysts
Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) have received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $78.67.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $81.00 target price (up from $75.00) on shares of Equity Lifestyle Properties in a research note on Saturday, July 22nd.
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In related news, Chairman Samuel Zell acquired 805,333 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was bought at an average price of $87.43 per share, with a total value of $70,410,264.19. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Equity Lifestyle Properties by 2.7% in the second quarter. Vanguard Group Inc. now owns 12,836,756 shares of the real estate investment trust’s stock valued at $1,108,326,000 after buying an additional 343,326 shares during the last quarter. BlackRock Inc. increased its stake in Equity Lifestyle Properties by 3.4% in the second quarter. BlackRock Inc. now owns 6,258,525 shares of the real estate investment trust’s stock valued at $540,359,000 after buying an additional 207,679 shares during the last quarter. State Street Corp increased its stake in Equity Lifestyle Properties by 0.5% in the second quarter. State Street Corp now owns 2,545,930 shares of the real estate investment trust’s stock valued at $219,817,000 after buying an additional 13,279 shares during the last quarter. Janus Henderson Group PLC increased its stake in Equity Lifestyle Properties by 2,051.3% in the second quarter. Janus Henderson Group PLC now owns 2,010,984 shares of the real estate investment trust’s stock valued at $173,664,000 after buying an additional 1,917,506 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Equity Lifestyle Properties by 2.7% in the second quarter. Daiwa Securities Group Inc. now owns 1,860,764 shares of the real estate investment trust’s stock valued at $160,658,000 after buying an additional 48,991 shares during the last quarter. 96.73% of the stock is owned by institutional investors.
Shares of Equity Lifestyle Properties (ELS) traded down 0.19% on Tuesday, reaching $88.70. 283,269 shares of the company’s stock traded hands. Equity Lifestyle Properties has a 52 week low of $65.87 and a 52 week high of $89.50. The company has a 50 day moving average price of $86.77 and a 200 day moving average price of $82.47. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 44.02 and a beta of 0.31.
Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The company had revenue of $221.30 million for the quarter, compared to the consensus estimate of $209.80 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Equity Lifestyle Properties will post $2.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, September 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 97.02%.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an 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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