Equity Lifestyle Properties, Inc. (ELS) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) from a buy rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
A number of other equities analysts also recently commented on ELS. BidaskClub raised shares of Equity Lifestyle Properties from a hold rating to a buy rating in a research note on Tuesday. Cantor Fitzgerald reissued a neutral rating and issued a $81.00 target price (up previously from $75.00) on shares of Equity Lifestyle Properties in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Equity Lifestyle Properties currently has an average rating of Hold and a consensus price target of $83.50.
Shares of Equity Lifestyle Properties (NYSE:ELS) traded down 0.19% on Wednesday, reaching $88.70. The company had a trading volume of 283,269 shares. Equity Lifestyle Properties has a 1-year low of $65.87 and a 1-year high of $89.50. The stock has a market capitalization of $7.72 billion, a P/E ratio of 44.02 and a beta of 0.31. The company’s 50 day moving average price is $86.87 and its 200-day moving average price is $82.58.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The business had revenue of $221.30 million for the quarter, compared to the consensus estimate of $209.80 million. During the same quarter last year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that Equity Lifestyle Properties will post $2.13 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, September 28th. Equity Lifestyle Properties’s dividend payout ratio is presently 97.02%.
In other news, Chairman Samuel Zell purchased 805,333 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were purchased at an average price of $87.43 per share, with a total value of $70,410,264.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ELS. BlackRock Inc. increased its stake in Equity Lifestyle Properties by 4,674.0% in the first quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock valued at $466,277,000 after buying an additional 5,924,100 shares during the period. 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 period. JPMorgan Chase & Co. increased its stake in Equity Lifestyle Properties by 91.2% in the first quarter. JPMorgan Chase & Co. now owns 1,627,214 shares of the real estate investment trust’s stock valued at $125,393,000 after buying an additional 775,969 shares during the period. 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 period. Finally, Koch Industries Inc. purchased a new stake in Equity Lifestyle Properties during the second quarter valued at about $337,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.
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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