Equity Lifestyle Properties, Inc. (ELS) Cut to Neutral at Robert W. Baird
Robert W. Baird cut shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) from an outperform rating to a neutral rating in a research note released on Friday morning, Marketbeat Ratings reports. They currently have $92.00 price objective on the real estate investment trust’s stock.
A number of other research analysts have also commented on ELS. Zacks Investment Research lowered shares of Equity Lifestyle Properties from a buy rating to a hold rating in a research note on Monday, May 29th. BidaskClub upgraded shares of Equity Lifestyle Properties from a buy rating to a strong-buy rating in a research note on Wednesday, June 21st. Finally, Cantor Fitzgerald reiterated a neutral rating and set a $81.00 price objective (up previously from $75.00) on shares of Equity Lifestyle Properties in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $87.75.
Shares of Equity Lifestyle Properties (ELS) opened at 86.23 on Friday. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 42.79 and a beta of 0.32. Equity Lifestyle Properties has a 52 week low of $65.87 and a 52 week high of $90.80. The stock’s 50 day moving average price is $87.78 and its 200 day moving average price is $83.45.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data 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 analyst estimates of $209.80 million. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts anticipate that Equity Lifestyle Properties will post $2.14 EPS for the current fiscal year.
The firm 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 $0.4875 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.95 annualized dividend and a yield of 2.26%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 97.02%.
In other Equity Lifestyle Properties news, Chairman Samuel Zell purchased 805,333 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were purchased at an average price of $87.43 per share, for a total transaction of $70,410,264.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Gofen & Glossberg LLC IL acquired a new position in Equity Lifestyle Properties in the second quarter worth approximately $215,000. Public Employees Retirement System of Ohio grew its position in Equity Lifestyle Properties by 2.6% in the second quarter. Public Employees Retirement System of Ohio now owns 126,860 shares of the real estate investment trust’s stock worth $10,953,000 after buying an additional 3,168 shares during the last quarter. Koch Industries Inc. acquired a new position in Equity Lifestyle Properties in the second quarter worth approximately $337,000. Raymond James Financial Services Advisors Inc. grew its position in Equity Lifestyle Properties by 57.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,104 shares of the real estate investment trust’s stock worth $527,000 after buying an additional 2,229 shares during the last quarter. Finally, Assetmark Inc. grew its position in Equity Lifestyle Properties by 7.4% in the second quarter. Assetmark Inc. now owns 115,939 shares of the real estate investment trust’s stock worth $10,010,000 after buying an additional 8,032 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.
Equity Lifestyle Properties Company Profile
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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