Zacks Investment Research upgraded shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) from a hold rating to a buy rating in a research note released on Wednesday. The brokerage currently has $96.00 target price on the real estate investment trust’s stock.

According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Equity Lifestyle Properties from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Cantor Fitzgerald restated a hold rating and set a $81.00 price target on shares of Equity Lifestyle Properties in a research report on Wednesday, September 13th. Finally, Robert W. Baird downgraded shares of Equity Lifestyle Properties from an outperform rating to a neutral rating and set a $92.00 price target on the stock. in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $86.50.

Equity Lifestyle Properties (ELS) traded up 0.89% on Wednesday, reaching $85.08. 519,576 shares of the company traded hands. The company has a market capitalization of $7.40 billion, a P/E ratio of 42.22 and a beta of 0.32. Equity Lifestyle Properties has a 12 month low of $65.87 and a 12 month high of $90.80. The company has a 50-day moving average price of $87.91 and a 200-day moving average price of $83.96.

Equity Lifestyle Properties (NYSE:ELS) last posted 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. The firm had revenue of $221.30 million during the quarter, compared to analyst estimates of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. Equity Lifestyle Properties’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. Equities research analysts expect that Equity Lifestyle Properties will post $2.14 EPS for the current year.

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The business 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. The ex-dividend date is Thursday, September 28th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.29%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 97.02%.

In related news, Chairman Samuel Zell purchased 805,333 shares of the company’s stock in a transaction on Friday, July 21st. The shares were bought at an average cost of $87.43 per share, for a total transaction of $70,410,264.19. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 6.10% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ELS. BlackRock Inc. raised its position in shares of Equity Lifestyle Properties by 4,674.0% during the 1st quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock worth $466,277,000 after buying an additional 5,924,100 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Equity Lifestyle Properties by 2,051.3% during the 2nd quarter. Janus Henderson Group PLC now owns 2,010,984 shares of the real estate investment trust’s stock worth $173,664,000 after buying an additional 1,917,506 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Equity Lifestyle Properties by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,836,756 shares of the real estate investment trust’s stock worth $1,108,326,000 after buying an additional 343,326 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth about $337,000. Finally, Russell Investments Group Ltd. raised its position in shares of Equity Lifestyle Properties by 132.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 563,498 shares of the real estate investment trust’s stock worth $48,615,000 after buying an additional 320,685 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

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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