Wolfe Research upgraded shares of Equity LifeStyle Properties (NYSE:ELS – Free Report) from a peer perform rating to an outperform rating in a research report released on Friday morning, MarketBeat.com reports. The firm currently has $75.00 target price on the real estate investment trust’s stock.
Other equities analysts have also issued reports about the company. StockNews.com upgraded Equity LifeStyle Properties from a sell rating to a hold rating in a research report on Friday, November 3rd. Truist Financial reduced their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating on the stock in a research report on Wednesday, January 24th. Bank of America lowered Equity LifeStyle Properties from a buy rating to a neutral rating and reduced their price target for the stock from $70.00 to $64.00 in a research report on Monday, October 23rd. Royal Bank of Canada restated a sector perform rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a hold rating and a $64.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of Hold and an average price target of $70.15.
Equity LifeStyle Properties Price Performance
Equity LifeStyle Properties Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be given a $0.477 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 106.55%.
Institutional Investors Weigh In On Equity LifeStyle Properties
A number of large investors have recently made changes to their positions in ELS. Norges Bank purchased a new position in shares of Equity LifeStyle Properties in the 4th quarter valued at approximately $455,623,000. Chai Trust Co. LLC raised its stake in Equity LifeStyle Properties by 158.9% during the second quarter. Chai Trust Co. LLC now owns 8,952,989 shares of the real estate investment trust’s stock valued at $598,865,000 after buying an additional 5,495,164 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Equity LifeStyle Properties by 30.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,735,330 shares of the real estate investment trust’s stock valued at $499,702,000 after buying an additional 1,798,649 shares during the last quarter. Aristotle Capital Management LLC raised its stake in Equity LifeStyle Properties by 17.1% during the third quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock valued at $734,997,000 after buying an additional 1,681,198 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Equity LifeStyle Properties by 147.1% during the first quarter. Invesco Ltd. now owns 2,541,777 shares of the real estate investment trust’s stock valued at $194,396,000 after buying an additional 1,512,944 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors.
Equity LifeStyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of October 16, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,707 sites.
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