Equity LifeStyle Properties (NYSE:ELS) Price Target Cut to $72.00 by Analysts at Barclays

Equity LifeStyle Properties (NYSE:ELS) had its target price cut by Barclays from $78.00 to $72.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on ELS. Wolfe Research raised Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 price target for the company in a research report on Friday, February 9th. 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 objective for the company. Truist Financial cut their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating for the company in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $69.55.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $60.52 on Friday. Equity LifeStyle Properties has a fifty-two week low of $60.47 and a fifty-two week high of $74.04. The business has a 50-day moving average of $64.41 and a two-hundred day moving average of $67.06. The stock has a market capitalization of $11.29 billion, a P/E ratio of 33.07, a P/E/G ratio of 4.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid 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 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several large investors have recently modified their holdings of ELS. Mather Group LLC. bought a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in Equity LifeStyle Properties during the 1st quarter worth approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Equity LifeStyle Properties during the 4th quarter worth approximately $35,000. Headlands Technologies LLC grew its position in Equity LifeStyle Properties by 143.8% during the 4th quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 368 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Equity LifeStyle Properties during the 4th quarter worth approximately $44,000. 97.21% of the stock is currently owned by institutional investors.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.