Equity Lifestyle Properties’ (ELS) Neutral Rating Reiterated at Mizuho

Mizuho reissued their neutral rating on shares of Equity Lifestyle Properties (NYSE:ELS) in a research note published on Monday, Marketbeat Ratings reports. They currently have a $65.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $72.00.

Other research analysts also recently issued reports about the company. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research note on Thursday, July 9th. Wells Fargo & Company decreased their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Morgan Stanley reiterated a “mixed” rating and set a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Barclays set a $69.00 price objective on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.88.

Equity Lifestyle Properties Trading Down 1.0%

Equity Lifestyle Properties stock opened at $59.64 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 3.51 and a beta of 0.64. Equity Lifestyle Properties has a one year low of $58.72 and a one year high of $69.00. The company’s fifty day moving average price is $63.88 and its two-hundred day moving average price is $63.84.

Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). The company had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. Equity Lifestyle Properties’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. On average, analysts forecast that Equity Lifestyle Properties will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 104.33%.

Hedge Funds Weigh In On Equity Lifestyle Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Equity Lifestyle Properties by 13.4% during the fourth quarter. Legal & General Group Plc now owns 1,365,902 shares of the real estate investment trust’s stock valued at $82,787,000 after purchasing an additional 161,210 shares during the period. BROOKFIELD Corp ON bought a new position in Equity Lifestyle Properties in the first quarter worth $19,429,000. Resolution Capital Ltd lifted its position in Equity Lifestyle Properties by 3.3% in the first quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust’s stock worth $117,680,000 after purchasing an additional 59,809 shares during the period. Corient Private Wealth LP bought a new position in Equity Lifestyle Properties in the second quarter worth $2,549,000. Finally, GSA Capital Partners LLP acquired a new stake in Equity Lifestyle Properties during the second quarter worth $1,402,000. 97.21% of the stock is currently owned by institutional investors.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages residential communities and resort properties across the United States. Its portfolio primarily consists of manufactured home communities, recreational vehicle (RV) resorts and campgrounds.

The company provides long-term homesites for manufactured housing residents, as well as seasonal and transient accommodations for RV owners and vacationers. Its properties generally offer amenities and services such as clubhouses, swimming pools, recreational facilities, community events and utility connections.