Robert W. Baird Increases Equity LifeStyle Properties (NYSE:ELS) Price Target to $72.00

Equity LifeStyle Properties (NYSE:ELS) had its price objective raised by Robert W. Baird from $71.00 to $72.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

ELS has been the subject of several other research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. Truist Financial boosted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Finally, Evercore ISI upped their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.40.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $69.40 on Tuesday. The firm has a market cap of $12.94 billion, a P/E ratio of 35.77, a P/E/G ratio of 3.75 and a beta of 0.79. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60. The business’s 50-day moving average price is $71.14 and its 200 day moving average price is $66.87. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts expect that Equity LifeStyle Properties will post 2.9 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.4775 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.75%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 98.45%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently modified their holdings of ELS. Centersquare Investment Management LLC raised its holdings in Equity LifeStyle Properties by 22.9% in the 1st quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock valued at $7,417,000 after acquiring an additional 22,900 shares during the last quarter. GAMMA Investing LLC increased its stake in Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Equity LifeStyle Properties by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock worth $21,952,000 after buying an additional 12,444 shares during the last quarter. Tidal Investments LLC grew its holdings in Equity LifeStyle Properties by 35.3% in the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock valued at $5,106,000 after buying an additional 20,697 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after acquiring an additional 354,718 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

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.