Equity Lifestyle Properties (NYSE:ELS) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Jefferies Financial Group upgraded shares of Equity Lifestyle Properties (NYSE:ELS) to a strong-buy rating in a research report sent to investors on Friday,Zacks.com reports.

A number of other research analysts have also recently weighed in on ELS. Wells Fargo & Company lowered their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Zelman & Associates began coverage on Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an “underperform” rating and a $59.25 price target for the company. Robert W. Baird raised their price target on Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Weiss Ratings downgraded Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.20.

Equity Lifestyle Properties Price Performance

NYSE ELS opened at $64.35 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties has a 12 month low of $58.15 and a 12 month high of $69.00. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.83 and a beta of 0.67. The company’s 50 day moving average is $63.02 and its two-hundred day moving average is $63.66.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). The firm had revenue of $397.62 million during the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. As a group, research analysts anticipate that Equity Lifestyle Properties will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties’s payout ratio is 108.50%.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several institutional investors have recently bought and sold shares of the stock. Wiser Advisor Group LLC bought a new stake in Equity Lifestyle Properties in the 3rd quarter valued at $25,000. GoalVest Advisory LLC purchased a new stake in Equity Lifestyle Properties in the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Equity Lifestyle Properties by 943.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 453 shares during the last quarter. Clearstead Trust LLC boosted its holdings in shares of Equity Lifestyle Properties by 74.8% during the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 231 shares during the last quarter. Finally, Fulcrum Asset Management LLP bought a new position in shares of Equity Lifestyle Properties during the 3rd quarter valued at about $34,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.